Power Ledger is a distributed, live and deployed energy trading platform that possesses the ability for others to develop applications on it. It supports an extensive suite of energy-focused applications and solves two major problems in Blockchain technology:
Low penetration of renewables in apartments, where allocation model for microgrids and a shared ownership can be provided by blockchain.
Declining utilization of electricity networks that can be maintained through a marketplace for distributed energy assets and associated transactions reinforced by blockchain.
Currently, Power Ledger has a total volume exchange of ₹796,355,618 and a circulating supply of 364 Million coins. You can also trade Power Ledger at lucrative prices, by just signing up with Bitbns. This crypto trading platform, founded in December 2017 is one of the best cryptocurrency trading exchanges that assures easy and fast crypto trading in India. Instant deposits, instant KYC, zero fee for withdrawals and many other features at Bitbns are sure to enhance your trading experience.
Power Ledger ICO
Power Ledger completed its ICO on 6th October and was able to raise more than $24 million.
The POWR tokens traded on the Ethereum network and within 72 hours, the company sold out 100 million POWRs offered in a public presale, in which the price per token was set, for a total of about $17 million. Backed by more than 15,000 supporters, the ICO received half of the contribution in the form of traditional currency and rest in the form of Ether, Bitcoin and Litecoin.
POWR Token System
Power Ledger has a dual token system, similar to Factom:
POWR: It fuels the Power Ledger Ecosystem. For participating in the platform, you POWR is required to generate Sparkz.
Sparkz: This is the unit of energy that is pegged to the domestic currency.
The applications within 2 concurrent models is quite interesting. The dual model approach focuses towards the retail market and direct P2P. This model proposes high degree of platform adaptability towards existing market structures and provides a deregulated market setting.
Apart from this, Power Ledger has “proofs of concept” in some of its successful pilot projects in New Zealand and Australia. With the support of some established energy retailers, they have also deployed a commercial project in 2017. This project made them the first Australian company to manage settlements without going through an electricity retailer and facilitate electricity trading across the meter.