EV Battery Tech and IONiX Pro Announce Collaboration on Disruptive Crypto Mining Protocol
- The Patent-Pending “Proof of Renewable” Protocol May Be a Game-Changer in Crypto Mining
Extreme Vehicle Battery Technologies Corp. together with its subsidiary IONiX Pro Battery Technologies Inc., are pleased to announce that through their membership with the Renewable Energy Alliance, they have been selected to develop the hardware required for the Renewable Obligation Base energy economy Protocol .
The Renewable Energy Alliance (“REA”)
As previously announced in the Company’s news release dated October 5th 2021, the REA is a global organization committed to innovating and executing sustainable incentive programs that encourage companies, governments and individuals to generate and use renewable energy. The Company’s membership in the REA has opened the door to collaborations with several organizations to develop new disruptive technologies, including the opportunity to develop hardware for the game-changing and carbon-negative crypto mining ROBe2 Protocol.
“It is a pleasure working with EV Battery Tech and IONiX Pro,” commented Dr. Tom Davis, Chief Renewable Officer of the REA. “This collaboration is a big step towards addressing some of the biggest crises facing our world today. I knew from the beginning that the induction of EV Battery Tech into the REA would be fruitful, I just had no idea it would happen so quickly!”
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Renewable Obligation Base energy economy (ROBe2) Protocol
The ROBe2 Protocol, commonly pronounced “Rob-ee”, is a new crypto protocol that has been developed to provide a solution to two important world issues: Climate Change and Economic Oppression. The ROBe2 Protocol is based on blockchain smart contracts that create an obligation to generate renewable energy (hence the name), each time the underlying token is transacted. Protocols provide essential rules that define how data is to be transferred automatically across cryptocurrency networks securely and reliably. The ROBe2 Protocol contributes 3% of each transaction towards a mining pool, which is used to incentivize the production and consumption of renewable energy. The mining pool distribution is administered and managed independently through the REA.
A key part of the ROBe2 Protocol is the environmentally conscientious way in which it is mined. Unlike the current leading cryptocurrencies, which use a mining protocol known as Proof of Work that is very energy intensive, the ROBe2 Protocol is mined using a novel carbon negative mining process called “Proof of Renewable”.
“I have always believed that the future of energy generation and consumption would evolve to embrace blockchain and cryptocurrency technology,” stated EV Battery Tech CEO, Bryson Goodwin.
“However, in my opinion, the vast majority of cryptocurrencies provide little to no benefits outside of their basic functions as decentralized tokens. Such tokens are mined using protocols that require tremendous amounts of energy, which has negative environmental implications. Furthermore, the vast majority of ‘culture’ or ‘meme’ tokens have ridiculous tokenomic structures. This has made it clear that, as a Company, we had to look to align ourselves with a novel and unique protocol that is forward-looking and maintains the same sustainability standards that we have at EV Battery Tech and IONiX Pro,” continued Mr. Goodwin.
Proof of Renewable
The team behind the ROBe2 Protocol has developed and filed a patent for a revolutionary technological advancement in cryptocurrency, the Proof of Renewable mining protocol. The main concept of the PoR Protocol can be boiled down into two main points: 1) verification of renewable energy, and 2) incentivization of renewable energy.
Part 1: The verification of renewable energy is made possible via a provisional, patent pending, technology that reports the energy produced, verifies its renewable source and its consumption coupled with the discharged energy.
Part 2: The PoR Protocol provides the incentive to generate and consume renewable energy by rewarding the miner with tokens from the renewable mining pool. The PoR Protocol is a blockchain based cryptocurrency mining system that will mine the ROBe2 Protocol, have a carbon negative impact on the environment and act as a global renewable energy incentivization system.
“We need to think differently about how energy is produced and how the energy producers are incentivized to reduce their impact. The PoR Protocol utilizes a novel, patent pending, approach to mining that provides support to the global energy system’s sustainability over time,” commented Dr. Adel El-Messiry, co-author of the PoR Protocol academic paper.
“The PoR Protocol is one of the most advanced technologies I have ever worked on. Solving the global energy crisis requires local implementation of a global solution that can track, verify, and incentivize renewable energy production at the base level. Not only does the PoR Protocol promote renewable energy generation, but its mining process is carbon negative. The PoR Protocol is a culmination of years of academic research into multi-disciplinary fields, from energy production to blockchain and behavioural economics,” continued Dr. El-Messiry.
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Collaboration with EV Battery Tech and IONiX Pro
The ROBe2 Protocol and its patent pending PoR Protocol require an advanced Battery Management System (BMS) to verify that renewable energy has been produced. The IONiX Pro product suite utilizes EV Battery Tech’s patented BMS technology, which is one of the most advanced battery technologies on the market. The BMS technology revolutionizes battery communication, providing real time data to AI driven data centers. This technology is perfectly suited to become the backbone of the Proof of Renewable mining protocol. IONiX Pro has commenced collaboration with the ROBe2 Protocol to develop the first PoR Protocol compatible hardware to enable ROBe2 Protocol mining.
“The ROBe2 Protocol’s 3% renewable obligation and PoR mining protocol are a match made in heaven for IONiX Pro’s ESS products and services,” stated IONiX Pro Chief Innovation Officer, Rob Abenante.
“Everyone from Bill Gates to Elon Musk is talking about how bad the current crypto currency mining protocols are for the environment. While blockchain and crypto currencies have huge potential, the negative environmental impact precluded us from fully adopting any of the leading tokens into our product suite….. until now,” concluded Mr. Abenante.
The REA, the ROBe2 Protocol and EV Battery Tech/IONiX Pro have commenced this ground-breaking global collaboration to address some of the world’s largest issues, while revolutionizing crypto mining. EV Battery Tech has positioned itself and its IONiX Pro products and services with the environment in mind. IONiX Pro has developed eco-friendly products that are designed to outperform and outlast those currently on the market. The Company and IONiX Pro were selected to take part in this initiative at an early stage as the verification process requires an advanced BMS with the ability to communicate data both to and from the battery itself. Both the Company and IONiX Pro are committed to utilizing its BMS and energy storage systems (ESS) to commence the development of the hardware that will mine the ROBe2 Protocol.
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