New test network for blockchain technology launched

A blockchain and application layer test network has been launched by the Energy Web Foundation (EWF). The open source technology infrastructure will facilitate both commercial and non-commercial blockchain applications in […]

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By Priyanka Shrestha

A blockchain and application layer test network has been launched by the Energy Web Foundation (EWF).

The open source technology infrastructure will facilitate both commercial and non-commercial blockchain applications in the energy sector.

Blockchain is a distributed database that is continuously updated and verified by its users, with each added block of data “chained” and part of a growing list of records.

It enables the transfer of assets and the recording of transactions through a secure database.

Named ‘Tobalaba’, the test network uses Parity Technologies’ Aura Proof-of-Authority consensus engine, enabling designated authorities to validate transactions following a jointly agreed structure.

Some of the organisations set up on the system include ENGIE, Shell and Singapore Power Group.

Ewald Hesse, CEO of Grid Singularity and Vice President of EWF, a global non-profit firm focused on accelerating blockchain technology across the energy sector said: “The source code will be available to the public from November 1, 2017, with enhancements added continuously and developments published on the EWF Wiki.”

New and innovative technologies will be discussed at Energy Live Expo on November 2nd in London. The last few free tickets are available for energy end users.