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AREC Overview

AREC, Arkreen Renewable Energy Certificate, is the REC issued on the basis of the renewable energy generation proof sourcing from the Arkreen Network. With the help of high efficiency and amazing composability of the Web3 technology, AREC targets to be the fundamental financial instrument to gear up the global carbon emission reduction progress.

The following diagram shows how the renewable energy generation proofs are collected from Arkreen miners, and provided as the verifiable fact to issue the AREC, an NFT in crypto world. AREC NFT, as a digitalized crypto asset, can be redeemed to offset carbon emission, and also can be liquidized to ART, an ERC20-compliant token with high liquidity. ART, the AREC in the form of ERC20, can be exchange into many other crypto assets held as personal wealth, and also can be offset to neutralize carbon footprint.

🛠 Miners​

Miners are the renewable energy (RE) generation data collectors and provers. Connected to the meters of the RE generators (mainly solar panels in current phase), miners consecutively sign and send the RE generation data to the Arkreen Network. As an incentive, AKRE tokens are rewarded to the miner's owner based on the amount of the RE output.

🧑‍🤝‍🧑 Arkreen Network​

Arkreen Network, the center of the Arkreen RE ecosystem, keeps running as a cloud service to continuously collect RE data from miners, and distributes AKRE tokens to the miner's owner as the mining reward. RE data are verified and stored into IPFS storage, and can be consumed anytime to issue the AREC at the requirement or approval of the RE data owners. Arkreen Network also provides friendly user interface for the community members to get involved in Arkreen activities and manager their assets in Arkreen ecosystem.

📊 AREC DApp​

AREC DApp is the one-stop decentralized app around AREC related assets and services. It relies on multiple smart contracts deployed on the blockchain, and provides the access UI to the various AREC services including: issuing AREC, redeeming AREC, liquidizing AREC to ART, offsetting ART, solidifying ART to AREC, buying ART and minting Arkreen badge. All these services keep being extended, improved and optimized to meet the expectation from Arkreen community.