Introduction
Blockchain technology is a network that is expanding into different industries and fields. Organizations and companies are beginning to expand and integrate the technology into their operations and services. Individuals have also built interest in the technology, how it makes most of daily activities and engagements easier and more convenient. This is becoming a common trend in the business world because of the unique features of blockchain technology and the improvements it offers the business processes. For businesses that intend to incorporate the technology of blockchain, they usually build or find a network that supports their business models and patterns.
As blockchain technology gains more traction, new and innovative networks are sprouting up. Candela is one of those networks. It is a new and ground-breaking initiative targeted at empowering services and processes in the solar energy industry. The idea behind the Candela network focuses on connecting peer-to-peer solar energy transfer using the blockchain technology. Put holistically, the Candela project is about making energy readily accessible for everyone at a suitable cost, quality service, and with high efficiency.
Candela network is developing innovative ways through which its platform using blockchain technology can improve the use of solar energy. Some applications of the network in the solar industry include:
Application 1: Peer-to-Peer Energy
The first application of the Candela network is creating a peer-to-peer method of the use of solar energy. Presently, consumers can access energy through the generation of electricity by companies. Distribution utilities and retailers transmit the electricity from these generation companies to consumers to use. Most of these production companies depend majorly on fossil fuels and natural gas to generate electricity and this is unsafe to practice on a low scale by individuals. Hence, there cannot be a peer-to-peer energy distribution of electricity.
However, with the introduction and gradual global adoption of solar energy, which allows private or individual production of electricity using solar panels, private owners can now distribute the energy obtained from the sun among their neighbors. This is one of the applications of the Candela Network, the purchase of energy is not between utility companies and customers, rather, will be between two or more customers, one as a prosumer and the other(s) as consumers.
How does this work? A prosumer, who intends to produce electricity from solar energy for personal use and then, sell some amount to other consumers, will need to purchase a Candela compliant metering device. This prosumer also downloads the candela mobile application, enabled by the Candela coin (CLA), in addition to the metering device, which allows him to join the local marketplace for the solar energy exchange. A consumer who plans to buy the electricity from the prosumer also downloads the app, joins the local marketplace, and pays for the local renewable energy using the CLA tokens.
Application 2: Decentralized Solar Energy Matrix
The Candela network also intends to assist local communities to generate their decentralized solar energy matrices. This application will promote peer-to-peer energy trading between the prosumers and consumers. These decentralized matrices include a collection of combined grid-edge hardware and software technologies, targeted at building resourceful and clean-energy systems.
Candela will be the enabling functionality to boost the organization of the decentralized architectural model of the future for energy in communities using the solar energy matrices. Developers, investors, and vendors can get value and make profits by earning and saving the CLA tokens.
Application 3: Connectivity Event
This application of the Candela network involves the creation of a link between solar energy matrices. This will allow the transfer of electricity between the matrices. Candela network will use this connectivity strategy to save investment costs in building new energy infrastructures.
Application 4: Electric Vehicle Smart Charging
The development team of the Candela network also envisions the application of the innovation to electric vehicle smart charging. With the number of EV cars increasing yearly, there will be a need to provide more access to renewable and clean energy for charging the vehicles. This is the need Candela wants to meet.
Candela Useful Links :
(Website) : https://www.candelacoin.com/
(Whitepaper) : https://uploads-ssl.webflow.com/5ee80918fa53c4dbf6968b3c/5f111ea74156e3098fb6874d_white%20paper%20
(Instagram) : https://www.instagram.com/candelacoin/
(Telegram) : https://t.me/candelacoindiscussion
(Twitter) : https://twitter.com/candelacoin
(Facebook) : https://www.facebook.com/Candela-Coin-111118247315246/
(LinkedIn) https://www.linkedin.com/company/candela-foundation/
Publishers Details :
Bitcointalk Username : Balili
Bitcointalk profile link :https://bitcointalk.org/index.php?action=profile;u=2659344
Proff of Registration : https://bitcointalk.org/index.php?topic=5267259.msg54964485#msg54964485