Power Ledger (POWR) Logo
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Power Ledger (POWR) is a blockchain-based platform released in May 2016 with the goal of disrupting the global energy industry by enabling local areas to sell and distribute solar power to their neighbors without the help of middlemen. It is a technology company that uses blockchain to facilitate energy and environmental commodity trading.
It is based in Australia and encourages dependable and affordable electricity. Power Ledger runs on the Ethereum network as a peer-to-peer energy exchange platform.
In 2015, 30 countries had reached grid parity, meaning that the price of solar-generated energy was equal to or less than the cost of local retail electricity. Power Ledger combines solar power and blockchain to offer energy solutions that are cheaper and more sustainable than traditional energy alternatives.
Power Ledger operates on two blockchain layers and uses two coins, the Power Ledger (POWR) token and Sparkz, which offer different functions. The platform itself uses the public Ethereum blockchain and a private consortium blockchain known as Ecochain.
The POWR token allows application hosts and participants to use the platform itself. When a host does not have the right amount of POWR, they cannot access the platform. POWR is traded through the Ethereum Smart Bond exchange.