What is WePower (WPR)?
Future of WPR Cryptocurrency and know how to buy WPR

#1 - What is WePower (WPR)?

Today when the world is facing problems like global warming and rising pollution levels, it has become of critical to choose clean and sustainable energy sources. Though we already have some alternative energy sources such as solar, hydro, wind, and geothermal, the obstacle is a lack of capital to fuel such projects. WePower aims to accelerate this transition by creating a platform that allows green energy producers to raise the necessary capital and increase the adoption of green energy in consumers.

WePower (WPR): The Basics

  1. WePower is an open-source, Ethereum blockchain-based platform, designed to raise funds for renewable energy producers. It aims to allow green energy trading via digital smart contracts.
  2. WPR token is the native cryptocurrency of the WePower blockchain. WPR token holders have advance access to green energy auctions held by green energy producers on WePower platform.WPR tokens were pre-minted. This means these tokens are already fixed a number so WPR mining is not possible.
  3. On the WePower platform, smart energy tokens help in the trading of green energy. Each energy token equals 1 kWh of green energy that is to be produced in the future. This mechanism is called Energy Tokenization.
  4. WePower works on the mechanism of energy tokenization that ensures liquidity and allows green energy producers to draw funds from the global capital pool. This facilitates direct green energy trade between energy producers and energy buyers, at a price lower than that of the energy market.

Development of WePower (WPR)

  1. As an international company, WePower is registered in the name of WePower UAB in the Republic of Lithuania. It was founded by Nikolaj Martyniuk who currently serves as a CEO of the company. Nikolaj had previously worked on renewable energy projects in Europe, and he is the one who came up with the idea of WePower.

  2. The other two co-founders are Artūras Asakavičius and Kaspar Kaarlep, both are serving WePower as Chief Operating Officer and Chief Technology Officer, respectively.

 

#2 - What are the benefits of WePower (WPR)?

WePower Technology

How WePower helps with financing a renewable energy project. Image source: WePower

  1. WePower is built on top of the Ethereum blockchain which enables WePower to use smart energy contracts for energy trading. These smart contracts act as an agreement of energy trade between energy producers and energy buyers.
  2. If an energy producer requires capital, they may sell a portion of green energy (equivalent to the amount of capital needed) which will be produced in the future, by auctioning energy in the form of energy tokens.
  3. Energy token holders can sell their tokens to others in the market or they use them once the green energy is produced.
  4. Each energy token acts in itself as a smart contract containing necessary information such as the type of energy, the timestamp when the energy will be produced and delivered and of course, the price tag.

Key Features of WePower

  • Standardized: WePower is leveraging renewable energy producers by standardizing energy tokens which enable energy producers and energy consumers or investors to trade green energy on a global scale.

  • Transparent: WePower is a blockchain based platform and uses smart contracts. It eliminates the involvement of any third party. At the same time, the project is open-source. Therefore, anyone can view the code for transparency purposes.
  • Efficient: WePower is an efficient platform to raise the necessary funds for a renewable energy project. All that energy producers need to do is to auction some part of the energy produced as energy tokens. People can invest in the project by purchasing these energy tokens.
  • Tradable: Energy tokens, which are essentially the smart energy contracts, can be traded freely on WePower. Token holders always have a choice to either sell or use the energy; once produced.

 

#3 - How to buy & store WPR?

How to Buy WPR tokens?

Over 746 million WPR tokens were pre-minted which were later distributed in certain percentage among different entities. From the total sum, about 4%  WPR tokens were given to WePower team and 3% are reserved for future use. These tokens are locked in for 3 years and 4 years respectively.

  1. WPR tokens are available for trade on multiple markets. Some markets which WePower recommends are: Binance, Huobi, Bitbns, Liqui, IDEX, KuKoin, etc. Most markets have paired WPR with BTC and ETH.
  2. Another good option is CoinSwitch, the largest cryptocurrency exchange platform. CoinSwitch allows users to compare rates and trade 300+ cryptocurrencies across all exchanges. Users can compare, convert, and trade WPR all in a single place.

How to store WPR?

  1. WPR token is an ECR-20 type token.
  2. Any standard ECR-20 compatible wallet can be used to store WPR tokens. One of the most popular choices is MyEtherwallet.
  3. Users can also opt for hardware wallets such as Ledger Nano S to store their WPR tokens.

 

#4 - What is the future of WePower (WPR)?

Trend so far

Also Read: Complete Analysis of WePower | Live WePower (WPR) Price Charts And Predictions

  1. As of June 2018, WePower (WPR) stands at 286th place in the global cryptocurrency market with a market cap of over $17 million. There is a total supply of about 745 million WPR, out of which about 448 million WPR are currently in circulation.
  2. At an initial price of $0.207098, WPR cryptocurrency began trading on February 9, 2018. However,the immediate decline in price was observed in the days that followed.
  3. On February 24 2018, WPR’s price touched its all-time highest mark and valued at $0.289834.
  4. Since March 4, 2018, there has been some decline in its price with some minor fluctuations, and as of June 2018, the prices have decreased to $0.037949.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

0.083470

0.085238

0.080122

0.082397

3,644,430

37,252,900

May 01, 2018

0.156760

0.156760

0.142220

0.152230

6,652,820

64,028,600

Apr 01, 2018

0.091768

0.094013

0.080712

0.087603

4,744,920

36,933,100

Mar 01, 2018

0.170499

0.180013

0.169475

0.174185

5,939,700

60,645,700

Feb 09, 2018

0.207098

0.213819

0.145000

0.175546

782,690

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Support and Regulation

  1. WePower has received the letter of support from the ministry of the Republic of Lithuania.
  2. WePower and Eleon have partnered to facilitate windmill installation financing model and explore new possibilities of Eleon’s windmill integration with WePower.
  3. WePower has been chosen for the Australian energy track program, extending its reach further into the international market.
  4. WePower and Elering (an Estonian national transmission service operator) have signed a memorandum of understanding to explore the possibilities of sharing technological knowledge.
  5. Apart from these partnerships, WePower has also connected with Conquista Solar, the Civitas Project and Novacorex.

 

#5 - How is WPR different from other cryptocurrencies?

  1. Unlike other cryptocurrencies, WPR functionality is not limited to just peer-to-peer transactions. It essentially fuels the entire WePower cryptocurrency platform.
  2. For WPR token holders, WPR token act as a priority access to various auctions held on WePower platform, so essentially WPR Token holders can bid on energy tokens in advance.
  3. Every time green energy is produced by energy producers, they donate 0.9% of that produced energy to WePower token holders. Every WPR token holder receives energy in proportion to the number of tokens they hold.

Image Source: WePower

 

#6 - Should you invest in WePower?

  1. With the imminent threat of global warming, people and industries around the world are looking for alternative sources of energy which are clean and renewable. WePower is providing an opportunity to address this real-world problem by making investment and adoption of green energy easy.
  2. Within a short time, WePower has grown considerably and still growing. As a business entity, it has already extended its reach to countries like Australia, Italy, and Spain and many projects are already on their way.

WePower is welcomed openly and has been backed by the government of Lithuania, and along the way it has bagged some key partnerships. WePower certainly seems to have a lot of potential for growth.

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