What is Power Ledger (POWR)?
Power Ledger is an energy trading platform that allows buyers and sellers to trade energy directly with each other and without having to contact an energy company.
The company was founded in May 2016 in response to the global revolution in the field of energy technologies. In Australia and around the world, the proliferation of solar power systems, batteries, microgrids and other distributed energy resources is changing the way electricity is produced and accessed. The development of this new technology has led to a shift in the electric power industry, when power is no longer monopolized by the central authorities, but is increasingly in the hands of consumers. To complete this shift and drive the solar revolution into the mainstream, Power Ledger offers a reliable trading platform where consumers can sell energy to their peers.
Who created Power Ledger (POWR)?
Founded in May 2016, the Australian Power Ledger company is created and managed by Dr. Gemm Green, who has more than 15 years of experience in financial and risk consulting, and a research fellow at the Curtin University Institute for Sustainable Development Policy (CUSP).
David Martin, the company`s managing director, has almost 20 years of experience in the electric power industry, and well-known Bill Tai venture capitalisr is listed as a global representative and adviser to Power Ledger.
What is the uniqueness of the Power Ledger (POWR)?
The goal of Power Ledger is to rethink the current electricity supply network as a decentralized and unreliable trading platform. To do this, the platform operates with two different block chains: the "outer layer" is the Ethereum block chain, and the "inner layer" is EcoChain.
- The Ethereum blockchain.
The Ethereum public blockchain, where users can buy, sell, use and exchange POWR tokens. By holding POWR tokens, users can access EcoChain.
A private consortium blockchain developed, created and managed by Power Ledger. It applies Sparkz tokens and is designed for direct interaction with home and business energy supply facilities, for example, automatically reading meter readings at regular intervals and tracking energy consumption.
The Ethereum blockchain layer is the same all over the world, while the EcoChain layer can be scaled for individual areas to work with different local regulations, meet different consumer needs and work anywhere. The connections and functions between these layers are managed by Ethereum smart contracts.
Sparkz tokens can be purchased for the local fiat currency, and then used to buy energy through the EcoChain blockchain at a price that varies depending on supply and demand in each area. In these transactions, Sparkz tokens are destroyed.
This allows consumers to:
- Monetize the excess energy produced by their home power systems.
- Get access to cheaper energy by buying it directly from neighbors, and not from a large energy company.
How many Power Ledger Tokens (POWR) are in circulation?
If there is no maximum POWR offer, there is currently - 457,485,997 of POWR tokens in circulation.
At the moment, the cost of POWR is - 0.290973 USD, the daily trading volume is 17,377,058 USD, and the market capitalization is 133,116,073 USD.
How is the Power Ledger network protected?
POWR, being an Ethereum ERC20 token, is protected by the Proof of Work (PoW) consensus algorithm.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.