Swytch (SET)

What is Swytch

Swytch is a blockchain-based application that aims to verify and reward the production of renewable energy through the issuance of an ERC20-compliant utility token - SET. Swytch tokens can be produced anywhere electricity can be produced and expended from both small residential and large-scale industrial power infrastructures. Moreover, Swytch token generated, traded, and transferred will accelerate investments and adoption of renewable and sustainable technologies by rewarding production and providing a platform through which those rewards can be monetized and re-invested. Energy production is authenticated using Swytch's Production protocol which solves the problems inherent with PoW and PoS.

Swytch ecosystem is built on four main elements. The first is the Swytch mobile application which acts as a token wallet, allows users to determine their power generation and revenue potential and applies for an advance to purchase and set up their own modular/expandable solar unit. The second piece of the Swytch platform is nodes enabling integration with IoT devices to capture energy production data from the equipment. Third element of the Swytch ecosystem, is the Oracle - an open-source algorithm that calculates Swytch token allocations based on the impact that a given unit of energy has on offsetting carbon pollution and emission. Finally, verified installers will confirm system design and receive rewards for accuracy.