German company Ponton has announced that Enerchain 1.0 has launched and is now live for trading. It is the first blockchain-based distributed trading infrastructure that enables OTC energy trading in power and gas products. The proof-of-concept started in May 2017 together with 44 leading European energy trading companies.
The underlying blockchain framework (WRMHL) is one of the fastest blockchain environments: Achieving a block time of maximum one second and an average end-to-end transaction latency of less than a second.
Ponton believes that the European energy market is expected to be more and more decentralized. “There are only few viable blockchain business cases, but those where a third-party role is replaced by a distributed infrastructure are more than promising. Enerchain is only the beginning of decentralised trading in many industries and we are proud to be its creator, “ says Michael merz, Managing Director of Ponton.
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