About Power Ledger (POWR)

Power Ledger is a blockchain-based protocol that facilitates the creation of various decentralized energy markets. Individual power consumers, apartment building, shopping centers, etc, can leverage the platform’s services to trade, consume, trace, and track renewable energy resources.

The platform’s flagship offering GridX, allows individual consumers on the same energy grid to trade their power on a peer-to-peer basis. For households and small business with solar capabilities, GridX is a ready-made solution allowing power-generates to monetize their renewable resources.

UGrid is an application allowing for power tracing and trading within embedded networks and microgrids. It’s tailored towards large commercial/residential space in need of a way to monetize their and manage their energy resources. Under this framework, tenants and resident can use the energy allocated to them or sell it to others on the same grid.

 Another novel offering, VPP 2.0, allows renewable energy producers with batteries to sell excess power during times of peak demand. According to CoinBureau, VPP 2.0 provides energy firms with a streamlined and decentralized means of procuring energy in times of need. Power Ledger has also entered the carbon credit space with an application used in the verification, reporting, and measurement of CO2 credits.

Per CoinBureau, Power Ledger’s Vision protocol allows independent households/businesses to choose their ideal energy mix based on the type, source, location, and amount of power they wish to consume.

Power Ledger has a native token, POWR, that facilitates access to the platform, the project’s whitepaper explained. POWR can also be staked to the network for tokenized rewards. Token holders can exchange POWR for SPARKZ, a second, non-transferable token used to purchase energy on the network. SPARKZ is denominated in the local fiat of the platform participant. 

As of June 2022, Power Ledger was partnered with 30 major clients spanning 12 countries and 5 continents.

When was POWR created and how much was it worth?

It was formed in 2016 when founders say they “saw the need to disrupt traditional energy.” The platform now has projects in 11 countries across four continents.

Powerledger's ICO started in early September of 2017 and concluded four weeks later in October of that same year. Shooting from $0.20 up to more than $1 over the next few weeks, POWR reached an all-time high of $1.89 in January of 2018.

How is the price of POWR determined?

It’s a deflationary asset with a maximum supply of 1 billion. About 600 million of those are in circulation. During the ICO, POWR tokens were sold in chunks, first about 200 million were sold privately via a pre-sale and then 160 million more were sold publicly, raising a total of $34 million.

The founders and team received 15% of supply (150 million POWR). The remaining 25% of supply (250 million POWR) went to an escrow contract for future developer and community incentives, according to Messari.

Why does POWR have value?

According to Messari, the project intends to take POWR tokens from the growth pool and gift them to larger providers as an incentive to adopt the platform, locking the tokens up in escrow for multiple years. This will keep large hosts on the platform engaging and connecting with users, Power Ledger team leaders believe, Messari said.

Also backing Power Ledger is the Australian government which has provided funding through grants; and there are private donors interested in

promoting clean energy solutions which is becoming a huge business, as the world transitions away from fossil fuels, toward carbon neutral goals.

The project has positioned itself to disrupt multiple energy markets throughout the world.

Is POWR secure?

Power Ledger trades on 60 exchanges, with most volume taking place on Upbit, Binance and Bithumb.

The project uses the public Ethereum blockchain to support the POWR token as well as a private consortium blockchain, called the EcoChain, for the transaction of energy within peer-to-peer trading environments. EcoChain is a low cost, in-house, Proof-of-Authority blockchain that has been live tested in multiple public trials. The Ethereum blockchain core allows for POWR to be ERC20 in nature and provides a trustless  and open source implementation of key components of POWR.

What are the main benefits of POWR?

• The project touts itself as well-positioned to disrupt multiple energy markets throughout the world creating “a green revolution.”
• Power Ledger allows for decentralized selling and buying of renewable energy, as CoinGecko noted. It’s transparent and automated.
• The platform provides consumers with access to a variety of energy markets around the globe and is meant to be scalable to various energy infrastructures and regulations, CoinGecko said.
• Power Ledger gives local communities the ability to sell their excess solar power to neighbours.

What do critics say about POWR?

The project faces a scaling problem and tax issues, Coinopsy said.