The powerledger platform is a trustless, transparent, and interoperable energy trading platform that supports an ever-expanding suite of energy applications with an exchangeable, frictionless energy trading token called Sparkz.
It is the ecosystem that enables interoperability between diverse market management/pricing mechanisms and units of electricity (kWh) by way of pre-purchased tokens. It provides a transparent governance framework that allows the ecosystem to seamlessly interface with energy markets around the globe, bringing innovation and a wide range of network benefits to consumers. This means the ecosystem is adaptable and scalable for applications within any existing or future regulatory environment, achieving the dynamic agility required to adapt to any number of regulatory structures.
The market flexibility of the ecosystem is facilitated by the deployment of a dual token ecosystem (POWR and Sparkz) operating throughout its two blockchain layers.
The Power Ledger token is the fuel of the powerledger ecosystem that consists of bespoke private trading applications that create the Sparkz token and allow users to exchange it for POWR. It is the frictionless blockchain tokens that allow application hosts and participants to gain access to the platform and also serve the role of limited software licensing.
The Sparkz token is currently being purchased and can be redeemed using fiat currencies via individual trading platforms that can host closed-loop exchanges for energy and Sparkz. It is issued against escrowed POWR tokens, via a smart bond, and is used by the application host, entities, and businesses that run applications on the platform to onboard its customers.
Fusebox: The Power Ledger Applications Layer
The ecosystem’s application layer is the FuseBox, and it is responsible for all the magic that happens. The ecosystem’s architecture facilitates easy adaptation for both highly regulated and deregulated energy markets. It allows for direct trading between prosumers and consumers with or without the inclusion of industry intermediaries such as market operators, retailers, or transmission network operators.
It was designed to be configured to suit prevailing market structures and existing regulations, with the ability to reconfigure itself and continue trading seamlessly as policy change occurs within the local operating environment.
Who are the founders of Power Ledger (POWR)?
The heads of Powerledger are Bill Tai, Dr. Jemma Green, and John Bulich.
Bill Tai is an important board advisor who was originally trained as a chip designer. He joined LSI Logic, a seminal Silicon Valley startup formed by the CEO of Fairchild. After completing an MBA at Harvard, he was issued a badge #A001 at TSMC and is now among the most valuable tech company advisors in the world. He has been a venture capitalist since 1991 and today is the Chairman of Treasure Data and a Board Member of Bitfury and Voxer.
Dr. Jemma Green is the Co-founder and Executive Chairman and provides strategic external relations, risk management, and leadership development for Power Ledger. Jemma has more than 15 years of experience in finance and risk advisory. Jemma is a research fellow at the Curtin University Sustainability Policy (CUSP) Institute, whose doctoral research into “Citizen Utilities” has produced unique insights.
John Bulich is the technical director. He provides the strategic direction for conceptual, system, and application design and development for Power Ledger. He leads the technical team in the development of the Power Ledger platform, and he is also the director and co-founder of Ledger Assets, a Perth-based blockchain developer specializing in the creation and commercialization of technical and commercial blockchain systems.
What is Power Ledger (POWR) used for?
Allow developers to create their own unique applications
The Power Ledger ecosystem supports a growing number of energy trading applications, and some of the noticeable features of applications developed by Powerledger are limitless.
Retailers are given the ability to empower consumers. Sometimes consumers are self-empowered in an unregulated environment to simply trade electricity with one another and receive payment in real-time from an automated and trustless settlement system.
Transmit live exchange
In the management of transmission networks, powerledger can provide real-time metering data, collect big data, access and dispatch assets, settle transactions rapidly, and respond to nonstationary energy.
Trade with neighbors
Retailers can receive more money for excess power, benefit from transparency of all their trades on a blockchain, and also earn very low-cost settlement costs. Application hosts can transfer technology to consumers, helping them to grow their consumer base using their local market knowledge.
Providing governance and consumer protection through Smart Bond technology
Smart Bonds are automated contract bonds using smart contract technology that have in-built code to enforce compliance of the contract bond parties. For incumbent market participants, the POWR token will provide not only access to the network and the ability to vote, but also the Smart Bond functionalities.
Facilitating access to the use of the Platform
By purchasing a sufficient number of POWR tokens allowed, application hosts can access the ecosystem from where they can convert their POWR tokens to Sparkz and onboard their customer base. The POWR token is the access token, like a software license, that allows application hosts to transact on the platform through trading POWR tokens for Sparkz.
Providing loyalty rewards to Participants
All prosumers generating and consumers purchasing renewable energy are rewarded with POWR tokens, under the Green Energy Loyalty Rewards program, for using the platform.
How is Power Ledger (POWR) unique?
It enables numerous power supply-centered requests like electricity metering, big data acquisition, rapid micro-transactions, and grid management at an unprecedented granular scale.
In addition, they also offer rapid, low-cost, and transparent dispatch optimization and management, data aggregation, reconciliation, and settlement for wholesale energy marketplaces.
They can facilitate real-time metering data (interfacing with the Open Charge Point Protocol (OCPP), collection of data, user identification, and rapid transaction settlement, and also offer smart contracts for carbon traders to ensure digital transactions across organizations. The platform supports reporting and surrendering of carbon credits or certificates to regulatory authorities.
How many Power Ledger (POWR) coins are in circulation?
Power Ledger’s (POWR) circulating supply is 425,498,654 POWR as of February 2021. With a maximum supply of 1,000,000,000 POWR.
How is the Power Ledger Network secured?
Currently, Power Ledger uses the EcoChain (EcoChain) blockchain, a private Proof of Stake (PoS) low-power blockchain developed in-house and live tested in the energy markets during trials in 2016 and 2017. EcoChain has been tested in high-load environments and has provided valuable insights into blockchain functionality and compatibility. Though it does not offer the same decentralized security as its public counterpart.
How do I buy Power Ledger (POWR)?
The POWR token can be used for a wide range of uses, like staking and governance.
POWR tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy POWR through your trading account.
Which Cryptocurrency Wallet Supports Power Ledger (POWR)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Power Ledger (POWR). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their POWR wallet because it offers a simple interactive interface, making it easy for people to navigate its system.