Internet of Energy Network IOEN

The Internet of Energy Network (IOEN) is an intelligent open-source protocol that aims to drive a community-driven revolution in the clean energy transition. It includes distributed accounting, transactions, and applications for the clean energy sector. IOEN integrates with energy devices and users through a unique agent-based architecture developed by its partner platform, Holochain. The protocol has a dual-layered solution, with the second layer called IOENFuel, which is a mutual credit accounting system representing energy data transactions. IOENFuel can be traded for IOEN tokens at a rate proportional to the amount of IOENFuel flowing through the virtual microgrid. Redgrid is the commercial entity that provides applications and delivery services using the open-source IOEN protocol. They have been involved in UN award-winning microgrid projects and other community energy projects in the Australian market.

The Internet of Energy Network (IOEN) is unique compared to other cryptocurrencies because it is not just a digital currency, but also a community-driven protocol and technology for the clean energy transition. IOEN integrates with any energy device or user, connecting them through a unique agent-based architecture. It has a dual-layered solution, with IOENFuel as the second layer, which represents energy data transactions credits and debits inside the virtual microgrid or application. This mutual credit accounting system allows for better trading value based on the number of transactions. Additionally, IOEN provides business services specifically tailored for the Australian market and grids, making it more usable and practical for energy applications and services.