Hey yo, what is going on and what is right with the viewers of the tube!
Let me first introduce myself as Tyler, the host of the crypto channel that keeps you
waiting, and winds up for the punch, kind of like this putty tat…you know how we rattle
them domes.
It’s time for Chico Crypto!
Well, it’s time to revisit, a favorite blockchain of mine who has been striding forward week
after week after visiting some of the DeFi projects in the same ecosystem, as them Polkadot.
I hope you know what I’m about to say, because the blockchain is, the energy web chain.
So many good things with energy web, it’s hard to keep track of.
I have covered multiple things, their involvement with decentralizing energy origin certificates,
with TEO, the energy origin, which involves Ledger Origin, the hardware component of this
take on origin certificates which is already live and in production, going onto the energy
web chain.
Then there was their deep involvement with Hoog Dalem 2.0, where this dutch neighborhood
was coming together, interconnecting their renewable energy equipment, to become their
own mini electric grid, and produce & sell their energy back, in the new energy marketplace
powered by Energy Web & their D3A, decentralized energy marketplace.
There is a lot more to Energy web, big energy partners from all walks of life, Tesla connections
with a Virtual Power Plant project going on in South Australia & more.
All the research we have performed prior is in the description, if you wan’t to check
it out and get the full picture.
Now, I hope more people understand how the energy web chain, and polkadot are closely
related and have a similar structure, as Energy Web will be hosting parachains on it’s chains.
Per example, their whitepaper...These parachains (i.e., parallel blockchains, parallelized
blockchains) do not need to be aware of the data passing through the others.
They could overlay on the same geographic region but perform different functions and
catalog different data, or they could serve entirely different markets and/or geographies.
For example, imagine two separate Energy Web chains, each responsible for the electricity
grids in North America and Europe, connected through an EWF relay chain based on the Polkadot
protocol”
So, a basic design of that structure looks like this, Relay chain, the parachains, but
there’s also another thing.
The Ethereum bridgechain.
And that is what I want to get into, and show everybody an opportunity hiding in plain sight.
Actually could be more than a few.
So, the bridge, to Ethereum...how is this going down in Polkadot?
Well thee Gavin Wood, put out a medium blog post titled “ Polkadot, Substrate and Ethereum”
explaining just that in October of last year.
He speak on interoperability with ETH and says “Our commitment takes three distinct
projects, which I’d like to take some time to explain; a Polkadot/Ethereum public network
bridge, a Substrate/Parity-Ethereum-PoA bridge and an Ethereum-compatible EVM smart-contract
execution module in Substrate.”
With the 1st one he says there are obstacles, with ethereum’s current design, although
efforts are underway to solve this...like ChainX.
Then the important one for right now….the “Substrate/Parity-Ethereum-PoA bridge”
And he says to support the vision, of supporting Ethereum now..
They will create this bridge which is very similar to the existing Parity Bridge that
sits at the heart of the xDAI chain.
Ya that xdai, STAKE….
So these tools regarding POA...they are already out there, and guess what?
Energy Web has a POA bridge to the ethereum mainnet.
So I’m going to show you how to do this...now if you are using Metamask, which I am, you
need connect your wallet or wallet ledger combo, by clicking login with wallet in the
top right hand corner, or it should just automatically pop up.
Sign in and as we can see, the bridge is set up for the ethereum mainnet, back to the energy
web base chain.
Which we don’t want...we want to go from energy web chain, to ethereum.
So there is a step with metamask, as we need to connect to their chain.
I have included documentation for those who wan’t to read below on this step, but let’s
do it right now.
In Metamask, we need to connect to EnergyWeb’s remote RPC by adding a custom node, to do
this got networks, and click on Custom RPC.
And here is exactly what you need to fill in.
Name EnergyWeb RPC...new RPC url is https://rpc.energyweb.org/
ChainID is 246, Symbol is EWT and block explorer you can fill in with
https://explorer.energyweb.org/.
Make sure everything is right and click save.
And you should be connected to Energy Web.
Now the two should be swapped from the Energy web chain to the Ethereum mainnet.
And if your EWT is stored in Metamask, they should show up.
If they are on a ledger you need to send them from the ledger to a metamask address, as
of right now.
I have included awesome documentation on how to do all this in the description as well.
Now we should see our EWT in the bridge app, and the next step is to transfer.
I’ll do 1 of the 2 EWT to save some for gas..confirm that you wan’t to do it, and
click continue.
Confirm on Metamask, and the transaction should go through on both mask and the bridge!
Now we have EWT on the Ethereum mainnet.
I’m sure you are look cool Tyler, what’s the point?
The point is an opportunity, in Uniswap.
Now, everyone knows, since Energy web and it’s token is it’s own chain, getting
it isn’t the most simple of things to do.
Only on two exchanges, that some do not have access to...but look at the bottom on Coingecko,
there is trading on Uniswap V2, and it is really low.
Why is that?
Because nobody really knows about it, and it just released earlier this week.
Energy Web Uniswap pools.
As we can see, the pools total is just over only 1k, only 131 dollars in trading volume,
of which was 4 transactions over the past 24 hours.
So if you didn’t know about Uniswap, and it’s decentralzied swapping protocol, those
who provide liquidity to the pools earn the fees.
And since this is a new pool, of which many could come to use with the limitations on
exchanges...those who provide the liquidity, could be earning fees like an exchange!
But as always, learn on providing liquidity to Uniswap, understand the risks involved..which
I have covered in this video, posted earlier this year & I have left a pool tracking, and
performance link for the EWT on Uniswap, so you can see what is going on, and the average
returns as the pool grows.
So the bridge and DeFi explosion with Energy Web will only accelerate, and eventually we
just might see a blossoming EWTB/dai pools, and trading pairs across the multitude of
other assets, and stablecoins on Ethereum.
This is only the beginning.
So POA bridges, trading and pools is great, but I know you guys love the Chico research
and me digging to uncover gems.
So let’s get into that right now.
So Energy Web’s chain is in version 1.0 right now.
It’s live, validating blocks, transactions & running and it’s based on POA..from documentation.,
to establish consensus about the current state and canonical history of transactions, the
EWC and the EW Test Networks currently uses the Aura Proof-of-Authority (PoA) consensus
algorithm.
“In this PoA consensus model, only a defined group of nodes, called Validators, are permissioned
to validate transactions and create new blocks and earn the fees...now I wonder who are the
validators?
Well we know this, the like of shell, tepco, SPgroup, Wirepas, Ellia group, AES, Engie,
Stedin, and other power players across the energy Industry.
So right now, it’s the big boys getting the tokens from validating….But with the
Polka release, and Kusama functioning without a hitch, Energy Web is moving to the next
stage of their blockchain.
Energy Web Chain 2.0 you could call it.
Like mentioned this will be closely related to Polkadot, and Gavin Wood the creator of
DOT, the EVM and ethereum solidity, actually said this to the EWF team.
He proposed that they should be their own relay chain, with POA consensus, where token
holders like us, can nominate validators and participate in the block rewards.
You could actually stake with Shell!
Pretty cool huh!
Well it gets even better!
So when EWT, begins this transition and it’s finished, as EW’s new chain will mirror
DOT or Kusama, staking will be enabled.
So imagine this...Energy Web is the main relay chain, each validator building infrastructure
on Energy web, will have their own parachains for each dapp, like the D3A---decentralized
autonomous area agents---a new transactive energy grid product of which is a strong focus
of those behind this....like Grid Singularity.
Which many of these companies as validators are already working on.
And in the documentation on d3a, you see how this works...it will build itself on up, from
smart device origin, think ledger origin & the energy origin, up to buildings, to neighborhoods,
to regions, to an entire grid.
And as we know from Hoog Dalem, they are already up to the neighborhood part.
Once region, get’s going..think who is in on this Hoog Dalem with Energy Web, one of
their validators, STEDIN...and from their wikipedia, Stedin is responsible for the transport
of electricity and gas to approximately 2 million households and industrial customers.
Stedin has a total of almost 4 million connections.
In addition to three of the four major cities of The Hague , Utrecht and Rotterdam , the
Port of Rotterdam also falls under the network operator's area.
Ya Region, meaning an entire city, like Rotterdam, could eventually be it’s own d3a, and parachain,
within the Stedin ecosystem.
And eventually Stedin’s main Parachain, which is an interconnected group of d3a dapp
parachains for each region, you could eventually stake with them, if you think that company,
Stedin in this case is going to grow.
Like a stakeable share in their grid all going on to the Energy Web Chain.
And the growth of the validator ecosystem, will be something to behold, growing and expanding
by the second.
That is the future, not far out, but it is the future….Now let’s go a little bit
farther out, into something I believe might just be of future use for the Energy Web Chain...Ocean
protocol, and their AI and data marketplaces & there has been actually innovation proposals
submitted to Energy Web, for an EW-AI device hierarchy, an EW-AI Ocean data marketplace,
and even an EW-AI API...now there are innovation proposals, nothing commercial or concrete,
but there are connections, and proposals being made so this is something to keep an eye on.
Well viewers, I hope this video does a great job of explaining why I am researching and
digging like I am and brought forward some opportunities in the crypto space.
POA, Uniswap, Ocean Protocol??
Cheers I’ll see you next time!