What is Powerledger?
Power Ledger (POWR) is a blockchain-based technology and software company that is focused on revolutionizing the renewable energy market. The company aims to develop software for its clients that allows consumers to track, trace, and trade energy in a transparent and efficient manner. By using blockchain technology, Power Ledger seeks to create a platform that puts the power of the renewable energy market in the hands of citizens and communities.
One of the core offerings of the Power Ledger ecosystem is its flexible trading system, which enables peer-to-peer (P2P) energy trading between consumers. With trustless reconciliation and settlement systems, consumers can receive payments in real-time, while benefiting from lower power bills and improved returns on their renewable energy investments. Through the Power Ledger platform, consumers can select a clean energy source and trade with their neighbors, resulting in a more sustainable and cost-effective energy future.
Power Ledger has developed a dual-token ecosystem, consisting of POWR and Sparkz tokens, for its two blockchain layers. While Sparkz is used to facilitate energy trading and is pegged to local fiat currencies, POWR is the primary token used to access and use the Power Ledger platform. With a maximum total supply of 1,000,000,000 POWR tokens, users can access the platform, earn loyalty rewards, and contribute to renewable energy charities and organizations.
The Power Ledger platform has a wide range of applications, including P2P trading, neo retailer, microgrid, wholesale market settlement, distributed market management, and more. The platform seeks to offer a transparent governance framework and can be scaled to suit as required. With its hybrid public and consortium blockchain approach, Power Ledger seeks to ensure the security and sustainability of its ecosystem. While POWR tokens work on the public Ethereum blockchain, the platform's private, industry-specific consortium blockchain is EcoChain, which is based on a proof-of-stake consensus mechanism.
Power Ledger was developed in 2016 by a team of members and advisors based out of Australia who are passionate about democratizing the global energy market. Dr. Jemma Green, the co-founder, and executive chairman of Power Ledger, was named the Australian EY Fintech Entrepreneur of the Year. With a presence in more than nine countries and over 20 projects, Power Ledger has memberships with reputable organizations in the energy and blockchain industries.
To encourage participation and usage of the platform, Power Ledger has created a maximum total supply of 1,000,000,000 POWR tokens. The platform offers discounting or gifting of POWR tokens to users with a customer base ready to join the Power Ledger ecosystem as utilities or application hosts. The gifted and discounted tokens are held in an escrow for a minimum of one to three years to ensure they are used in the platform. Additionally, the network proposes staking incentives for POWR, with rewards paid out every epoch. Power Ledger seeks to allocate POWR based on users' network involvement, with higher stakes resulting in greater benefits.
As of December 2021, Power Ledger released an update on its staking mechanism, offering two staking options: one based on an Ethereum contract and the other more decentralized. With its commitment to sustainability and its innovative approach to the renewable energy market, Power Ledger is poised to make a significant impact on the global energy landscape.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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