IOEN projects come amid the current tough talk about blockchain and cryptocurrencies due to their high power consumption, especially for those using the Proof-of-Work (PoW) consensus mechanism. PoW requires a lot of machine power to solve arithmetic problems to validate transactions, as well as to introduce new coins into the network. Several companies have invested in the project, including SL2 Capital, AU21 Capital, Insignius Capital and Skyman Ventures (Mashable).