ApolloChain is a clean energy trading platform based on smart contracts. ApolloChain will build a smart grid-based clean energy trade platform that will enable all users to participate in power generation investments and supply at flexible rates through three types of transactional platforms and Three pricing mechanisms.
ApolloChain implements Blockchain technology to form a unique energy trading platform that targets all non-navigation and retail energy markets worldwide with a possible user base engine. power plants, wholesalers, retailers, institutional or individual electricity consumers, to realize the direct electricity trade between them.
The purpose of ApolloChain
ApolloChain's main goal is to make power consumption not boring and spend more. In this case, you can play with it on our platforms through commercial / real time / sales sales.
ApolloChain will start with solar energy first, so family members and even some institutional players can easily engage in this exciting ecosystem.
In the future, ApolloChain also has various plans for power consumption that will allow participants to invest in shared electronic chargers and built-in UAVs on their premises and earn fixed returns from public companies as well as express or logistics companies.
Conventional Energy Trading Mode
Operated and managed by a centralised transaction institution is the most common practice of current energy trading. Apart from sustaining its dynamic equilibrium, a large number of third-party institutions (e.g. insurance, credit, finance lease, rating, etc.) are involved in the energy trading system for insuring the transaction safety. Such overloaded transaction processes and establishments, from the cost and security perspective, stand for enormous maintenance cost, expensive third-party fees, and dramatically being prone to defaults of data loss and tampering.
At the same time, centralizing and managing all transaction and user information, the agency is very vulnerable to the loss and tampering of data faced with internal and external attacks. The agency cannot guarantee user privacy and will impair the interests of all parties.
The things that are required in conventional energy trading mode are the following:
- The overall structure of the ApolloChain new energy trading platform
- Peer to peer trading
- Energy information
- Charging stations
- Demand side management
- Smart metre
- Smart grid
- Smart energy storage system (SESS)
- ApolloChain APP
- Security check
- Methods of congestion management
ApolloChain Technology
Design Philosophy
Specifically, the underlying platform offers basic blockchain functions to serve the upper-layer applications but also considers its transferability, in order to be adapted to the rapid developing blockchain technology.
The core team has significant energy and blockchain market experience. ApolloChain technology scenario contains 3 layers: application service layer, platform components layer, and Apollo’s underlying platform.
The middle-layer with platform components generates a service platform providing available service components. The earliest integration includes digital ledger, digital asset, certificating service and so forth ensures the upper-layer’s operation in the energy industry. The top layer is the energy application service layer, offering user friendly, trustworthy, fun and convenient blockchain applications to trading entities and end-users.
ApolloChain Underlying Platform
Basic Services
The underlying platform provides interface adaptation to the blockchain to facilitate the migration of the entire system. Some of the existing mature blockchain technologies already provide basic services such as consensus management, network communications, storage records, and mining mechanisms. ApolloChain will select appropriate models and mechanisms considering the characteristics of the energy industry.
User Management
The platform manages participants’ information including records of associated users and the real registered names of organisations, and generation and management of corresponding public and private keys.
Smart Contracts
Blockchain is essentially a distributed database. Compared with traditional databases, blockchain increases the difficulty of tampering with data and features high information security. However, as a data storage technology, blockchain has limited functions. Therefore, people propose combining smart contracts with blockchain to achieve functions that are more complex.
Completion of Transactions and Records of Information
Design Philosophy
Specifically, the underlying platform offers basic blockchain functions to serve the upper-layer applications but also considers its transferability, in order to be adapted to the rapid developing blockchain technology.
The core team has significant energy and blockchain market experience. ApolloChain technology scenario contains 3 layers: application service layer, platform components layer, and Apollo’s underlying platform.
The middle-layer with platform components generates a service platform providing available service components. The earliest integration includes digital ledger, digital asset, certificating service and so forth ensures the upper-layer’s operation in the energy industry. The top layer is the energy application service layer, offering user friendly, trustworthy, fun and convenient blockchain applications to trading entities and end-users.
ApolloChain Underlying Platform
Basic Services
The underlying platform provides interface adaptation to the blockchain to facilitate the migration of the entire system. Some of the existing mature blockchain technologies already provide basic services such as consensus management, network communications, storage records, and mining mechanisms. ApolloChain will select appropriate models and mechanisms considering the characteristics of the energy industry.
User Management
The platform manages participants’ information including records of associated users and the real registered names of organisations, and generation and management of corresponding public and private keys.
Smart Contracts
Blockchain is essentially a distributed database. Compared with traditional databases, blockchain increases the difficulty of tampering with data and features high information security. However, as a data storage technology, blockchain has limited functions. Therefore, people propose combining smart contracts with blockchain to achieve functions that are more complex.
Completion of Transactions and Records of Information
Considering that the security check of power transactions requires the acquisition of all transaction information over a period, ApolloChain sets a cycle for the transaction: a set of transactions is completed every 15 minutes. After the market participants reached bilateral and multilateral transactions through the game, the transactions are temporarily stored in the memory of each node in the form of smart contracts.
Implementation of safety check and congestion management
Once all nodes agree on the latest set of contracts, they conduct a security check on the transaction. If the safety check passes, the contracts will be recorded on the block chain.
Operation Monitoring
This module reports the log records and output of other modules and tests the real time running of contract setting, user management, and business scenario logic to detect any errors of the entire platform.
Realization of Value Transfer
In the actual operation of Apollochain system, the smart metre will record the electric energy emitted and used by the user in a certain time, and record it on the block chain. When the transaction time arrives, the smart contract will automatically complete the transfer of funds based on the electricity data sent by the smart metre to the block chain.
Apollochain Service Modules
Authentication Service
The authentication service module is mainly used to verify some of the trust mechanisms in the energy-trading scenario and the content that needs to be trusted.
Digital Ledger
In all processes of energy trading, financial scenarios such as settlement, reconciliation and liquidation exist in both trading platforms and financial institutions. In the process of reconciliation, traditionally, the reconciliation cycle is based on natural days, and features mutual trust between the two parties, with exchange of bills.
Digital Assets
The digital assets module records and converts the corresponding assets of the energy industry to facilitate the digitalization and tracking of energy assets in the blockchain.
Energy Services
ApolloChain provides decentralized scenarios based on end users. Based on ApolloChain's analysis and experience of the energy trading industry, ApolloChain will classify scenarios into three groups, namely digital billing, asset certification, and institutional clearance.
Roadmap
Conclusions and References
Thus the discourse articles and information ApolloChain project. In essence, ApolloChain is a very admirable modern disintermediary energy trading platform. Hopefully everything presented makes reference and knowledge for you. May all our steps always be given success.
For those of you who want to dig deeper information about ApolloChain can directly visit the following link:
- Website: http://www.apollochain.io/
- Ann Thread: https://bitcointalk.org/index.php?topic=3396297
- Whitepaper: https://downloads.apollochain.io/docs/WhitePaper(Technical+Version)-v2.0.4-5th+May.pdf
- Medium: https://medium.com/@apollochain
- Reddit: https://www.reddit.com/user/apollochain
- Instagram: https://www.instagram.com/aplchain_official
- Facebook: https://www.facebook.com/apollochain
- Twitter: https://twitter.com/apollochain
- Telegram: https://t.me/apollochaingroup
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