Zug, Switzerland, October 13, 2024, Chainwire
Powerledger (POWR) has officially completed its integration into the ecosystem, accelerating the pace of innovation in global sustainability markets. The move combines Solana’s cutting-edge blockchain technology with Powerledger’s proven energy and environmental commodity trading and energy tracking solutions, setting the stage for faster, more proficient and cost-effective pristine energy solutions around the world.
On October 1, 2024, Powerledger began phasing out its proprietary blockchain, marking the transition to the POWR token on both platforms and Solana. This dual-chain approach unlocks the potential of tokenizing, trading and tracking renewable energy assets, including pristine energy surpluses, renewable energy certificates (RECs) and carbon credits (CCs), while increasing global environmental responsibility. Powerledger’s proprietary energy solutions are now moving to the Solana mainnet.
“With our new Solana POWR token, we are excited to leverage the Solana network, allowing for lower fees and faster processing, which aligns with our vision to make clean energy more efficient and accessible to all,” said John Bulich, Co-Founder & Director, Powerledger.
Solana POWR: Speed, efficiency and sustainability in action.
This integration enables the Powerledger platform to scale faster, support huge transactions in the energy and environmental goods markets, and contribute to a more proficient and decentralized energy future as part of global sustainability efforts. This integration with the Solana mainnet offers:
- POWR token availability: The POWR token is now available on both Ethereum and Solana, with no change to the total token supply. The token exchange mechanism ensures that for every POWR token minted on Solana, an equivalent amount will be locked on Ethereum, maintaining the integrity of tokenomics and preventing inflation.
- Greater flexibility and interoperability: The dual-chain approach ensures that POWR remains accessible to users who prefer Ethereum, while leveraging Solana’s powerful infrastructure and vivid community to create novel solutions and collaborate on sustainability.
- POWR as a payment token:POWR will continue to serve as a payment token for platform services on both Ethereum and Solana, encouraging green behaviors such as offsetting greenhouse gas emissions and reducing energy consumption. Powerledger also completed the integration of its own energy platform with Solana, leveraging Solana’s latest tools and technology.
Powerledger (POWR) will play a key role in enabling the tokenization and trading of renewable energy assets, helping enterprises achieve their sustainability goals while making energy markets more crystal clear and accessible to all.
About Powerledger
Powerledger is a Web3 company that pioneers solutions to pressing energy challenges, enabling access to cheaper, cleaner electricity and a crystal clear environmental trading market. Founded in 2016, Powerledger is known as Australia’s first and most successful ICO. Powerledger previously experimented with Ethereum forks before switching to a strenuous fork on the Solana platform last year. Currently, Zug-based Powerledger is recognized as one of the top 50 companies in the Crypto Valley in Switzerland.
More information can be found at https://www.powerledger.io/
YouTube: https://youtu.be/DR-AQIyk9V0?si=dJf-H_SttyQkpbBm
ContactSnehal PawarPowerledgerpr@powerledger.io
