Parity Technologies, developers of the Polkadot system, partners with Energy Web to launch Energy Web Consortia Relay Chain
Partnership
Parity Technologies and Energy Web, a non-profit building operating systems for decarbonized energy grids, announced their joint plans to ”enable energy sector enterprises to run sovereign, customizable blockchains of their own or in partnership with other energy market participants”.
The Consortia Relay Chain is the next step in a long-term partnership between the two organizations. The current Energy Web chain is based on an Ethereum Virtual Machine and Proof of Authority consensus mechanism originally developed by Parity Technologies. Launching the Consortia Relay Chain with Parity is the outcome of many years of co-development between the two organizations.
Energy Web is a global, member-driven non-profit accelerating the low-carbon, customer-centric energy transition by unleashing the potential of open-source, digital technologies. Energy Web Decentralized Operating System (EW-DOS) enables any energy asset, owned by any customer, to participate in any energy market. The Energy Web Chain — the world’s first enterprise-grade, public blockchain tailored to the energy sector — anchors the EW-DOS tech stack.
Quotes
The upcoming Consortia Relay Chain is a crucial milestone on Substrate’s way to massive adoption, as stressed by Parity’s founder, Dr. Gavin Wood: We see this partnership as a great opportunity to help enterprises in the energy sector get hands-on with some of the most advanced decentralized technologies in production—namely customized runtimes and flexible governance mechanisms for all kinds of blockchains, private, public, hybrid or otherwise.
Jesse Morris, CEO of the Energy Web Foundation, explains why his non-profit chose Parity as its strategic long-term infrastructure partner: There is a massive amount of innovation happening in other Web3 ecosystems, such as Polkadot and Kusama, and we want to make sure this innovation comes to the energy sector. By working with Parity to bring the Consortia Relay Chain to life, we can give our members access to new innovations like on-chain governance, native interoperability, robust scalability and other features that Substrate and Polkadot enable.
The Consortia Relay Chain infrastructure will be developed as an opt-in solution with and for the current Energy Web ecosystem and require a new token. “The Energy Web Foundation was founded with the vision to create a more resilient and inclusive backbone for energy markets through decentralized software. The new Chain is a logical next step in the development of the initial vision enabling regulated energy market companies and innovators to develop their own sovereign, customized chains while staying interoperable.” said Ewald Hesse, Co-Founder and Foundation Council member of EWF.
