• Communication
  • Payment
  • Platform
  • Software
  • Wallet

GRIDNET 1.75/5 (1) - Cryptocurrency Ecosystem

The blockchain technology seems to be regarded by many, as a revolution, on the scale comparable to the advent of the Internet. The blockchain by itself is a rather simple data structure. The cryptocurrency design details account for the security of the underlying system. In this work, we present the design of our cryptographic system for use in Smart Grid environments. The mechanism is to incentivize distribution of greenfield energy, but also, to handle and encourage the required data transmission and storage. In our design, value of the cryptocurrency, as well as, of the energy itself, is determined solely by forces of supply and demand. Our design is unique in that, Smart Meters are the...

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1.8
Hype2.0
Security2.0
Team1.0
Vision2.0
  • Token: GNC
  • Price: 1 BTC = 1,301,935 GNC
  • ICO start: 5 Jan 2018
  • ICO end: 31 Jan 2018
  • Country: Poland
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The blockchain technology seems to be regarded by many, as a revolution, on the scale comparable to the advent of the Internet. The blockchain by itself is a rather simple data structure. The cryptocurrency design details account for the security of the underlying system. In this work, we present the design of our cryptographic system for use in Smart Grid environments. The mechanism is to incentivize distribution of greenfield energy, but also, to handle and encourage the required data transmission and storage. In our design, value of the cryptocurrency, as well as, of the energy itself, is determined solely by forces of supply and demand. Our design is unique in that, Smart Meters are the only trusted actors. We stress the importance of features required by, such a system; to be regarded as secure, distributed and indeed – decentralized. We advocate, that a smart-meter is the only element required to be trusted; and that should hold true only in regard tomaking energy measurements. We show, why a cryptocurrency based system, which we have designed, is particularly suitable for energy-distribution scenarios, especially in limited-trust environments, where anonymity and security of data transmission are of the essence. Our hereby proposed system provides a fully distributed market for prosumers, costumers, power line owners and any other entities involved in both energy and data distribution. In this paper we focus on the architectural design.

The GRIDNET architecture incorporates a fully distributed communication system, which rewards intermediaries based on the amount of data they help to disseminate. The communication system lacks any kind of a trusted third party, while providing mechanism for protection against various kinds of impersonation attacks and hideous behavior. At the very core, end-to-end encryption is maintained at all times. FD-GRIDNET protocol is the first fully distributed communication system to reward intermediaries with a universal wealth. It incorporates a distributed ledger database, also termed colloquially as a ‘blockchain’. We utilize the concept of proof-of work, as well as, proof-of-stake. Proofof-work mechanism has already been used by various cryptocurrencies and popularized initially by Bitcoin, which in turn, paved the path for others. Bitcoin was the first to use the concept of proof-of-work to reach consensus on the state of a distributed ledger database containing transactions between users. When considering a communication system which is to provide a fair spread of rewards for the intermediaries, we inevitably need to keep track of data packet deliveries. In a Fully-Distributed GRIDNET architecture, every data flow is tracked and resolved through a distributed ledger database. No communicated data is ever stored anywhere and communication identifiers are completely anonymous. Therefore, we do not see need in generating new identification addresses for each transaction. In case of a misbehavior – such users could be easily marked as malicious by an ‘authority’. In our protocol, full-nodes verify communication flows and relay tickets. The byproduct of the process, being a virtual currency, spread among relay nodes in accordance to their contributions. Every participant in our network is tight to a stake. The proofof-stake mechanism is used to thwart hideous incentives. Each and every user needs to perform a certain proof-of-work related to one’s identity before being able to participate inside of the network. This proof would then serve as a stake. When a node begins to cheat, the stake would be lost.

Team

Milestones

  • January 2016
    The project was born. Formulation of problem constraints and required features
  • March-June 2016
    Extensive research, first version of GRIDNET protocol (DRM mode only)
  • June-August 2016
    Whitepaper: First whitepaper under review for the IEEE ICOIN 2017 Conference in Vietnam
  • October-December 2016
    Research and initial development
  • January 2017
    CONFERENCE - GRIDNET whitepaper presented at the IEEE ICOIN 2017 conference in Vietnam Development: GRIDNET Core implementation enters the first phase
  • February-March 2017
    Extensive simulations of both DRM and ORM mode of operation
  • February-June 2017
    Research: State-Full and State-Less Blockchain contracts Research: Formulation of the Onion Routing Mode of operation Smart Meter research and development enters Stage 1
  • February 2017
    Development of GridScript language has began Research and development of ULTIMIUM mechanism
  • June 2017
    GRIDNET Core implementation enters the second phase
  • June-July 2017
    Whitepaper: GRIDNET eco-system for use in Smart Grid environments - under review
  • October 2017
    Updated Botan crypto library to allow for signatures and encryption using the same ECC key pair GridScript language evaluation and tests CONFERENCE - Presentation of the GRIDNET Eco-System at IEEE SmartGridComm 2017
  • November 2017
    Development: Wallet Development, Core Client Development, GPU Miner development and GridScript execution environment enter Stage 3 GRINET enters ICO stage. Early investors welcome
  • March 2018
    Source Code of Wallet, Core Client , GPU Miner and GridScript execution environment made public. GRIDNET goes LIVE! Development: GRINET Relay Framework implementation enters phase one
  • June 2018
    GRIDNET Relay Client released Development: GridScript IDE development enters phase 1 GRIDNET Data Relay Network becomes operational (both ORM and DRM)
  • July 2018
    Research: Smart Meter research and development enters Stage 2
  • December 2018
    First Prototype of GRIDNET compliant Smart Energy Meter GRINET Relay API for mobile devices released Alpha version of GridScript IDE released
  • January 2019
    First field trials of Smart Energy Meter prototypes Development: GridScript IDE development enters Stage 2 Development: GRINET Relay Framework enters Stage 2
  • June 2019
    Research of an Autonomous Smart Energy Controler
  • December 2019
    First Autonomous Energy Controler trials

Token

  • Platform: GRIDNET
  • Price: 1 BTC = 1,301,935 GNC
  • Accepting: BTC, ETH
  • Token distribution: 70% - Crowdsale 15% - Team 15% - Long term investments
  • Hard cap: 2,603,871,605 GNC

Proof Points
2/5

Legal entity

GRIDNET has no own legal entity but it is written to be based on Poznan University of Technology, Poland

Proof

 

Prehistory of project

No prehistory of project were found

Product or its MVP

There is Android app developed

Blockchain experience

GRIDNET team is not showed. Blockchain experience cannot be searched

Escrow

No escrow information were found

Comments

Update: 04.03.2018

Media

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