Power ledger review: Where to buy POWR and How to mine it?
With the proliferating value and demand of renewable energy, countless people are there who are left with excess renewable energy and want to resell them. Currently, you can’t imagine a world where there are no big companies and foreign resources to provide you with the resources you need to survive in this world. Selling the energy ‘back to the grid’ offers the users appalling prices due to the monopoly held by oligarchies (the energy companies). This is where the Power Ledger comes in with its innovative idea. Power Ledger aims to double the price you get from the sale of renewable energy through the introduction and integration of a peer-to-peer network. In the near future, you can come across a world where you don’t have to rely on big companies or foreign resources for the energy. Instead, using the power Ledger decentralized application, there are plans to completely revolutionize the entire energy ecosystem by enabling local areas the permit to sell and distribute solar power to anyone in the neighbors without any need to intervention from a middleman. Here in this review, you will be able to understand what is power Ledger, how it works, Where to Buy POWR and much more. So, let’s get started.
What is Power ledger?
Power Ledger (POWR) is an Australian based company which addresses the problem of energy and is working to innovate the energy industry allowing small-scale companies and individuals to sell the extra renewable energy. This not only improves the scope of energy utilization but also improves the efficiency of the consumption of energy thereby consuming less energy. This is Australia’s first ICO which aims to decentralize the renewable energy market by allowing the POWR token holder to buy or sell surplus renewable energy on the Ethereum Blockchain technology at very low fees by monitoring their consumption and usage. Power ledger is a distributed Blockchain based platform which supports an extensive list of energy- focused applications by featuring its deployed platform which can use to deploy other applications. Not just one, but many leading Blockchain energy applications makes up Power Ledger where it incorporates peer to peer trading network for energy utilization. With the advanced technology of this cryptocurrency platform, the customers and producers can be benefitted from the auditable, comprehensible, automated and transparent market trading. The surplus renewable energy can be generated in both residential and commercial development where the entity (the producer) is under a microgrid or connected with the existing electricity distribution networks allowing it to earn Cryptocurrency coin and removing the energy and its cost constraints on the users or customers.
Power Ledger Project Overview and key highlights
Power Ledger token holders can sell off their surplus renewable energy which they have generated in the comfort of both residential and commercial place. The privately generated energy at the comfort of their home or office can be transmitted through existing micro-grids or can be combined over the electricity distribution networks. This initiative started by their cryptocurrency platform empowers consumers by helping them to manage the energy economy by creating a win-win situation in today’s world and a trick where many people won’t give much attention enabling its users to get the most out of it. These utilities can smooth the progress of trading and consumers by allowing them to receive payments in real-time in a reliable, automated, and highly secure environment.
Here, the buyers have the chance to select only clean energy sources as they have to pay for it. Through Power Ledger, the user can trade with other consumers, including Jim and Nancy from next door. Furthermore, all parties leverage transparency benefits as per the smart contract which is associated with the Power Ledger Blockchain technology. All the exchanges and the amounts of energy generated, distributed and consumed are all kept and recorded on the public Blockchain. This ensures that the settlement fees are significantly low thereby signifying proper translation to higher returns for power Ledger consumers who want to and are looking for investing in renewable energy. Power Ledger’s platform handles the menace of non-supply of deliverables thereby promoting user confidence.
There are some additional features available on the cryptocurrency platform which includes allowing power metering, acquisition of data and rapid microtransactions and grid management. All grid management functions and amenities are handled at granular scale.
Key Applications for Power Ledger
Power Ledger includes some intriguing applications to profit diverse sections of generation of renewable energy and its consumption. From electric vehicle charging and carbon exchanging to showcase price management, their cryptocurrency platform can do all the truly difficult work for you. Here is a short glimpse of what Power ledger can do.
Wholesale market settlement – The Power Ledger stage offers a wide assortment of features, applications, and abilities for the wholesale market and commercial centers. These incorporate complete information about the settlement, data aggregation, and reconciliation. Also, it gives straightforward dispatch optimization and administration features. All exchanges are handled quickly at a reasonable rate.
Independent Asset Management – Users can exploit Autonomous Asset Management (AA) abilities. The platform can deal with shared responsibility for resources and the exchanging of the different advantages. This AA application is intended to help the purchasing and offering of sustainable power source notwithstanding the dispersion of the POWR cryptocurrency coin into the assigned address.
Distributed Market Management – This hands-off application gives the ability to deal with stack adjusting, streamlined metering information, resources dispatch, information accumulation and fast exchange settlement naturally. No more spreadsheets are required through this platform.
Electric Vehicles – The electric vehicles platform application utilizes the Open Charge Point Protocol (OCPP) to deal with different capacities. These incorporate identification proof, creating ongoing metering information, exchange settlement, and information gathering.
Power Port – This application is intended to help resources connected to the arrangement of versatile storage discharge facilities. This feature is aimed at keeping up a consistent supply of vitality to customers.
Carbon Trading App – Carbon exchanging is one of the EU’s biggest moves to back off down the environmental changes and disturbance. This application offers brilliant contracts to anybody wishing to take part in carbon exchanging. The agreements give affirmation to every single computerized exchange, transparency and believability of advantages. Clients can make use of different features while inspecting the transaction. The application enables carbon merchants to submit attributes and authentications to management experts. You can also find out information about different applications supporting Power Ledger though this app.
How Does Power Ledger work?
Power Ledger works to solve basically two problems which are: declining the utilization of the resources and maintained it through a Blockchain network so that the Company can track down the distributed energy assets and associate transaction according to that and providing peer to peer renewable energy trading in buildings. There are two tokens which are related to the working of the Power Ledger which is POWR token (You can buy it from exchanges) and Sparkz which can be used only on the Power Ledger platform.
Power Ledger Tokens are the access tokens that allow Application Hosts and Participants to access and use the Power Ledger cryptocurrency platform. If an Application Host or participant does not have a prescribed sufficient number of POWR coin, he or she will not be able to access the Power Ledger platform. In this system, the POWR coin can be traded and put into an escrow system through an Ethereum Smart Bond exchange for Sparkz. Once an Application Host or participant has escrowed enough of its POWR Tokens, he or she will no longer be able to transact on the platform until he or she purchases or obtains a sufficient number of POWR to provide access. After an Application Host gets enough POWR token and returns Sparkz to the platform, the Ethereum Smart contract will be unlocked and the previously escrowed POWR will be returned to the Application Host or participant.
The Users or the hosts in possession of enough POWR tokens will automatically gain access to the smart bond functionalities. After unlocking the smart bond, the application hosts are given coins from the growth pool as an enticement to contribute to the augmented use and development of their apps. The participants are also expected to refer more and more consumers and thus help them expand the participation and customer backing all across the world. Sparkz is the tokens which are used on the Power Ledger platform. The tokens are put in an Ethereum smart bond escrow planned purposely for Sparkz. Sparkz is the internal currency for the platform which is used to actually purchase and distribute (sell) renewable energy on their platform. Users can unlock the smart bond by simply returning the Sparkz. If the number of tokens in the escrow increases, the organic demand of the tokens will tend to increase. The Sparkz token can’t be bought in any cryptocurrency exchanges and are issued against POWR token through an Ethereum smart bond. The participants are protected from the risk associated with any problem by the provided smart bond contract. Customer pays money for Sparkz and is used by application hosts to onboard the customers. The value of Sparkz changes as the cost of local renewable energy changes and these token can be sold by using fiat currency.
About the ICO
In total, 1,000,000,000 POWR tokens are created out of which 350 million was allocated for the ICO token sale. The Sparkz supply is unfixed as they are generated when required, used and then destroyed after the work is completed. 35% of the total supply is kept for the ICO, 25% is for the company reserve, another 25% is to incentivize the users and the remaining 15% is kept for the Escrow Developer’s pool. In the ICO, 190 million coins were sold where each POWR token was priced at 8.8 USD.
The team behind Power Ledger
Power Ledger team comprises of one of the most remarkable developers, experts, marketers, and advisors who have years of experience in working in crypto space. Dr. Jeema Green, John Bulich, David Martin, Dr. Govert Van Ek are the co-founder of the company along with the renowned Bill Tai, who is serving as the advisor of Power Ledger.
How to mine POWR?
Unfortunately, if you are looking for how to mine POWR, let me tell you that, it is not mineable. POWR mining is not possible until now but it can be possible in future.
Where to Buy POWER LEDGER?
If you are searching for “where to buy POWER LEDGER” we have got you covered. There are various cryptocurrency exchanges which can help you with the purchase of POWR.
Binance is one of the most fascinating and popular cryptocurrency exchanges which provides you with a separate version for both Basic and advanced users. The platform allows you to purchase POWR at extremely affordable fees of 0.1%.
This cryptocurrency to cryptocurrency exchanges allows for your purchase POWR with Ethereum or USDT at challenging fees of 0.20%.
This global leading cryptocurrency exchange has a wide list of available tokens and trading pairs with transparent and easy exchanging mechanism. It is one of the easiest and most intuitive exchanges for purchasing POWR for beginners.
These are one of the best exchanges for where to buy POWR as they allow you frictionless transactions at the best fees.
Where to Store POWR?
As it is an ERC20 token, you can store it all those wallets which are compatible with ERC20 tokens. Here are the wallets which you can use for storing POWR.
The most intuitive and secure wallet for storing ERC20 token is MyEtherWallet. It is not just easy and free to create a wallet with MEW but accessing it and transferring assets is even more straightforward and sleek.
Ledger Nano S is a hardware wallet which allows storing POWR in an offline USB device (Ledger Nano S) keeping it away from the sight of hackers.
Trezor is another hardware wallet with a lot of features and safe environment for storing all your POWR tokens.
If you are in a search of peer- to peer energy exchange or if it sounds exciting, you must give Power Ledger a try. Not just it will save a lot of money but will help you avoid the dependence on other sources for energy consumption. Many Reddit users in communities like BitcoinTalk and Reddit post about the experience with Power Ledger platform and how it transformed their lives. Apart from that, POWR is looking like a great investment for some serious lucrative outcomes.