What does energy web token do?

Moreover, EWT plays a pivotal role in the protocol's proof of authority consensus mechanism. This innovative approach to consensus not only ensures the network's security but also incentivizes validators to operate the network honestly and efficiently.

Validators, who are responsible for verifying transactions and maintaining the network's integrity, are compensated with EWT for their efforts. This compensation serves as a motivation for validators to maintain high standards of performance and contribute to the overall health of the Energy Web network.

EWT, the native token of Energy Web, serves as the cornerstone for powering the platform's innovative solutions and applications. Its primary function is to enhance the security of the network by enabling staking, a process where users lock their tokens to contribute to the network's overall security.

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In addition to its role in security, EWT is essential for facilitating all on-chain transactions within the Energy Web ecosystem. It acts as the medium of exchange, ensuring seamless and efficient transactions among participants.