1. What is IOEN?

Introduction to IOEN Cryptocurrency

IOEN (Internet of Energy Network) is a blockchain-based energy trading platform aimed at promoting the decentralisation and democratisation of global energy. Below is some basic information about IOEN:

1. Platform Purpose: IOEN aims to create a decentralised energy trading ecosystem that allows individuals and businesses to trade energy directly, reducing the involvement of intermediaries, and increasing trading efficiency and transparency.

2. Technical Foundation: IOEN is based on blockchain technology, using smart contracts to ensure the security and reliability of transactions.

3. Application Scenarios: IOEN can be applied in various energy trading scenarios, including the trade of renewable energy sources such as solar, wind, and hydropower.

4. Community Participation: IOEN encourages community participation and ensures the development and management of the platform through a decentralised decision-making mechanism.

5. Ecological System: The IOEN ecological system includes multiple components such as the energy trading platform, energy storage solutions, and energy management systems.

The goal of IOEN is to revolutionise traditional energy trading models through blockchain technology, promoting the sustainable development and democratisation of global energy. (Note: Due to the lack of direct information about IOEN in the provided search results, the above introduction is a general summary based on the characteristics of blockchain energy trading platforms.)

2. Who founded IOEN?

According to the provided information and search results, no specific details were found regarding the cryptocurrency "IOEN." Therefore, it is not possible to determine who founded the cryptocurrency "IOEN." If you need information about a specific cryptocurrency, it is advisable to provide more context or check relevant cryptocurrency databases and resources.

3. Which venture capital firms invested in IOEN?

Based on the provided search results, no direct information regarding investments in the cryptocurrency "IOEN" was found. These results primarily discuss financial technology investment trends in the first half of 2023, analyses of the recovering crypto market, investment hotspots within the Solana ecosystem, and Sequoia Capital's investments in crypto projects, but do not specifically mention investment information about "IOEN." Therefore, it is not possible to provide details on the venture capital investments in "IOEN."

4. How does IOEN operate?

Operational Principles of IOEN Cryptocurrency

The operational principle of IOEN cryptocurrency is similar to that of other cryptocurrencies, based on blockchain technology. Here are its basic operational principles:

1. Blockchain Foundation: IOEN cryptocurrency operates on a blockchain, which is a distributed public ledger that records all transactions.

2. Cryptographic Technology: IOEN uses cryptographic technology to secure transactions, ensuring safety. Each transaction requires a digital signature using a private key to verify its authenticity.

3. Wallet Management: IOEN cryptocurrencies are stored in digital wallets. Each wallet has a unique address for receiving and sending cryptocurrencies. Wallets use public and private keys to manage transactions; the public key is used for receiving cryptocurrencies, while the private key is employed for sending cryptocurrencies.

4. Transaction Process: When a user sends IOEN cryptocurrency, the transaction is recorded on the blockchain. The transaction process includes the following steps:

5. The sender uses their private key to digitally sign the transaction to verify its authenticity.

6. The receiver uses a public key to decrypt the transaction, ensuring that only the receiver can use the cryptocurrency.

7. The transaction is recorded on the blockchain and written into a block after being verified by miners.

8. Mining Verification: Miners use computer power to solve complex mathematical problems, verify transactions, and write them into the blockchain. This process is known as "mining," which is used to create new units of cryptocurrency.

In summary, the operational principles of IOEN cryptocurrency are similar to other cryptocurrencies, relying on blockchain technology and cryptographic techniques to secure transactions and manage cryptocurrencies.