Blockchain-Fueled Open-Source P2P Energy Trading System Wins Energy Hackathon
Following a weekend of solution seeking, collaboration and competition, the highlight of the Hackenergy 2016 event was a blockchain-fueled peer-to-peer (P2P) energy trading system called EcoCoin, which grabbed top honors. Brendon Geils of the U.S., Simon Appel of Germany and Hodge Hodgson of Germany) built the blockchain-fueled P2P energy trading system on the open source Hyperledger blockchain managed by the Linux Foundation to win the hacking competition. International Turnout. Hackers from Germany, Spain, the U.S., the U.K. and the Netherlands attended the event, held in Groningen, an....
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The blockchain could serve as the foundation of a system for connecting energy grids, delivering more efficient and environmentally sustainable energy, according to Greentechmedia.com, a news site for the global clean energy market. One company, L03 Energy, is building an “open source cryptographically secure” blockchain to manage transactions across a microgrid. Lawrence Orsini, the founder of L03 Energy, said the blockchain’s impact on energy could be much bigger than bitcoin. L03 Energy has built two nodes collecting generation and consumption data across the microgrid and sending it to....
On October 14-15, Dutch Hackenergy 2016 hackathon was filled with energetic programmers and blockchain solutions. A jury of industry experts named Hyperledger-based project EcoCoin as the most prestigious platform, focusing on peer-to-peer energy transition. Hackenergy Event Tests Blockchain Energy Solutions. Hackenergy 2016 was a two-day Dutch hackathon....
Peer-to-peer (P2P) power trading presents a promising use case for blockchain technology and supports transactive energy, according to a report from Navigant Research. Owners of distributed energy resources will be the first stakeholders. Blockchain technology could provide a new model for transactive energy, which refers to the economic and control techniques used to manage the flow or exchange of energy within an existing power system. The report examines the requirements for an energy blockchain, offering case studies, recommendations and implementation challenges for the energy....
The two-day ‘Building Blocks’ Hackathon at Consensus 2016 concluded today with the news that Decentralized Energy Utility, a project aimed at improving utility services in the developing world, had been named the $5,000 grand prize winner. In total, 26 projects were presented, a figured event emcee and CoinDesk team lead Ryan Selkis indicated was an increase from the 15 participants last year. Each group had two days to build a blockchain project, with the winner being the one that developed the prototype that had the most immediate commercial application. Boasting a two-person....
Blockchain projects focused on optimizing the energy sector are gaining traction as greater emphasis is placed on conservation and efficiency. Concerns about energy production, resource consumption and its impact on the environment are one of the dominant topics of debate on the global stage. The intensive energy costs of mining Bitcoin and other proof-of-work cryptocurrencies are also frequently pointed to as a serious downside to the emerging asset class. While environmental concerns and the cost to reward debate rages on, there is one group of cryptocurrency projects that has the goal....