Mine’s a StellarDisclaimer: FRED Energy and Stellar do not promote the consumption of alcoholic beverages (just in case 🙂 Yes, it’s official FRED Energy (FRED) is a custom token on the Stellar network. It took us a while, three blockchains later and we can confidently say that Stellar will be our forever home (unless we build our own blockchain again, but then why would we?). The benefits of being a Stellar based token are many, here are just a few;
- Lightning fast transactions (1-2 sec)
- Ultra-low-cost transactions (fractions of a cent)
- Access to decentralised exchanges
- Ideally suited to utility tokens
- Regularly maintained by the Stellar Team and community
- Turin complete giving added security
- Stellar Smart Contracts (SCC)
- No Proof Of Work (POW) better for the planet
How did we get here?
A little history of FRED EnergyThe idea of The FRED Project and FRED Energy stems from my interest in alternative energy, technology and blockchain. For over 20 years, my career as a freelance consultant has followed the progression of technology, from the early network infrastructures to today’s systems analysis and design. Back in 2007, I was a follower of hydrogen as an alternative fuel source for vehicles and subsequently bought the domain thehydrogencell.com which originally showcased hydrogen fuel cells (now a redirect to our main blog). Over the last few years my interest in the capabilities and benefits of blockchain has grown and this is where my idea of Green Energy Projects on the Blockchain came from. The original plan to Fund Research into Energy Devices (FRED) where energy device innovators could access funding to enable them to realise their inventions and help get them to market.
FRED CoinOur original coin FRED was based on a fork of the TurtleCoin code, a rapidly growing community project. The original plan was to eventually switch to a token once we had gained a little credibility with what we aimed to achieve and a community that supported our ideas. So, after several months of code updates and mounting server costs, the time to change to a token and cease mining our coin FRED had come, the next step was what blockchain shall we use? We had several choices and narrowed it down to the Ethereum and Tron networks, finally settling on Ethereum mainly due to smart contracts, stability, readily available multi-platform wallets and a general greater acceptance by users and exchanges. Our old logo, a bit cheesy but we liked it Our new logo designed by a community member (Jazmi) as part of our logo competition
Token created, here we go!The private sale begins, and things are going slow when our new CTO (Shehzad) sells us the benefits of being a Stellar token. A little sceptical at first, the more we investigated Stellar and began testing it the more we loved it and found it was a better fit for our purpose as a utility token.
Token created, here we go again!So here we are, a token on the Stellar blockchain network. I hope you enjoyed reading our history and we hope our users will love the change to Stellar as much as we do.
Project growth and the futureOver the last twelve months we have grown steadily and will continue with our project regardless of funding as our core projects can continue with minimal funds. We have since added several other green energy projects to our portfolio, some of which are dependent on our fundraising outcome from token sales;
- EV Charging Stations (Funding dependent)
- Alternative Energy Marketplace
- Accelerating consumer energy generation
- Promoting the use of Electric Vehicles (EV)