What is Power Ledger ?
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.
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.
Is Power Ledger a promising cryptocurrency?
Powerledger’s future is bright since it serves a well-defined industry that justifies its applications. Currently, there is no better solution in energy distribution and the peer-to-peer energy industry than the POWR blockchain and its smart contract. So, many analysts expect Powerledger to have a prosperous future. That makes Powerledger Coin a promising cryptocurrency.
How to use Power Ledger?
- Buy and sell energy tokens: The platform enables users to buy/sell energy tokens peer-to-peer depending on their energy demands or spare capacity.
- Trade: Powerledger Coins can be held for trading purposes.
- Exchange different cryptocurrencies and fiat currencies: Users may swap Powerledger Coins for various cryptocurrencies and fiat currencies via a variety of cryptocurrency exchanges such as CoinSwitch Kuber.
Pros & Cons of Power Ledger
- Powerledger enables the increasing market of residential energy suppliers by providing them control over the use of their surplus energy.
- Because it acts as a mediator between the user and the electric provider (or the state), the legal and administrative aspects of the transaction are handled automatically, allowing consumers to purchase and sell energy with relative ease.
Since energy is a closely regulated sector, powerledger may not be legal or acceptable in most regions.
Trade Power Ledger on CoinSwitch kuber
- Start trading with just Rs.100
- Easy to use platform
- Invest and redeem your investments instantly
- Get your investments credited to your bank account without any fuss
Power Ledger ICO summary
Powerledger raised around US$26 million in one of Australia’s first successful initial coin offerings in 2017, within a year of its foundation.
FAQ's on Power Ledger
Is Powerledger a good investment option?
The Powerledger’s success is contingent upon the company’s democratic, cheap, and efficient energy programme. It appears to be prospering, with 23 different initiatives spread over eight nations. These updates and the price prediction algorithms appear to indicate that Powerledger is a sound long-term investment. Currently, the Powerledger coin price is $0.3017.
How do I buy a Powerledger coin?
You may purchase a Powerledger coin via a cryptocurrency exchange such as CoinSwitch Kuber.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.