Renewable Energy Token (RET) Is Now Available for Trading on LBank Exchange

Internet City, Dubai–(Newsfile Corp. – April 29, 2022) – LBank Exchange, a global digital asset trading platform, has listed Renewable Energy Token (RET) on April 28, 2022. For all users of LBank Exchange, the RET/USDT trading pair is now officially available for trading.

Figure 1: Renewable Energy Token (RET) Is Now Available for Trading on LBank Exchange

While the renewable energy industry is surging worldwide, the problem of data integration and distribution hinders the progress of its market. To address this issue, Renewable Energy Chain (REC) proposes a blockchain-based integrated data platform for the global energy landscape, with an ecosystem that includes smart electronic generator, infranet, reward system, NFT, and many more. Its native token Renewable Energy Token (RET) has been listed on LBank Exchange at 14:00 (UTC+8) on April 28, 2022, to further expand its global reach and help it achieve its vision.

Introducing Renewable Energy Chain

Renewable Energy Chain (REC) is a project that aims to discover the value of renewable energy through digital transformation. Starting with research and development of smart electronic generators in 2015, REC has achieved core success in the renewable energy industry. It will create an industrial efficiency and eco-friendly ecosystem through REC Infranet’s blockchain information to help the world’s troubled power plant environment, air pollution issues, consumers’ costs, and business owners operate more effectively.

The advantage of REC’s generator is that when operating renewable energy, it needs small power to be compared to the consumption of conventional renewable energy motors and generators. Through this, it will play a big role as a part of the next-generation eco-friendly energy industry.

There is also REC Infranet that collects various data related to the renewable energy industry from participants in the REC ecosystem participants. Its data store consists of private storage (off-chain) and public blockchain (on-chain) due to the large amount of data to be collected from REC plants, which reduces the ideal of complete storage on the blockchain. Accordingly, information on data ownership, user authentication, payment, and management of rewards and deposit pools is selectively stored in the blockchain, and the remaining data items are stored off-chain.

The ecosystem of REC includes both current participants and those who can contribute indirectly to the future. Smart electronic generator owners play an important role in accumulating information in the REC ecosystem. EPC provides warranty services for defects that occur after installing electronic generators, and O&M experts provide general operation and maintenance services. For both existing and potential REC investors, REC Infranet will provide more accurate and objective information for asset management. In addition, companies in DEFI, manufacturing, and insurance, as well as governance functions, can benefit from large-scale data…