Blockchain-based renewable energy marketplaces gain traction in 2021

Blockchain-based renewable energy marketplaces gain traction in 2021


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 of bringing blockchain technology to the global energy grids as a way to encourage renewable energy generation through a flexible marketplace that connects energy buyers and sellers.

EWT/USDT vs. POWR/USD vs. WPR/USD 1-day chart. Source: TradingView

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Three energy-focused projects that have seen triple-digit gains since the beginning of 2021 are Energy Web Token (EWT), Power Ledger (POWR) and WePower (WPR).

EWT/USDT

Energy Web Token (EWT) is the operational token for the Energy Web Chain, an open-source enterprise blockchain designed to support and further application development for the energy sector.

According to the

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