What Is Power Ledger (POWR)?

Power Ledger (POWR) is a technology and software company that uses blockchain for trading renewable energy. The company aims to develop software for clients that allows consumers to track, trace, and trade energy (in kilowatts) and helps to invest in renewables. The Power Ledger ecosystem as a platform seeks to take the control out of the hands of central players and put the citizens in charge of a cocreated energy future. The platform provides a transparent governance framework and can be scaled to suit as required. Accordingly, the platform seeks to offer products categorized into three facilities, i.e., flexible trading, energy trading and traceability, and environmental commodities trading.

According to the whitepaper, the Power Ledger ecosystem supports over ten application classes, such as P2P (peer-to-peer) trading, neo retailer, microgrid, wholesale market settlement, distributed market management, and more. Consequently, one of the platform’s applications empowers the consumers to trade electricity with one another. With their trustless reconciliation and settlement system, consumers also receive payments in real time. Thus, P2P trading aims to benefit consumers by selecting a clean energy source and trading with their neighbors to receive more revenues from excess power. Since all the transactions are on a blockchain, the process is transparent with a low settlement cost. As a result, consumers get lower power bills and improved returns for their investment in renewables.

The Power Ledger deploys a dual-token ecosystem, POWR and Sparkz, for its two blockchain layers. However, POWR tokens allow the application hosts and the participants to access and use the platform and fuel the Power Ledger ecosystem. Since the platform’s core value is sustainability, Power Ledger has chosen a hybrid public and consortium blockchain approach. Thereby, POWR tokens work on the public Ethereum blockchain. Power Ledger’s private, industry-specific consortium blockchain is EcoChain, which is based on a proof-of-stake consensus mechanism.

The tokens seek to help users engage with the Power Ledger ecosystem in various ways, such as providing access to use the platform and loyalty rewards to participants. Also, the token seeks to aid in contributing and connecting with renewable energy charities, organizations, and more.

History of Power Ledger (POWR)

Developed in 2016, Power Ledger is led by a team of members and advisors based out of Australia who value the global democratization of the energy market. Dr. Jemma Green is the cofounder and executive chairman of Power Ledger and was named the Australian EY Fintech Entrepreneur of the Year. In 2017, the Power Ledger team released the whitepaper elaborating the technology road map. With their presence in more than nine countries with over 20 projects, they have memberships with reputable organizations in the energy and blockchain industries.

How Are New POWR Tokens Created & Earned?

The platform reveals that a maximum total supply of 1,000,000,000 POWR tokens have been created to encourage platform participants to join and use the system. The platform aims to implement this onboarding by discounting or gifting POWR tokens to users with a customer base ready to join the Power Ledger ecosystem as utilities or application hosts. Later, the gifted and discounted tokens are held in an escrow for a minimum of one to three years to ensure they are used in the platform.

Further, the network proposes staking incentives for POWR, set in the epoch, a period of time on the Power Ledger chain that usually lasts two to three days. The Power Ledger chain aims to pay out 37,000 POWR every epoch, for a total of around 5,000,000 POWR per year. For the first four years, these incentives will be accessible, and the network endeavors to reassess the reward structure when that time period has passed. On a proportional basis, Power Ledger aims to allocate POWR based on users’ network involvement. Simply put, the more a user stakes POWR, the better the benefit that the network seeks to give.

As of December 2021, Power Ledger released an update on its staking mechanism that the team develops. Accordingly, the network aims to offer two staking options, one that is based on an Ethereum contract and the other that is more decentralized.

How Many POWR Tokens Are Available?

The Power Ledger reports a maximum total supply of 1,000,000,000 POWR tokens. 

How to Buy the POWR Tokens

Power (POWR) can be purchased and traded on Coinbase.com or the Coinbase app. It's safe, secure, and easy.