NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

International ‘Virtual Microgrid’ Project IOEN Successfully Closes $2.8M Fundraise

NewsBTC
NewsBTC
3 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

IOEN, an energy-focused project by a group of people passionate about saving the environment, has announced its successful funding. According to the official statement, the project has closed at a $2.8M investment by notable investors and blockchain leaders. They have chosen to use a combination of Holochain and efficient energy use to significantly cut back on total energy requirements and help the integration of renewable energy in communities worldwide.

Cryptocurrency despite its many benefits is detrimental to the environment on a scale that many people choose to ignore. Ethereum and Bitcoin mining alone use up more electricity than entire countries in some cases. Crypto mining is an integral part of the blockchain which involves using computers to solve complex problems. This computational power is used as a verification process for transactions to keep intermediaries out and maintain the integrity of the chain. Although necessary, it is a problem that many have pointed out and hope to solve.

Chains such as Ethereum have chosen to improve on this by changing their mining process from a proof-of-work to a proof-of-stake. This will reduce operational costs by an amazing 99.95% and further make transactions on the chain cheaper and faster. With Ethereum 2.0 already underway we could see a huge downturn in crypto’s environmental effects soon.

Regardless, it highlights a problem that seems integrated into cryptocurrency by default and must be addressed should mass adoption ever be realized. Cutting energy costs has been a constant topic over the past decade in many industries. The effects of climate change are constantly being felt and despite all claims to the contrary, continuation down this path will surely destroy the planet.

IOEN’s Virtual Microgrid Solution

While searching for a way to solve the energy crisis, IOEN has set its sights on developing a greener, scalable, and long-lasting answer. IOEN is a non-profit initiative that seeks to use efficient distribution and management of energy to bring a greener energy alternative to the market. With open-source protocols and cryptocurrency, the project will empower communities worldwide to develop mini- and microgrids of connected devices to promote efficient energy distribution and gradually reduce overall energy requirements worldwide.

As a result, energy needs will be fulfilled via local device consensus. Devices will work to inform one another about the grid’s energy needs and distribute the electricity where it is required. By integrating these grids into society and interconnecting them worldwide, the creation of a global virtual energy grid would give birth to a highly effective energy management system.

IOEN Attracts Huge Investor Support

To further their goals, IOEN has struck decisive relationships with a few names in the crypto space. It announced a $2.8M raise in its private funding rounds amassing various industry tycoons and popular venture funds. SL2 Capital led the round, building on their thesis to back mission-driven founders and support technologies creating new industries. SL2’s approach to incubate and use their extensive capital networks has brought significant investors who share the IOEN vision. Throwing their cap in the ring is Skyman Ventures. Focused on DeFi, gamefi and NFT technologies, Skyman Ventures is dedicated to helping crypto companies grow with capital, media and marketing. Similarly Maven Capital is supporting the project with capital and extensive networks of new crypto protocols.

Holo, AU21 Capital, and Insignius Capital, among others, are also on the list of supporters of IOEN’s journey to a greener earth. With such heavyweight funding and marketing behind them, IOEN’s goal could become a matter of when rather than if.

Why Holochain?

Holochain leapfrogs the traditional consensus required on conventional blockchains which in turn massively reduces the gargantuan energy consumption required for proof-of-work mining. It also eliminates the requirements of holding tokens to influence the network required by proof of stake while still providing users with essentially the same features. In essence, it becomes a blockchain without the environmental effects. This also reduces the amount of storage required by users on the chain.

It is also worth noting that the Holochain approach to data integrity makes it possible for end-users to both utilize and verify the distributed network’s data. This directly contrasts traditional blockchains, which usually need a considerable amount of hardware expenditure to get participation.

This makes it a very rational option as a choice for any company looking to gain blockchain features without harming the environment.

 

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Top Launchpads Powering Web3’s Most Anticipated Token Sales

The crypto landscape continues to evolve with new developments, ranging from more sophisticated yield aggregators and tokenized securities to AI...

NewsBTC 5 days ago

$FUN Records 62.4% Price Rise in 24 Hours! Still Gaining on Binance

$FUN (FUNToken) records an exponential 62.4% rise in 24 hours amid new releases scheduled for later this year.  Highlights  FUNToken...

News BTC 1 week ago

FUNToken’s Current Rally Mirrors Past Bull Runs, Patience Could Pay Off Big

Crypto markets have once again entered a volatile phase, but one project is attracting focused attention: The FUN Token. Amid...

News BTC 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Celebrating a Milestone: UXLINK Marks First TGE Anniversary and Three Years of Innovation, One-on-One with Rolland Saf, CEO of UXLINK

News BTC 11 hours ago

Top 5 Crypto PR Agencies to Elevate Your Project in 2025

NewsBTC 12 hours ago

Interview with Mythical Games Head of Communications Nate Nesbitt

NewsBTC 4 days ago

Premium Sponsors

Press Releases

  • Hledáte nejlepší kryptoměny k nákupu v roce 2025

    Hledáte nejlepší kryptoměny k nákupu v roce 2025? Tady...

    3 hours ago
  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    3 hours ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    3 hours ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    7 hours ago
  • 仮想通貨プレセール終了間近|上場価格で購入できる最後の7日間がスタート

    ...

    8 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.