THE CANDELA NETWORK DIFFERENCE

Introduction

Businesses and organizations are seeking ways to integrate blockchain technology in their operations and processes to improve their services. Financial institutions, health centers, the military, the entertainment industry, and many others are already incorporating blockchain technology. In the energy sector, there have been several innovations built on a blockchain network that seeks to improve the processes and services of the industry. These networks seek to offer solutions to the issue of availability of energy and the monopoly of industries and companies responsible for the generation of electricity. Candela is a new network in the energy industry, with a focus on solar power, which seeks to decentralize power and make energy easily accessible to everyone in all local communities.

The blockchain networks, prior to the introduction of Candela, focused more on trying to bridge the gap between producers and the consumers of energy, the multiple token systems, lack of liquidity, and creating a platform for big companies and organizations to adopt the technology. However, the majority of these do not resolve the issues plaguing the energy sector. The Candela network identified certain issues that the management team believes they can offer solutions. These issues include:

Centralized System

The energy sector is primarily based on a centralized system, whereby conventional power stations, using fossil fuels and natural gas, predominately occupy the generation of electricity. The maintenance of these power stations comes at a high price and this usually translates to the high tariff price paid by the consumers. With a centralized power system, meeting the energy demand of consumers may not be feasible. The electricity demand is rising and it will only cost more if we retain such centralized systems.

Monopolistic Operations

There is often difficulty in accessing electricity when the generation and distribution go through a single power company. Consumers have to deal with and manage the poor services provided by these power companies, as there may be no alternative. Whenever there is an internal crisis in managing these companies, production and distribution may be on hold, and this affects the consumers. Government policies can also be a barrier to these companies.

Use then Pay

The process adopted by most power companies is that consumers will not receive energy is they do not pay for their monthly service. Customers are charged for what they consume for a particular month before getting power supply for the next month.

Non-environmental-friendly

The main conventional processes for the generation of power involves mining, refining, and burning of fuel. These stages of production produce wastes that are harmful to the environment. The cost of transporting electricity from generation plants to distributing companies, and then consumers, is also high.

Candela Network Solution

This network plans to use the blockchain network to build a solar energy system that offers clean and renewable energy to communities. The solutions of the network include:

Decentralized System

Candela network seeks to eliminate the monopoly of producing electricity available to the power companies. As the use of solar energy for electricity generation increases, Candela will create a platform that encourages consumers to become producers to their power and reduce the dependency of consumers on large power companies.

Pay and Use

Candela allows consumers to use the energy they buy. This empowers users to pay for the electricity they have a need for and reduces waste on energy resources. With the use of the network’s crypto coin, CLA token, consumers can buy and sell power on Candela’s platform.

Advanced Infrastructure

The network is providing consumers with advanced IoT hardware that enables them to receive and store energy. Candela also offers a system in which consumers can share their excess generated solar energy and earn money from its sale to members of the community.

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