What is Power Ledger (POWR)?
Future of POWR Cryptocurrency and know how to buy POWR

#1 - What is Power Ledger (POWR)?

Power Ledger (POWR): The basics

  1. Power Ledger is a decentralized energy trading platform, which is based on Ethereum blockchain. The platform aims to provide a non-restricted global access to the renewable energy for the consumers.
  2. Power Ledger is a dual-token platform; so there are two tokens used in Power Ledger ecosystem — the POWR token and the Sparkz token.
  3. 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.
  4. 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 development

  1. 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.
  2. 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.
  3. 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.
  4. 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.

 

#2 - What are the benefits of Power Ledger?

Power Ledger technology

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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.

 

 

#3 - How to buy & store POWR token?

How to buy POWR token?

All POWR tokens were premined at its inception, so the platform does not allow POWR mining. However potential buyers can still obtain POWR from various cryptocurrency trading platforms.

  1. POWR token is available to trade on many global cryptocurrency exchanges such as Binance, Bithumb, Bittrex, Gate.io, Kucoin, Upbit, TDAX, Huobi, etc.
  2. Most cryptocurrency exchanges have paired POWR either with BTC or ETH.
  3. Sinc the Power Ledger cryptocurrency is available on so many markets, it can be a time consuming process to compare rates on different markets. This is where CoinSwitch comes in.
  4. CoinSwitch is the best cryptocurrency trading platform. It offers access to whole cryptocurrency exchanges at one place allowing users to compare and trade cryptocurrencies in real-time across all the exchanges. Users can compare upto 300+ cryptocurrencies and make an informed decision.

How to store POWR token?

Since POWR is an ERC-20 type token, it can be stored on any ERC-20 compatible wallet some popular choices are

  • MyEtherWallet
  • Mist
  • MetaMask
  • Coinomi
  • Ledger Nano S
  • Trezor

 

#4 - What is the future of Power Ledger?

  1. 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.
  2. 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.

Also Read: Complete Analysis of Power Ledger | Live Power Ledger (POWR) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.283242

0.328686

0.259734

0.291449

52,788,900

105,764,000

May 01, 2018

0.552432

0.562311

0.518011

0.561844

17,147,000

202,932,000

Mar 01, 2018

0.562847

0.584147

0.547041

0.580118

3,628,640

204,838,000

Jan 01, 2018

1.02

1.10

0.966561

1.06

48,577,100

362,957,000

Nov 01, 2017

0.056271

0.063499

0.045818

0.055671

1,017,460

-

Note: All prices are in USD

Support & Regulation

Despite being a relatively new project, Power Ledger has drawn a lot of attention on international level. It has been covered by several renowned names in the media industry, such as Forbes, The Guardian HuffPost, The Economic Times, The Memo, Financial Review, and several others. Power Ledger has partnered with many established business entities across the globe, some of them are listed below:

  1. In November 2017, the Australian government awarded Power Ledger a grant of $2.57 million AUD for conducting a two year research project in Fremantle, Australia.
  2. In September 2017 Power Ledger partnered with India’s Tech Mahindra to start Microgrid-as-a-Service (MaaS) trials in India.
  3. In December 2017, Power Ledger and BCPG (a renewable energy producer by by Thai government) signed a partnership to introduce the Power Ledger’s peer-to-peer trading platform in Thailand.
  4. In April 2018, Power Ledger and Japan’s second largest electricity utility company Kansai Electric Power Co. (KEPCO) entered into a partnership to begin the trial of peer-to-peer energy in Japan.
  5. During April 2018, Power Ledger began its commercial deployment in North-America by partnering with Clean Energy Blockchain Network.

 

#5 - How is Power Ledger is different from other cryptocurrencies?

  1. Unlike Bitcoin, Power Ledger is a complex ecosystem which facilitates a seamless peer-to-peer energy trading. It is also a blockchain platform which allows the creation of decentralized applications.
  2. Setting itself apart from most cryptocurrencies, Power Ledger is a dual-token platform, where each of its token serves a different purpose in the Power Ledger ecosystem.
  3. Smartbond protected POWR token serves as a fuel for the platform, whereas Sparkz is purchased with fiat currency and used for trading energy on the energy markets.
  4. Power Ledger platform operates on two blockchains — the Ethereum blockchain and Ecochain blockchain. This dual blockchain system allows Power Ledger to achieve the necessary flexibility to operate in diverse energy markets.

 

#6 - Should you invest in Power Ledger?

  1. So far, Power Ledger has performed well in the cryptocurrency markets. As of July 2018, its price shows a nearly 480% gain compared to its launched price in 2017.
  2. In a short amount of time Power Ledger has increased its reach to many countries around the globe by scoring several major partnerships. Government of Australia has even awarded Power Ledger a grant for a project.
  3. Power Ledger has developed many decentralized apps to revolutionise energy market and has many potential projects under development. As a platform which is trying to ease a world’s major problem, it exhibits decent potential.
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