HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Tuesday that the Virtual Power Exchange (VPE) has selected Hedera as their DLT of choice. VPE is the first digital energy exchange platform for real-time matching and settlement of generation and consumption transactions between retail users.
The HBAR Foundation added that the VPE would leverage the Hedera Token Service (HTS) and Hedera Consensus Service (HCS) to provide a trust layer for the onramp and selling of carbon credit/renewable energy credit services, a marketplace for the sale of carbon credits, and developer tools such as SDK, API, and additional services for the tracking of carbon emission.
Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0860 at press time, up by 1% over the last 24 hours.