The Grid + Blockchain project by ConsenSys uses Ethereum to provide Texas With Electricity


The ConsenSys Startup offers renewable energy through the Ethereum blockchain

The ConsenSys Startup offers renewable energy through the Ethereum blockchain

A recent tweet realized by the startup of ConsenSys, Grid + has revealed the news of a new goal achieved. In particular, the launch – known to exploit the Ethereum blockchain in a way that gives consumers access to energy – has publicized that since then it has supplied electricity to its "first four customers" in Texas.

Co-founder of Ethereum and ConsenSys Operator, Joseph Dublin expressed joy at what was achieved, as the blockchain leader noted that the team's efforts led to a "revolutionary milestone".

CCN, which has also reported on the issues, seems to have immersed itself in the things to do, underlining that the use of a "hardware gateway system and a blockchain solution" has been what has fueled these results. More specifically, said combined instruments are known to act as real-time payment processor for electricity, which allows consumers to buy and sell electricity through a function called "Smart Agents".

To ensure that the size of a company does not adversely affect the amount of energy consumed, the involved team presumably accelerates payment processes so that the purchase and sale of energy takes place instantly, which, in turn, , reduces the possibility of acquiring too many things in refueling.

How Grid + has come to know about …

ConsenSys considered it necessary to create Grid + due to the increase in demand in the free renewable energy market. The team involved started the project with the goal of demonstrating that the energy solutions supported by the blockchain are possible, scalable and useful in the real world.

Today, the team took the first step towards demonstrating their point, which is to offer energy to four customers. What makes Grid + a viable payment processor is its use of Raiden Network, which presumably improves scalability.

Many strongly believe that the Raiden network could be the answer to the current long waiting times of Ethereum for the validation of transactions. According to the Raiden Network team, the network is comparable to Bitcoin's Lightning Network, calling it "Ethereum & # 39; s Lightning". Its uses not only guarantee transfers, but also unlimited and bidirectional transfers between the parts in an instantaneous way.

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