Provide the source of power for enterprise development

Provide the source of power for enterprise development

Echoin, |OKEx Jumpstart\'s highest-yield cash flow program, leads the new-energy trend

The project Echoin, which is deeply invested by engine capital, aims to build a decentralized energy trading network and solve the pain points of the imbalance between supply and demand structure of traditional energy industry, high transaction settlement cost, low energy data utilization rate and low new energy utilization rate. Echoin will form an ecosystem of \"public chain + intelligent contract + virtual machine + wallet + decentralized exchange + cross-chain\", finally serving c-terminal users, DAPP developers, financial institutions and upstream and downstream enterprises.
Up to now, Echoin has obtained strategic investment from many well-known institutions, such as engine Capital, gravity Capital, golden krypton group, hunter Capital, imagination fund, creat Capital, Ben rui Capital, Block Capital, vector Capital and ba-wei Capital.
Echoin, the highest return on OKex IEO projects, has been up for half a month
Among the TOP5 exchange IEO projects evaluated by overseas well-known institutions recently, Echoin, which was incubated by engine capital investment, has the highest rate of return among all the projects in OKex IEO, and ranks among the top four in the global return rate (due to the volatility of the global digital economy, it is also said to be the third in the world).
Nearly half a month after its launch, Echoin has come up with a perfect k-chart. In terms of current earnings, EC has performed best, leading all the projects with a high yield of 411%.
The EC, priced at 0.0113USDK, opened strongly at 3.5 times at 16:00 on August 8, with a maximum increase of 519%.
In the middle and late stage of the current bear market, when the market is short of funds, this is the most brutal stage of the game and the test is the ability to make money. Echoin undoubtedly highlights the encircle. Overbooking 10.3 billion, Mytoken repeatedly hot search first, 24h increase first......
Energy market trends and policies
The following trends are driving the development of the energy sector:
1. Rise of energy trading market. With the marketization of global energy trading and the increase of market entities, the management and control of the trading process between market entities and the solution of data negotiation have become the urgent demand of current energy trading.
2. The popularization of distributed energy (DER).
3. Energy waste is serious. In addition to the necessary energy conversion consumption in the process of energy production, resource planning, energy structure planning and loss in energy transmission engineering are all important factors causing waste.
4. Internet of things (IOT) technology develops rapidly. The combination with the decreasing bandwidth cost of the communication network provides the possibility of intelligent monitoring and functional control of the power grid.
5. Threats to the sharing economy. The characteristics of sharing economy add economic value and provide efficient solutions for point-to-point transmission.
In terms of policy:
In February 2016, the national development and reform commission, the national energy administration and the ministry of industry and information technology jointly formulated the guidance on promoting the development of \"Internet plus\" smart energy. According to the guideline, the construction of energy Internet will be promoted in two stages in the near and middle stages. Pilot demonstration will be carried out in the early stage, followed by promotion and application, and 10 key tasks will be identified. The guidelines set out the goals of energy Internet construction: from 2016 to 2018, we will work hard to promote pilot and demonstration projects of energy Internet, and build a number of pilot and demonstration projects of different types and sizes. In 2019-2025, China will strive to promote the diversified and large-scale development of the energy Internet, initially establish an energy Internet industry system, form a relatively complete system of technologies and standards, and promote the internationalization of the energy Internet.
In terms of policy, the country has been promoting the construction of energy Internet. As the blockchain technology also supported, it naturally has a combination point on this point.
The design goal of Echoin public chain is to build decentralized energy trading network with block chain technology. Such main spot trading network can solve the energy industry, because of the particularity of the energy industry, high energy trading network business needs and business are not universal block chain networks can be solved, with the development of the energy market, to create a unique technical characteristics for the energy spot Echoin chain system, can be in the future energy scenarios are widely used. Decentralized decision making depends on the coordination of various nodes and scheduling modules in the distributed energy system to ensure that the whole system is always running at an efficient level.
The energy transaction data on the block chain cannot be tampered with, so the trust problem of the transaction is largely solved, the credit risk is reduced, and the credibility of the energy transaction subject is improved.
One of Echoin\'s case studies: edf
In October 2018, the Echoin team worked with more than 40 of their energy companies through the introduction of the British energy agency.
In November, Echoin team participated in the Rome conference of the United Nations international energy agency. At the meeting, Echoin also introduced the energy ecology of Echoin to the relevant energy enterprises or government agencies in India and Italy. They are interested in Echoin and are gradually contacting with it.
Echoin\'s landing project is a collaboration with edf, which has completed the first phase of edf\'s deployment of a decentralized energy trading platform, currently under development for phase 1.5.
Echoin\'s edf project is primarily a scenario of a distributed grid connected to the public grid. Because prices are cheap, end-users tend to use distributed grids, which can sell excess electricity in addition to their own use.
French grid cooperation process
Echoin\'s second case study: baobang
The popularity of electric vehicles further increases the user\'s demand for charging piles, and the distributed characteristics of charging piles bring challenges to the centralized management of the grid for charging pile network. From the perspective of users, charging piles around the world are mostly distributed in pre-built infrastructure such as gas stations and parking lots, which is far from enough to meet the increasing number of electric vehicles. For electric car users, the battery life of electric cars has limited their use in daily life to some extent. For example, the flagship electric vehicle of a certain brand with the highest sales volume can reach a range of 480 kilometers, but the use of electric vehicles for long-distance travel is still limited because the construction of charging pile infrastructure is far from the popularity of traditional gas stations.
Blockchain provides a feasible scheme for the management of charging network. The mature application of distributed network, point-to-point trading and incorrigibly integrated into the energy trading mode of car owner state, directly participating in energy supply, conforms to the current demand of charging pile network.
Echoin, as the strategic partner of car owners state, is working together with car owners state to explore the development of \"Internet plus\" smart energy.
Team background
The founder and chief scientist of Echoin is Gavin Zheng. Gavin Zheng has a strong educational background. He majored in computer science in huazhong university of science and technology, studied for a master\'s degree in informatics in McGill university, Canada, and received his MBA from Rotman school of business, university of Toronto.
Gavin Zheng has rich practical experience. After work, Gavin Zheng has mastered the design and development experience of quantitative trading platform based on block chain. I used to be the manager of product technology department and technical architect of bell company for a long time. In 2012, I began to study bitcoin, and later I successively turned to the codes of ethereum, leuwin, rebo and super ledger, and developed payment gateway based on rebo and intelligent contract products based on ethereum.
Governance mechanisms and special models of energy transactions
All blockchains are essentially deterministic state machines driven by transactions, and the consensus is to agree on deterministic transaction order and filter invalid transactions.
Echoin USES the consensus governance mechanism of DPoS, and the verification node will be composed of 25 major stakeholders, namely 25 leading energy and blockchain industry organizations and enterprises, to form the management committee. In fact, DPoS mechanism integrates the advantages of Pow and PoS, not only improving the speed of authentication and transaction, but also ensuring the relative fairness of transaction.
Echoin ecology USES a dual token system. EC is gas in Echoin\'s public chain ecology, which is used to pay the labor remuneration of network maintainers and verification nodes.
EUSD is a stable currency issued 1:1 with the pledge of us dollar fiat money, which is issued on the public chain of Echoin. The advantage of the EUSD over the us dollar is that it is much cheaper to transact and it can be used to settle trades much faster in a long and complex energy supply chain.
Echoin considers that when combined with energy entities, customers with existing businesses cannot afford to pay EC gas fee first when executing business contract code. By introducing the local native authorization calling function, enterprises can choose to authorize users to execute transactions for free. When users trigger business contracts, no additional fees need to be paid.
Typical energy use and energy trading scenarios involve multiple real world identities and a large number of confidential chain records. The desensitization mechanism of contract data designed by Echoin for this purpose greatly reduces gas consumption by introducing native functions to perform encryption and decryption operations, enabling the public chain to provide trusted confidential transactions for the energy industry.
Engine depth investments incubate Echoin with impressive results
Engine capital is more inclined to support projects with more practical technologies when selecting projects, which can really reduce labor, improve productivity and change production relations in the blockchain field. Echoin is a successful investment both in terms of the return on investment and the actual application. Therefore, we hope Echoin can improve the energy efficiency in the traditional field and really solve the rigid demand.