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Chile Adopts Blockchain Technology For National Energy Grid

Chile adopts blockchain technology for national energy grid

Chile Adopts Blockchain Technology For National Energy Grid

Chile adopts blockchain technology for national energy grid

The Chileanenergy regulatory agency, the Comisión Nacional de Energía de Chile (CNE), has announced that it will implement Blockchain technology in the national energy grid, reports trade publication pv magazine on Feb. 27.

The CNE will use the Blockchain to authenticate information like marginal costs, average market prices, fuel prices, and compliance with renewable energy law. The CNE executive secretary  Andrés Romero stated that the move toward blockchain was done out of concern for data security.

“The National Energy Commission has decided to join this innovative technology and we have decided to use blockchain as a digital notary, which will allow us to certify that the information we provide in the open data portal has not been altered or modified and left unalterable record of its existence,” says Romero.

Romero added that the technology will increase trust in the data provided by the regulatory agency, boosting the confidence of investors, stakeholders, and the public at large. Chile plans to implement the technology in March, 2018.

Blockchain technology has proved a boon for energy companies in regulators in various sectors of the industry. S&P Global Platts recently announced they would be using deploy its own Blockchain solution for reporting information on oil in the UAE.

The WePower project has employed Blockchain solutions to integrating metering data with grid operations and advanced analytics in a effort to build ‘smart metering’. This Ethereum-based platform allows consumers to connect directly to renewable energy sources for their power.

Published at Sat, 03 Mar 2018 02:17:43 +0000

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This looks like another ponzi scheme, similar to Bitconnect. Heavy incentives for referring new people in and “guaranteed returns”. There is already a post on here that received a suspicious amount of upvotes very quickly. Dont take the bait.

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Bitcoin Cash Network Shrugs off Mempool Backlog With Relative Ease

Network congestion is a problem most users would associate with bitcoin or Ethereum. Both of these networks have seen their fair share of issues in this regard. bitcoin Cash saw its transaction backlog grow quite spectacularly this morning. For several hours, someone – or a group of people – were flooding the network with very low-fee transactions. As a result, there was a minor delay in transactions, although things were well within the acceptable limits.  Why any of this is happening right now, has yet to be determined.

bitcoin Cash has not been subject to major spam attacks as of yet. bitcoin, on the other hand, seems to get clogged up with transactions every other week. Keeping this in mind, it’s not surprising to see so many people flock to BCH in recent weeks. This has caught the attention of whoever is responsible for the current “spam” on the BCH blockchain. More specifically, there have been a ton of new transactions to fill up the blocks rather quickly. A rather worrisome development, although things were handled relatively well.

bitcoin Cash Handles the Business

The big question is why anyone would flood the BCH network with low-fee transactions. At a price of 1 Satoshi per byte, inflating overall fees would be rather difficult. After all, users can easily pay double that and not have their transactions delayed. Even with the higher fee, Bitcoin Cash remains a lot cheaper than BTC right now. With this cost in mind, it would cost approximately $16,000 to flood the network for an entire day. That doesn’t seem like much money, thus it is possible this is a well-orchestrated attack. For now, there is no solid evidence to back up such claims.

Unlike what one would expect, this issue has not caused many problems. The bitcoin Cash mempool has been cleared relatively quickly and things are returning to normal. If this was an attack, it was a very weak attempt at causing permanent damage. If such an issue were to affect bitcoin, the fees would skyrocket and transactions backlogged for 24 hours or more. Having a larger block size can be rather beneficial in this regard. It also shows how BCH is better at scaling compared to bitcoin, at least for now.

Whether or not this is a prelude to more attacks, remains to be seen. No one will be surprised to see issues like these arise again in the future. The “fight” between BTC and BCH supporters is far from over Although it’s not exactly a turf war, hostilities are not entirely uncommon either. Attacking a network with low-fee transactions is despicable We don’t know if that is what has happened to bitcoin Cash, though. In the end, the issues seem largely resolved, which is a positive sign.

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The post Bitcoin Cash Network Shrugs off Mempool Backlog With Relative Ease appeared first on NewsBTC.

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