The Energy Web Foundation (EWF) is a global non-profit organization focused on accelerating blockchain technology across the energy sector. Applied Blockchain is an EWF affiliate.
As an EWF affiliate member, Applied Blockchain was invited to run an authority node in the Energy Web Chain blockchain network.
A blockchain network’s security is enhanced via decentralisation, but finding parties with the capacity and desire to run a node is challenging. If the blockchain sits with one or a small number of parties it is easier to undermine than if it is hosted by many independent parties. The EWF Web Chain uses the PoA (Proof of Authority) consensus mechanism which relies on authorities to secure the network, if more than 50% of the authorities were to collude they could undermine the network. Running a reliable PoA node in the network, and providing further assurance through independent monitoring, alerting and reporting, requires blockchain expertise and experience.
Applied Blockchain is an authority in the EWF Web Chain network and helps to secure the network.
The Applied Blockchain Block Explorer allows for transparency of the blockchain which enables trust in the network.