Powerledger is revolutionizing the world of energy

Powerledger (POWR) is indeed a technology company that brings the software to a sustainable decentralized and distributed energy market. The company develops software to achieve its goal of having a viable and green future. Headquartered in Australia, the blockchain-based cryptocurrency and energy trading platform allows its users to purchase and sell renewable energy.

Powerledger helps track flexible services

Incredibly, the firm introduced a solution to track and trade flexible services. Such services include energy as well as environmental commodities. Powerledger aims to offer a platform for a market-driven, thoroughly modernized grid. Indeed, the firm offers consumers a choice in their energy while driving the democratization of power.

How does blockchain helps revolutionize the energy sector?

– Advertisement –

Blockchain technology processes information. Powerledger believes that the world seeks a more efficient system to encourage energy and when and where it is required. Many wanted to scale renewables without the headaches we see in places where it’s being scaled using centralized planning and fading tariffs.

Hence, the firm integrated blockchain technology to boost renewables while keeping the energy costs down and having a low carbon and stable system. 

Instability with a centralized system

We can observe places like Germany, where there is high penetration of renewables, the centralized planning around the scenario is unstable.

Indeed, such places require more energy from coal and gas to offer and supplement the system. Ultimately, such measures do not do well on the carbon side, in spite of having more than 50% renewables in the system.

Sustainable and cheaper energy solutions

The ERC-20 based tokens are one such currency that is traded through the Ethereum Smart Bond Exchange. The renewable energy platform can combine blockchain technology with renewable energy to offer energy solutions that are more sustainable and cheaper when compared to traditional energy alternatives.

Renewable energy trading marketplace

POWR, the native utility token of Powerledger, has numerous purposes. The token allows users to participate in the Powerledger ecosystem. Moreover, the token helps various secure products, including verification, energy trading, and clean energy tracking.

POWR acts as a license that is often needed for businesses like microgrids, utilities, renewable energy operators, property developers, and other firms entirely committed to renewable energy to access the platform.

Two blockchains and two tokens

Powerledger is operated on two layers of blockchain technology and uses two tokens. The two tokens include the POWR token and the Sparkz tokens. Furthermore, it is noteworthy that the platform uses the second most popular public blockchain of Ethereum and a private consortium blockchain known as the EcoChain.

Why is the energy markets operator so special?

Powerledger offers Vision, xGrid, uGrid, PPA Exchange, TraceX, Local Energy Markets (LEM), Power Purchase Agreements Vision, and Mode Flex. Additionally, the platform is easily contracted separately and scaled whenever required. All the products offered by the platform are divided into three pillars: flexibility trading, environmental commodities trading, Energy trading, and traceability.