Echoin - Public Chain Ecology
The goals of the Echoin public chain are to reduce energy transaction costs, improve energy supply and demand structures, and improve energy data utilization.
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Echoin public chain has proposed a series of blockchain-based solutions aimed at creating an industrial chain optimized for the energy industry. These technical solutions include: 1) Using a DPoS consensus governance mechanism; 2) Using trusted oracles to aggregate energy data, including energy IoT data; 3) Using Plasma sidechain technology to support high frequency trading in the microgrid market and ensure the privacy; 4) Optimizing the virtual machine to encrypt and decrypt identities and private data on the blockchain at low costs; 5) Issuing a stable currency for the settlement of the energy industry chain via trusted oracle machines and decentralized exchange technologies; 6) Developing efficient algorithms for virtual machines to support energy data analysis and data exchange within the energy market; 7) Developing cross-chain technologies to support automated trading between Echoin assets and other public-chain assets, thereby improving Echoin’s integration with the peripheral energy industry.