VLUX (VLUX) – ICO rating and details

VLUX is launching an Initial Token Offering (ITO) in order to create VLUX tokens that will enable energy to be traded on the renewable energy trading platform that it has developed. By combining deep learning AI technology with blockchain, VLUX’s peer-to-peer (p2p) energy trading platform aims to improve access to affordable, low carbon energy.

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About VLUX

VLUX by Verv – Live energy trading protocol

At Verv, we believe it’s time to challenge the status quo and bring energy into the digital economy.

By combining our deep learning Artificial Intelligence with disruptive blockchain technology, we have developed a Peer-to-Peer (P2P) energy trading platform that aims to put power back into the hands of the consumer, all the while improving access to affordable, green energy.

How?

Our AI-based smart hub, Verv, which can obtain a comprehensive and real-time overview of the electricity consumption of a home, forms the basis of our p2p framework.The specialised AI used in our Verv smart hub provides us with the opportunity to add a unique layer of intelligence to the trading process. With an ability to predict the supply and demand of energy of a home, our intention is to ensure trading is done at optimal times in advance, reducing costs and prioritising green energy consumption.

With two government-backed P2P projects now underway, and having just executed the first peer-to-peer trade of energy on the blockchain in the UK, we are looking forward to the next step on our journey to digitising energy; creating a VLUX Token.

What is a VLUX token?

VLUX (VLX) is a utility token which is being created in order to enable token holders to access our blockchain-based energy trading network and benefit from low cost, low carbon energy. Tokens are exchanged within the network for KWh energy which is then directed to the user for their consumption needs.

We’re using blockchain technology with the aim of providing an inherently secure platform which uses a decentralised distributed ledger to keep continuously updated digital records of who owns what. Importantly, with the platform distributed across multiple nodes, having a trading system built on the blockchain aims to ensure its recorded value can be maintained, even in the event of a natural disaster for example.

Seamless Cross-Border Capabilities

By creating a VLUX token, our aim is to ensure that a scalable network is in place as we continue to expand and roll out globally. With cross border capabilities, token users should be able to benefit from seamless functionality.

Furthermore, as we look to empower the 1.1 billion people globally without access to electricity, the global interoperability of the platform will be crucial.

Our Token Sale

Our goal is to distribute VLUX tokens as far and wide as possible, enabling everyone — regardless of the potential size of their contribution — to participate in the benefits of a decentralised energy grid based on our advanced trading platform. By creating these tokens, we are confident we are moving one step closer to the reality of reduced energy costs and better access to clean energy for the masses.

VLUX by Verv – Live energy trading protocol

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