After four years of quiet development, the creators of Charg Coin (CHG) on Friday stealth-launched a multi-chain mainnet across Ethereum, BSC, POLY, FSN, and their own Proof of Authority (PoA) network called Charg. The release is expected by the team to crescendo from humble beginnings into really big news in the crypto and electric vehicle worlds.
Also Read:-Meritor and PACCAR Extend Electrification Agreement
“We’ve had to keep quiet about most of our development because of who our competitors are in this space,” said Josef, the founder of CHG, “Big oil, big banks, and big tech are all niches which by their nature create a barrier to entry for the little guy. We overtake this limitation by catching everyone by surprise with software that is designed to scale infrastructure as accelerated by real-world energy consumption. Even marketing is now baked into the cake thanks to our use of SAAS, permitting our platform to tap into the $65 Trillion energy sector anywhere and everywhere you can imagine and scale.”
Focusing on “energy is money” which also happens to be the coin’s slogan on their website https://chgcoin.org, CHG has always been about energy meets the blockchain. This new release, however, is much more potent a culmination of concepts, designs, and rubber-meets-the-road utility than the first Minimum Viable Product (MVP) which the team had managed to produce four years prior using only a shoestring budget.
And speaking of rubber-meets-the-road, Charg (CHG) had chosen an interesting slant on the traditional model of mining-using-energy which Bitcoin pioneered. Launched in 2017, WeCharg (https://www.wecharg.com) was created as a spin-off of the CHG architecture which permits electric vehicle charging to be powered, off-grid, by the ledger. Instead of energy going to waste when Bitcoin is produced, energy goes to use when CHG is unleashed.
As mentioned prior, CHG is simultaneously launching their second installment across several networks. This permits the coin to live in each of these networks independently, but it is also unique in that CHG has developed the software necessary to bridge both functionality and fungibility between these networks.
The proprietary bridge developed by the creators of CHG means that CHG can be transferred between networks. It also means that other coins can live on the CHG network in the form of wrapped coins. And it means that functionality on one network can now be broadcast to other networks.
“That’s big news for exchanges as well which traditionally live on only one network at a time,” said Josef, “The PoA mainnet which CHG had chosen for ourselves is designed to be fast, consume very little resources, and have low fees. But if you’re not happy with CHG’s mainnet, the interoperability and inter-fungibility of the CHG bridge means you can pick and choose what network you want to spend and trade your CHG and other crypto-assets.”