Everything To Know About Power Ledger (POWR)

What is Power Ledger (POWR)?

Powerledger is a cryptocurrency-based energy trading platform. The founder built it on the Ethereum blockchain and a consortium blockchain developed by Powerledger. It enables individuals and businesses to track and exchange energy, flexibility services, and environmental commodities.

Energy trade is democratised by using the Powerledger Coin (POWR), a native currency. Users can buy/sell energy tokens in a peer-to-peer (P2P) system based on their requirements or excess energy capacity.

Dr. Jemma Green is Powerledger’s co-founder and executive chairman.

The POWR token is the necessary fuel needed for the sustenance of the Power Ledger ecosystem. It is protected by what is called Smart Bond technology and required by the consumers and energy providers to access the services of the Power Ledger platform.

POWR tokens are converted into Sparkz tokens, which are redeemed through fiat currency in the energy trading markets or individual platforms, providing Sparkz and energy trading services.

Power Ledger was founded in May 2016, by Dr. Jemma Green (Chair), David Martin ( Managing Director) and John Bulich (Technical Director). The company is headquartered at Perth, Australia. On August 11, 2016, Power Ledger was publicly announced as a blockchain-based energy trading platform by Dr. Jemma and David Martin.

In August 2016, Power Ledger trialed in Australia as the first blockchain-based energy trading platform of the country. During the fourth quarter of 2016, Power Ledger stepped out its home country and began its first international deployment in New Zealand.

In July 2017, the company released its whitepaper, followed by the launch of its pre-sale between August 27– September 3, 2017 and public sale on October 6, 2017. The company managed to raise $24 million USD during its initial coin offering (ICO) with the backing by 15,000 supporters.

The company pre-mined a total sum of 1,000,000,000 POWR tokens, which were later distributed for various purposes. Refer the chart below for token distribution.

Primary features of Power Ledger

Powerledger utilises the peer-to-peer nature of the underlying blockchain to enable the frictionless transfer of energy tokens, environmental commodities trade, and renewable asset ownership.

Users may use Powerledger to purchase and sell surplus electric capacity generated by solar roof panels in real-time, and they will get the native POWR token for their efforts.

Three of Powerledger’s significant initiatives are VPP 2.0, a market for surplus battery capacity, xGrid energy from solar panels, and uGrid, a market for commercial building solar power spare capacity.

Powerledger facilitates the trade of environmental commodities, increasing the transparency and traceability of commodity and renewable energy credits exchanges.

Additionally, Powerledger has established a framework for renewable asset ownership in which families get rewards for acquiring renewable energy sources.

What are the benefits of Power Ledger?

The Power Ledger platform uses the blockchain to create a transparent governance framework which facilitates a smooth interaction between the energy market and its consumers. This paves the way for an ecosystem which is scalable and compatible with existing or upcoming regulatory environment. To meet the requirement of a dynamic and and flexible, Power Ledger has adopted the dual-token model and operates on two blockchain layers.

Ethereum Blockchain - Public Layer: The public layer lies where the interaction between the Power Ledger ecosystem and third party exchanges takes place. Since the third party exchanges are beyond the control of Power Ledger ecosystem, this layer provides the necessary security and decentralization native to an ERC20 token.

Power Ledger Core: The Power Ledger core is made up of smart contracts layer and provides all necessary core functionalities to the Power Ledger ecosystem. These core components include The Oracles, Renewable Energy Assets Germination, POWR token growth pool escrow services, POWR/Sparkz exchanger, Smart Bond, etc.

Ecochain Services - Consortium Blockchain: Ecochain is an industry oriented blockchain developed by the Power Ledger in September 2016. This blockchain works on Proof-of-Stake and specifically designed to use in energy industry. Currently, both Ethereum consortium and Ecochain blockchain operate together in the Ecochain Services - Consortium Blockchain layer. This layer provides additional functions to the Power Ledger ecosystem such as creation and management of Sparkz token, asset management meter reading and others.

The Power Ledger Applications Layers – FuseBox: FuseBox is the application layer of the Power Ledger ecosystem. The ecosystem’s design allows a seamless adaption of Power Ledger platform for the diverse energy markets.

What is the future of Power Ledger?

As of July 2018, Power Ledger cryptocurrency stands on 87th place on the global cryptocurrency market with a market capitalization of over $101 million. Currently, 373,730,395 POWR tokens are in circulation.

On November 01, 2017, POWR launched for trading in the global cryptocurrency market at a initial price of $0.056271. POWR touched its highest price point of $1.92 on January 7, 2018. As of July 2018, POWR floats around the price of $0.271.