• Mikael Björn

Security Assessment of Energy Web General and Staking Pool Smart Contract

BTblock has partnered with Energy Web to provide ongoing Code Reviews and our Security Assessment for its General and Staking Pool Smart Contracts has just been completed prior to this month’s launch of Energy Web Token (EWT) Staking, the first step to moving their decentralized Service Level Assurance (dSLA) platform from the research phase to the production phase. dSLA is the decentralized quality assurance and delivery mechanism for Utility Layer services on the Energy Web tech stack. Staking will be a crucial component of dSLA, providing a decentralized curation and trust mechanism on the platform.

This launch of EWT staking is a significant event for the broader cryptocurrency economy as it is very likely the first token staking linked to real-world cash flow as Energy Web deploys digital operating systems for energy grids supporting a global community of more than 100 energy market participants. Energy Web digital operating systems make it simple, secure, and efficient for clean energy assets to support the power grid of the future.

Staking is essential to Energy Web’s decentralized service-level assurance (dSLA) platform. It

allows for decentralized, community-driven curation and quality control of Service

Providers and is a way for the Energy Web community to ensure its open-source solutions

are delivered flawlessly and to give enterprise customers the assurance and

convenience expected.

In contrast with other token staking rewards which are inflationary since they are paid in newly minted tokens, Energy Web dSLA staking rewards come from value created in the real world and dSLA rewards are distributed only to high-performing Providers and the Patrons who support them. As such, the end-users of the Energy Web platform can trust the quality of services they receive, without the need to trust an individual Service Provider.

By 2030, Energy Web estimates between 200 million to 1.2 billion decentralized identifiers

(DIDs) will use Utility Layer services delivered through the dSLA platform, inclusive of both devices and users. Energy Web Token ($EWT) is the fuel on which dSLA runs. As mentioned, $EWT will be the first and only blockchain token with real-world utility, tied to real-world cash flows, powering the clean energy grid necessary for sustainable growth globally.

During the Security Assessment for Security Assessment for its General and Staking Pool Smart Contracts, we discovered:

• 2 findings with a MEDIUM severity rating.

• 2 findings with a LOW severity rating.

• 2 findings with an INFORMATIONAL severity rating.

The full BTblock report can be found here:

Smart Contract review - The Energy Web - December 2021 v1.1
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