Electric Blockchain: The Revolution That is Transforming the Power Industry
- Robotina's platform operates as a system of connected devices, digital machines, objects, and individuals.
Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term technology continues to show its versatility in 2018, making waves across numerous industries. While commonly associated with financial services venues or Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term, the technology also has proven to be important to the electric industry, with the potential to disrupt current means of consumption.
In light of this development, many firms have opted to explore and leverage this technology. This includes Robotina, a Slovenian-based venue that specializes in automation technologies. The group has been working to harness the blockchain to help redefine the future of the energy industry that as of 2016 eclipsed $1.4 trillion.
Robotina is no stranger to technology and automation space, having originally been incorporated back in 1990. Unlike many other venues that have only recently initiated their operations, the group has been in existence for nearly two decades and currently employs more than 50 experts in the field of smart-technology development.
The company has successfully implemented its projects across a total of twenty-five countries, and in the process put together an impressive list of clients, including Microsoft, Panasonic, Sharp, and Hitachi, among others. Robotina’s latest project however constitutes its most ambitious and important work yet.
The company is developing a newly optimized platform that combines artificial intelligence (AI), Internet of Things (IoT), and blockchain technology to optimize electrical energy consumption in a sustainable, eco-friendly way.
An intelligent platform
The platform’s purpose will be to reduce electricity consumption and lower costs for both users and producers. This is easier said than done, though working in the group’s favor is the advent of blockchain technology, which has quickly disrupted even the most rigid industries in recent years. In turn, the platform will seek to optimize the functioning of electricity networks while also help protecting the environment.
Reducing the carbon footprint of its operations has remained a core goal for Robotina, while at the same time also pursuing eco-friendly means. The actual framework of Robotina’s platform is intuitive yet quite simple. This includes the monitoring and controlling of real-time electricity consumption and distributed production.
Integrating household devices and appliances can facilitate the sending of anonymous data about usage habits to the platform. That data is then processed and offered to energy producers and distributors, who can use it to optimize the network and reduce costs for all involved.
The platform operates as a system of connected devices, digital machines, objects, and (anonymous) individuals. These components of the platform each have unique identifiers, and can transfer data over a network without any human-to-human or human-to-computer interaction. The entire workflow process is fully automated as well.
ROX: The green fuel powering Robotina’s ecosystem
Blockchain technology allows the platform to utilize Robotina’s Utility Token (ROX), built on the Ethereum standard as its main currency. Consequently, Robotina is using an Initial Coin Offering (ICO) to crowdfund the project. This ICO isn’t just aimed at cryptocurrency enthusiasts; rather anyone who believes in a smarter, greener future is encouraged to join.
The presale of ROX tokens began back on February 21, 2018, while the ICO crowdsale starts as early as next week on March 21. The average token price is set at $0.05, with the presale hard cap pegged at $15.5 million. Of note, the ETH/ROX ratio will be calculated for each phase (presale/crowdsale) separately. Robotina invites everybody who wants to take part in this energy (r)evolution to visit their ICO website and fill out the KYC form.
Numerous benefits for collaborators
Optimizing energy distribution and generating savings for users aren’t the only benefits of Robotina’s platform. In addition, the newly developing platform will also have its own marketplace. This means that each collaborator will have the opportunity to engage in:
- The group buying of electricity
- Power trading with networks that need extra energy resources;
- Aggregated data sale, and;
- Crowd financing of further platform developments.
The majority of earnings will be given back to the community. Robotina’s smart platform is entirely vertical, with a bottom-up architecture, including consumers who will use hardware and software developed by Robotina, as well as collaborators, electricity distributors, and energy producers.
This isn’t just any old business launching an ambitious ICO. Robotina’s will look to leverage its proven experience and extensive expertise, in tandem with several state-of-the-art technologies. With the upcoming ICO, Robotina will look to finally shake up the power industry as well, while looking to install a set new standards. Interested individuals should consult the group’s whitepaper for more information.
Disclaimer: The content of this article was provided by the company, and does not represent the opinions of Finance Magnates. Finance Magnates does not endorse and is not liable for any content presented on this page.
Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term technology continues to show its versatility in 2018, making waves across numerous industries. While commonly associated with financial services venues or Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term, the technology also has proven to be important to the electric industry, with the potential to disrupt current means of consumption.
In light of this development, many firms have opted to explore and leverage this technology. This includes Robotina, a Slovenian-based venue that specializes in automation technologies. The group has been working to harness the blockchain to help redefine the future of the energy industry that as of 2016 eclipsed $1.4 trillion.
Robotina is no stranger to technology and automation space, having originally been incorporated back in 1990. Unlike many other venues that have only recently initiated their operations, the group has been in existence for nearly two decades and currently employs more than 50 experts in the field of smart-technology development.
The company has successfully implemented its projects across a total of twenty-five countries, and in the process put together an impressive list of clients, including Microsoft, Panasonic, Sharp, and Hitachi, among others. Robotina’s latest project however constitutes its most ambitious and important work yet.
The company is developing a newly optimized platform that combines artificial intelligence (AI), Internet of Things (IoT), and blockchain technology to optimize electrical energy consumption in a sustainable, eco-friendly way.
An intelligent platform
The platform’s purpose will be to reduce electricity consumption and lower costs for both users and producers. This is easier said than done, though working in the group’s favor is the advent of blockchain technology, which has quickly disrupted even the most rigid industries in recent years. In turn, the platform will seek to optimize the functioning of electricity networks while also help protecting the environment.
Reducing the carbon footprint of its operations has remained a core goal for Robotina, while at the same time also pursuing eco-friendly means. The actual framework of Robotina’s platform is intuitive yet quite simple. This includes the monitoring and controlling of real-time electricity consumption and distributed production.
Integrating household devices and appliances can facilitate the sending of anonymous data about usage habits to the platform. That data is then processed and offered to energy producers and distributors, who can use it to optimize the network and reduce costs for all involved.
The platform operates as a system of connected devices, digital machines, objects, and (anonymous) individuals. These components of the platform each have unique identifiers, and can transfer data over a network without any human-to-human or human-to-computer interaction. The entire workflow process is fully automated as well.
ROX: The green fuel powering Robotina’s ecosystem
Blockchain technology allows the platform to utilize Robotina’s Utility Token (ROX), built on the Ethereum standard as its main currency. Consequently, Robotina is using an Initial Coin Offering (ICO) to crowdfund the project. This ICO isn’t just aimed at cryptocurrency enthusiasts; rather anyone who believes in a smarter, greener future is encouraged to join.
The presale of ROX tokens began back on February 21, 2018, while the ICO crowdsale starts as early as next week on March 21. The average token price is set at $0.05, with the presale hard cap pegged at $15.5 million. Of note, the ETH/ROX ratio will be calculated for each phase (presale/crowdsale) separately. Robotina invites everybody who wants to take part in this energy (r)evolution to visit their ICO website and fill out the KYC form.
Numerous benefits for collaborators
Optimizing energy distribution and generating savings for users aren’t the only benefits of Robotina’s platform. In addition, the newly developing platform will also have its own marketplace. This means that each collaborator will have the opportunity to engage in:
- The group buying of electricity
- Power trading with networks that need extra energy resources;
- Aggregated data sale, and;
- Crowd financing of further platform developments.
The majority of earnings will be given back to the community. Robotina’s smart platform is entirely vertical, with a bottom-up architecture, including consumers who will use hardware and software developed by Robotina, as well as collaborators, electricity distributors, and energy producers.
This isn’t just any old business launching an ambitious ICO. Robotina’s will look to leverage its proven experience and extensive expertise, in tandem with several state-of-the-art technologies. With the upcoming ICO, Robotina will look to finally shake up the power industry as well, while looking to install a set new standards. Interested individuals should consult the group’s whitepaper for more information.
Disclaimer: The content of this article was provided by the company, and does not represent the opinions of Finance Magnates. Finance Magnates does not endorse and is not liable for any content presented on this page.