The blockchain startup Grid+, which is operated by ConsenSys, is in the headlines in our crypto news section for the official supply of electricity to its clients in Texas using the Ethereum solution. The announcement, posted by the startup, went viral on Twitter.
Milestone Reached: Grid+ Texas has begun flowing power to its first four customers!
— GridPlus (@gridplus) September 21, 2018
As the startup outlined, the use of a unique hardware gateway system and a blockchain solution will allow Grid+ to distribute renewable electricity such as solar and wind energy to consumers in Texas, and later throughout the US on the Ethereum mainnet.
As the co-creator of Ethereum Joseph Lubin recently stated:
“Groundbreaking milestone. The tireless Grid+ team has begun supplying power to their first four customers.”
Meanwhile, Grid+ uses a specific hardware and software stack in order to process payments for electricity in real-time, allowing its customers to programmatically buy and sell electricity through a function known as ‘Smart Agents’.
For large scale agents, a significant amount of electricity can be produced on a daily basis within a short period of time. More importantly, these clients can purchase and use energy that they need without acquiring an abundant supply of it.
“Through this experience, ConsenSys identified the opportunity to form Grid+, which will build natively Ethereum-based utilities in deregulated markets. Grid+ will demonstrate production ready blockchain-based energy solutions at scale in competitive commercial environments in order to enable the transactive grid of the future and prove the advantages of Ethereum over incumbent technologies,” the Grid+ and ConsenSys team said.
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