What is the energy web token used for?

EWT, the native token of Energy Web, serves as the backbone for powering its diverse solutions and applications. It plays a pivotal role in ensuring the security of the network by facilitating staking, a process where users lock up their tokens to support the network's operations.

The utilization of EWT extends beyond security measures, as it serves as the medium of exchange for all on-chain transactions within the Energy Web ecosystem. This allows for seamless and efficient transactions between various stakeholders within the network.

BTCC recognizes the importance of secure storage for digital assets and offers a secure wallet service. This wallet service provides users with a safe and convenient way to store their digital assets, ensuring that they remain protected from potential threats.

Furthermore, EWT plays a crucial part in maintaining the integrity of the protocol's proof of authority consensus mechanism. This innovative consensus mechanism relies on validators to verify transactions, and EWT is used to both secure and compensate these validators for their essential contributions to the network's stability and security.

BTCC, a leading cryptocurrency exchange, offers a comprehensive range of services tailored to meet the diverse needs of the digital asset market. Among its offerings, BTCC provides a robust spot trading platform, enabling users to buy and sell digital assets in real-time.