Undoubtedly, power is one of the most significant utilities that humans need. From the industrial sector to the homes, there is a need for uninterrupted power supply. That helps the end-users to enjoy unlimited entertainment and produce different items with ease.
Statement of the Problem
Now, the current formulation of the power sector doesn’t augur well for users. Many issues threaten the ideal potentials it has to offer. Against that backdrop, we would look at some of these problems. That would help us understand the problem better and prepare for the solution that has been formulated in that regard.
The first problem couldn’t have come up if the necessary architectures were in place. We’re looking at the current transition from gas, nuclear, and hydropower plants to a more decentralized structure. In the latter category, power generation is hinged on the
Decentralized Energy Resources (DERs). That, in turn, ensures that energy is sourced from other mediums, such as wind and solar. However, there is the problem of getting all the needed renewable energy because many of these are lost during production.
There is also the problem of the unbalanced electricity grid. That forces the electricity operators to struggle to forge the needed balance. Most times, the end-users end up getting fluctuating energy that could damage their electronics.
The issues in the traditional electricity/power industry are many. It wouldn’t be ideal that these continue to hold sway in the coming years. Hence, the development of Serenity promises to breed a paradigm shift from the current framework. In that instance, we would be expecting an uninterrupted and scalable power generation.
What is Serenity?
Serenity Source is a blockchain-based startup with a difference. It is so acclaimed because of the variety of features it has in stock for the energy industry. It would interest you to know that the general aim of the platform is to bring the blockchain technology to another use case. That is, it promises to deploy blockchain to solve the inherent problems in the conventional energy industry. Furthermore, it takes advantage of the decentralized formulation of the network to return powers to the end-users.
Do you want to know all there is to the Serenity blockchain and how they would be of importance to you? Then read further to discover how the platform would reinvent the power generation ecosystem.
Features of Serenity
We’ll now look at the potentialities of the Serenity blockchain, with regards to improving the lots of the end-users in the power sector. Stay tuned because these would be of interest to you. In the end, you would realize why the project is important. You’d also discover the need for its implementation in the shortest time possible.
• Balanced Energy Production
Most times, we complain about the fluctuating power supply. That is because there is an insufficient supply of energy at the time. This is usually caused by the inability of the power operators of balance the needs of the end-users.
Serenity, therefore, delegated its network to solve this problem. Under its robust architecture, you can be confident of fair balance in the electricity supplied to your home and workplace. That is possible because the platform would connect itself to the National Electricity Operators. Through this connection, it would be able to ascertain the power demands made by users. Empowered by the data, it would then proceed to demand the relevant amount of energy from the electricity operators.
In furtherance, it would facilitate the needed transition from the current sources of powers to the full-scale decentralized format through its blockchain network.
• Rewards for Users
Undoubtedly, the dark ages in the conventional energy generation source are now giving way to a better variant. Serenity believes in empowering its users. That informs the reason behind the reward/incentive mechanism that it offers.
In that instance, it helps to cut down the costs of administration. That way, you’re sure of getting clean energy at affordable costs. Besides, you would also get some incentives (Carbon Credits) anytime you aid in the production of renewable energy.
• Local Energy Production
Has it ever occurred to you that energy/electricity can be locally produced without depending on the national grid? Well, that is another aspect of the Serenity blockchain. It has an interest in the local production of energy.
It achieves this by producing energy with the local resources available to the network. With this in place, users can be confident that transmission loss wouldn’t be rampant as it used to be. That is because the energy source is closer to them.
• Transparent Community
It’s worth noting that the Serenity blockchain also wants to create a community where all stakeholders in the energy industry would participate. The ecosystem features notable players like generators and consumers.
Now, it took the notch higher by establishing trust using the decentralized model of the blockchain network. This is achievable through the deployment of smart contracts to establish contacts among the participants. Also, the distributed ledger is responsible for providing immutability both for the tokenized asset and other electricity transactions in the ecosystem.
• Reduction of Residential Electricity Consumption
Indeed, Serenity is here to create a new system for power generation. Aside from boosting energy production, it also helps to cut down on the overt use of the same.
Therefore, it deploys Net-Zero houses, which is a system for reducing the high consumption of energy by residential houses. That way, there wouldn’t be a monopoly of power as everyone would have sufficient energy to go round.
The P2P Trading Platform
It is no news that Peer-to-Peer (P2P) transactions are one of the highlights of blockchain technology. Serenity also took advantage of this to increase the distribution of energy within its network.
For its P2P network, the platform allows prosumers and generators like wind and solar to sell renewable energy. Consumers/end-users can then bid for the available renewable energy in the market.
All these are conducted on the Serenity P2P Energy Trading Platform. At the end of each transaction, the platform would charge a small transaction fee, which doubles as its commission for the transaction(s). So, the functions in that instance, are feasible because every participant would get affordable energy while the platform earns its commission for initiating the transaction(s).
Distribution of Tokens
Token Sales Information
Token Name: SERENITY
Ticker: SET
Token Standard: ERC-20
Platform: Ethereum
Role of Token: Utility
Token Supply: 500 million
Soft Cap: $5 million
Hard Cap: $20 million
Exchange Rate: 1 SET =$0.1
Country of Registration: Australia
Not Participating: Iraq, China, Syria, North Korea, Afghanistan, the United States
Conclusion
The importance of this project takes root in the fact that energy is not cheap. In traditional climes, end-users/energy consumers keep depending on the power generators for this necessity. They also have to deal with the high charges and the interrupted energy supply at intervals.
However, the reinvention on Serenity empowers energy users to be in charge of the amount of energy they get to receive. The platform also allows them to participate in the production of renewable energy and pays them for the service.
Indeed, Serenity has charted a new course for blockchain, where the latter would be applied to the energy sector.
Visit the useful links below for greater insight on this awesome project
🌐 Website
📖 whitepaper
📌 Bitcointalk ANN
💬 Telegram
Writer's info
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