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The Energy Web Token (EWT) is the operating token for the Energy Web Chain, a blockchain-based virtual machine that aims to assist and accelerate the development of energy-related applications.In June 2019, the Energy Web Chain was introduced. The initiative is managed by the Energy Web Foundation, a non-profit organization. By allowing developers to construct decentralized apps, EWT wants to diversify the energy sector (DApps). Grid operators, software developers, and suppliers, among other entities in the energy sector, might gain from the virtual machine.RMI and GSy wanted to offer a flexible blockchain solution for a wide range of applications in the energy sector when they created the Energy Web Chain. One of the most appealing features of EWT is that it allows businesses to construct totally customized decentralized apps. While other blockchains, like as Ethereum, offer this variety, Energy Web Chain was created specifically for the energy industry.