What Is Kwhcoin?
The coin is a renewable energy based cryptocurrency. The platform is designed to be a new coin based network that is beginning on December 21 of 2017. It will launch its first energy economy that is advanced and empowers the edges of economy with grid choice as a 100% renewable energy future and uses a blockchain technology for the 1.2 billion around the world without access to electricity.
How Does Kwhcoin Work?
Kwcoin is a new cryptocurrency that is backed by a kilowatt and hour of electricity that essentially works as an aggregator for the energy usage based on data and different distributable energy resources to find the digital value of D in newly distributed energy sources.
The system works with a KWHcoin which is the source token for a decentralized application where prosumers, consumer and other distributed energy sources can configure and connect their energy resources.
The Kwhcoin is used to digitally represent the organic nature and energy generated by a kilowatt per hour. It’s based on the energy output or equivalent type of measurement as part of what happens on the decentralized platform. But what are the renewable energy resources?
Each of the following makes up about 10% each of our normally used energy resources:
- Solar Power –
- Wind Power –
- Hydroelectric Power –
- Geothermal Energy –
- Biofuel –
- Tidal Power –
The main mission of the company is to help improve the lives of the more than 1.2 billion people on the planet who don’t have power or access to any energy sources. KWHcoin will do this by building a platform that anyone can use to buy and sell renewable sources of energy through a system that works on a grid. It is once again, a blockchain based renewable energy platform.
They want to allow the people who don’t have energy claim an independence with their own energy. Not only that, but they will also have the ability to choose what energy providers they use. And also to sell their energy to to others on the grid with the tokens.
They hope to lower the cost of renewable energy transactions and expand the newfound power to all the people of the world who don’t currently have it.
What Is The Kwhcoin?
The entire community works on the blockchain community, environment and ecosystem. It is backed by cryptocurrency that is valued on a basis related to units of clean, renewable energy.
There are actual physical units of kWh energy that are leveraged across multiple sources, including smart meters. There are also sensor readings and green button data. The measurable output is then converted into Tokens on the blockchain to create the tokens.
The people of Kwhcoin understand that cryptocurrency isn’t going anywhere. And they are looking to create their energy solution on the decentralized network they are developing and then connecting it to blockchain technology. They will release and exchange their energy through conversion to KWH Tokens and then to digital wallets on their peer-to-peer based system – The Grid.