Power Transition is integrated into the Hedera Token Service to radically develop the energy sector

The recent integration of the Hedera Token Service (HTS) into the Digital Energy Platform (DEP) of Power Transition enables the rapid introduction and provision of Dapps in all national energy network infrastructures in which the immediate fulfillment of local requirements and standards for the exchange of values ​​was not possible In front

Power Transition Ltd, a leading provider of Distributed Ledger Technology (DLT) -based digital energy platforms, announced today that it has integrated the power of the new Hedera Token Service (HTS) to enable instant energy trading and value sharing. HTS is a new service that provides the ability to issue and configure tokens on the Hedera network while taking full advantage of the network’s outstanding performance, security, stability and governance. HTS offers a faster, more efficient alternative to creating smart contract tokens.

“HTS significantly increases our speed to market by enabling customizable and stable value transfer capabilities,” said Jiro Olcott, CTO of Power Transition. “With HTS we can now quickly locate our energy trading dapps for every customer, regardless of the country or currency in which they operate.”

Power Transition has released the latest update to DEP, which enables supply chain participants to track and trade power, helping to quickly offset power consumption in a decentralized renewable power grid at low cost and with minimal carbon footprint. Power Transition uses the Hedera Consensus Service (HCS) and mirror nodes and has integrated HTS as a fiat currency-linked energy token. This has changed the way customers can transfer electricity and other forms of value across the energy sector. HTS has simplified operations and reduced risk while improving the company’s ability to quickly localize its Dapps in international markets.

“Power Transition is one of the first to adopt Hedera Hashgraph. Since the first version of our TestNet, they have worked successfully with our development team to test and ensure the Hedera DLT functionality when their services are rolled out,” said Christian Hasker, CMO of Hedera . “They quickly recognized the advantages of HTS and integrated them into their suite of Dapps from the energy industry.”

Tokens created with HTS inherit many of the characteristics of hbar, including Asynchronous Byzantine Fault Tolerant (ABFT) consensus, world-class governance, and thousands of transactions per second with finality – in addition to predictable, low fees. HTS provides the ability for anyone to create and use stable coins, utility tokens and more that are issued on the Hedera platform by creating a Hedera Hashgraph account.

About Power Transition

Power Transition was founded in 2018 and is a leader in the development and development of digital energy platforms based on DLT of the 3rd generation. Your Dapps suite supports a common operating framework for trading and exchanging values ​​in the energy sector, from microgrids and electric vehicles to national grids. Driven by Hedera Hashgraph, the company aims to provide the trust layer for the digital energy industry worldwide.

About Hedera

Hedera is a decentralized corporate public network where anyone can create secure, fair applications in near real time. The platform is owned and run by a council of the world’s leading organizations, including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, Eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds and Tata Communications, University College London (UCL), Wipro and Zain Group.

Photo by Lukas Bato on Unsplash

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