This white paper is a breathing document, and subject to change primarily in effort to ensure creative developer freedom. We invite the community to help us improve this document, and the rest of this endeavor, in the forums. Speaking of community… the Charg team acknowledges you, the reader, and factually speaking we will only thrive with your help and active participation. Please take the time right now to share this project anywhere you can. A few ideas: a post on your Facebook page, YouTube, or other social media. You can also help by TALKING ABOUT US everywhere you go! Lastly, please install your own Charg Station and download the Charg Coin App as a small but effective means to support our cause.
Charg – The Charg platform is composed of the Charg Coin App for mobile users, the Charg Coin Wallet, the Charg Coin node for Charg Stations, and a compilation of Ethereum/Hyperledger smart contracts which connect all of of these elements together into one entity. The terms Charg and Charg Coin are somewhat interchangeable, similar to how Ethereum or bitcoin is the same word for their platform and the denomination of the currency utilized by that platform.
Charg Coin Network– A private collection of EV (electric vehicle) charging stations, or Charg Stations (see below), which is only accessible to users of the Charg Coin App. In addition to the private network of Charg Stations, the Charg Coin App displays over 100,000 public charging stations on an easy to use map.
Charg Coin– The Charg platform is driven by Charg Coin. Charg Coin is the vehicle of transaction for the Charg Coin network. It is a store of value, and it can be traded on the exchanges for other cryptocurrencies. As such, the Charg Coin is ultimately transferable to fiat currency and can therefore also be classified as a form of currency. The Charg Coin is the token required to make the Charg smart contracts go. Without the Charg Coin, nobody would be able to transact or access EV charging stations on the Charg Coin network.
Charg Station– A Charg Station is a place where electric vehicles can recharge their cars in exchange for the Charg Coin. Transactions for these EV charging stations occur automatically between users of the Charg Coin App and the Charg Station, as facilitated by the Charg Coin Wallet and smart contract technology.
Charg Coin Wallet– Similar to other crytocurrency wallets, the Charg Coin Wallet permits the storage and transaction of Charg Coins within Ethereum\Hyperledger smart contracts. It’s like a personal bank and a wallet all rolled into one piece of software. The Charg Coin wallet is unique in that it permits transactions to occur between electric vehicle drivers and Charg Stations.
Charg Station Node– The Charg Station node is a computer which enables Charg Stations to come online. Any computer which is always online can be turned into a node, but for simplicity Charg Coin recommends the Onion Omega2+ pre-loaded with our proprietary software, available in our store for only $18.00. The Charg Station Node facilitates communication and transactions between electric vehicle drivers and Charg Stations utilizing Ethereum/Hyperledger smart contract technology. It turns a smart switch on automatically when electric vehicle drivers send their Charg Coin to a Charg Station.
Smart Switch/Plug– Smart switches and a smart plugs are wifi-enabled electrical switches and electrical outlets. A smart switch is just like a standard light switch except that it can be controlled over wifi. A smart plug is just like a regular wall outlet except that it can be controlled by wifi. In the case of Charg Stations, the smart switch/plug is used to turn electricity on and off automatically without the need for human intervention whenever the Charg Station Node receives funds from an electric vehicle driver who wants to recharge.
Charg Coin App– A mobile app intended primarily for electric vehicle drivers. In addition to locating the already-existing public network of over 100,000 charging stations worldwide, the Charg Coin App helps electric vehicle drivers locate a private network of Charg Stations accessible only to users of Charg Coin and the Charg Coin App. All stations are viewed on a beautifully laid-out map within the Charg Coin App.
Distribution Escrow– The vast majority of Charg Coins will spend the whole of their existence removed from circulation and stored in the Distribution Escrow. The Distribution Escrow has a very important job. It sells Charg Coin to the general public automatically, but at a price which is always at a premium above the fair market value of Charg Coin (as defined by the average value of the exchanges). Later in the development of Charg and after we have achieved market adoption, the Distribution Escrow will make a transition. Resulting from this transition, the Distribution Escrow will begin binding its “for sale” price at a premium above the average price charged by Charg Station owners INSTEAD OF the fair market value of the coin as defined by the exchanges. This is an important future feature of Charg Coin, and may in fact end up being what makes Charg Coin able to achieve true storage of value and utility in perfect harmony. In other words, we are binding the price of energy to the price of a coin which is made continually scarce by the Distribution Escrow. This is a VERY powerful idea made possible by the Distribution Escrow which should grab the attention of the reader.
Charg isn’t a company. Charg is the tangible result of a smart document which rides on the Ethereum Blockchain. This smart document lays out a simple but strong foundation for a global energy-sharing program to thrive and grow. Charg Coin LLC is the steward of the coin as it transitions from centralized to decentralized on the world market. Utilizing the Ethereum platform and brought up to lightning speed by Hyperledger, Charg seeks to turn itself into the Uber or Airbnb of electric vehicle charging, sans centralized corporation.
Hyperledger is a smart contract technology similar to Ethereum but differing in that it allows for instant transactions at minimal cost. Ethereum provides a secure means to transact, but is also somewhat slow and carries high fees. Hyperledger (http://hyperledger.org/) is utilized by the Charg platform in addition to Ethereum in order to permit rapid transactions with minimal fees. Charg rides on the Ethereum blockchain where practical, but when it comes to speed and low cost Hyperledger makes everything amazing. We call it a hybrid because both Ethereum and Hyperledger are used in tandem with security, speed, and cost perfectly optimized.
Special discounts will apply for the ICO to bolster rapid growth of the coin. Early birds get up to a 60% early contribution bonus which will quickly recede in size as the sale progresses. Bulk contributors are entitled to automatic volume discounts in addition to the early bird special. See the Ethereum Contract address located at https://etherscan.io/address/0xc4a86561cb0b7ea1214904f26e6d50fd357c7986#readContract for more details.