Powerledger project has received a lot of attention recently as a result of which there is more interest in trading the POWR token.
And why not should there be more interest, given that the initiative of Powerledger was among the first to offer P2P trading based on blockchain technology.
They want to not only decentralize the process but also democratize it and give users a platform to sell their excess electricity.
In this article, I will look at POWR token’s long term use cases and opportunities.
First we will introduce you to Powerledger and how it works.
Then I will give you a brief about Powerledger’s native token’s tokenomics. Read ahead to find out all.
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What is Powerledger (POWR)?
In this section, I will attempt to answer what Powerledger is as a blockchain platform by looking at its overview and technological background.
Overview and Purpose
Powerledger is a technology company that has developed a platform to enable energy and environmental commodity trading.
The platform aims to empower the trading of electricity and renewable energy credits in an efficient and transparent way using blockchain technology.
The project is all about finding solutions for decentralized energy markets.
They’re working on things like keeping the power grid stable and making sure people can trade energy with each other.
They have solar swaps to allow people to share their excess solar power with others.
Technological Foundation
Founded in 2016, Powerledger is an Australian company that creates software to track, trace, and trade renewable energy.
Their specialty is using blockchain technology to make energy markets more efficient.
They help people trade energy directly with each other, trade environmental commodities, and provide flexibility services to power grids.
Powerledger utilizes blockchain to create an immutable record of energy generation and consumption, facilitating real-time transactions with minimal transaction fees.
This shows that the market will continue to grow and extend in days, months and years to come.
How Does Powerledger (POWR) Work?
Powerledger uses a platform that works on two different blockchain layers and relies on two different tokens.
It leverages a dual-token ecosystem consisting of POWR and Sparkz tokens.
Key Components
This platform is built on Ethereum, as well as a private blockchain network called EcoChain.
The platform incorporates both public and private blockchains to ensure efficient and secure transactions.
The main token here, called POWR, is an ERC-20 token that basically serves as a license for businesses.
It’s for companies and organizations involved in renewable energy, like renewable energy operators, utilities, microgrids and so on.
Those hosting apps on the Powerledger platform have to buy and keep a certain minimum number of POWR tokens so their users can interact in the marketplace.
The market’s customers can also turn their POWR tokens into Sparkz tokens right on the platform.
There’s no need to go through any intermediaries to do this, so the apps keep on running without any outside interruptions.
Functionality
POWR tokens are used for platform access and host smart contracts, manage the energy trading, while Sparkz represent energy credits tied to local fiat for direct marketplace transactions.
The POWR tokens are kept in a special Ethereum smart bond contract that was built specifically for Sparkz, which is the main currency used on Powerledger for trading.
Once you’re done using Sparkz, you can get your POWR back by returning the Sparkz to the smart bond contract.
POWR Tokenomics
Powerledger native token is called POWR for short.
We have talked about its main purpose, that is, to host applications on the project. But what are its other uses and supply characteristics?
Token Supply and Distribution
Powerledger uses a fixed supply of POWR tokens that facilitate access to the trading platform and are necessary for application hosts to engage with the ecosystem.
It had its ICO in 2017, raking in $13.2 million by selling 350 million tokens of POWR.
The token went live on November 1 for a chea price of less than a dollar.
But it didn’t stay that way. As the crypto market went nuts later in the year, POWR went along with it and it hit an all time of $2.01.
It has a total supply of a billion tokens today, out of which about more than a half is under circulation.
Rest of the 40% is held by the founders and 25% is set aside for premined rewards and airdrops.
Usage and Utility
Tokens are used to purchase Sparkz, which are used by the application hosts to facilitate energy transactions within the platform.
POWR tokens are useful for more than just earning Sparkz.
They let you access the platform, give you loyalty rewards, let you support charities and organizations, and get you priority spots in Asset Germination Events.
As such, the token acts as a bridge, connecting users, applications, and the blockchain in a decentralized and direct manner.
The goal of POWR is to make sure everyone involved in its ecosystem gets reward for their hardwork.
This includes people who build the apps, join in and use the platform. There will likely be more demand for the tokens as more people use it.
How to Acquire and Storing POWR
Powerledger is a cool project that lets people trade renewable energy with each other using blockchain technology.
The team behind it wants to make it easy for people to get involved, so they’ve set up a way for you to buy and trade their POWR token.
Acquiring POWR
POWR tokens can be purchased on several cryptocurrency exchanges such as Binance and Gate.io, supporting various pairings including fiat and crypto options.
Here’s a step-by-step guide on how to acquire POWR:
- Compare exchanges. There are a bunch of different exchanges where you can buy POWR, like Binance, Huobi, or Kraken. Take a look at the list of exchanges where the token is available and pick the one that works best for you.
- Create an account. Once you;ve picked an exchange, sign up for an account. You’ll need to verify your email and maybe provide some proof of national identification. Rest assured, it’s pretty straightforward.
- Fund your account. To buy POWR, you’ll need to deposit some cash or cryptocurrency into your exchange account. Most exchanges accept credit cards, debit cards, bank transfers, or even cryptos like Bitcoin (BTC). Choose the method that works best for you and make a deposit into your account.
- Buy POWR. That is the last step. Now that your account is funded, it’s time to buy some POWR. Just follow the exchange’s instructions to play your order and voila! You’re part of the Powerledger community.
That’s it! The whole process should only take about 10 minutes or so.
Storing POWR
Once you’ve purchased your POWR token, you may either hold it in your account or save it in your personal cryptocurrency wallet.
For additional passive income, you can trade it for other tokens on the same exchange.
Before trading any crypto asset, it is strongly advised to do proper research.
Otherwise, it may lead to a hundred percent loss of investment.
As ERC-20 tokens, POWR can be stored in any compatible wallet with ERC-20 support, including both hardware wallets like Ledger Nano and software wallets like MetaMask.
MetaMask Wallet supports millions of assets and blockchains.
Conclusion
Powerledger strives to work for a more sustainable future by revolutionizing electricity markets. Its roadmap is not without ups and downs, however.
Future Potential
Powerledger aims to enhance renewable energy adoption and improve the efficiency of power distribution networks, potentially transforming the energy sector with its innovative use of blockchain technology.
The whitepaper of the platform mentions future plans of improved performance in the coming future.
This means that Powerledger blockchain will become superfast with sub-second confirmation times and the ability to handle tons of transactions per second.
It also plans to reduce transaction costs so that it is easier for developers and users to hold in their wallets.
Other future plans include easier scalability and developer friendly tools. That means Powerledger has much future potential.
The blockchain business is booming, with an estimated annual growth rate of 77%.
Powerledger is already making waves with its various offerings to cash in on this trend, like letting people trade carbon credits in EAC trading.
The team behind the project is completely transparent, and they’ve got a ton of experience in energy, sustainability, blockchain, and trading.
Challenges and Considerations
Making Powerledger a success means overcoming some challenges.
The main ones are getting people to use the technology in different markets, and getting regulators to approve decentralized energy trading.
Each region has its own set of rules and energy market structures, which can make it hard for Powerledger to navigate.
The success of Powerledger depends on further adoption across various markets and regulatory approval for energy trading, which varies by region.
To get people to trust the project, Powerledger needs to convince them that it’s reliable, safe, and cost-effective.
Showing them the benefits of engaging in energy trading is a big part of that.
It also needs to figure out how to work with current energy infrastructure and make sure it can handle more transactions as it grows.
We Coin-Labs.com provides only objective information about Powerledger (POWR).
Therefore, we are not responsible for the investment decision in Powerledger (POWR) and the resulting loss.
Powerledger (POWR) Basics
Here are some factors that investors should consider before investing in Powerledger (POWR).
| Cryptocurrency Features | Powerledger (POWR) () |
|---|---|
| Publisher or Developers | |
| Headquarters (Registration Number) | |
| Symbol | |
| Platform | |
| Published Date (CMC Registration) | 2024-10-02 |
| Max Supply | 958,691,258,152,859 |
Reliability Score of Powerledger (POWR) in 2024
These are indexes mesuring the investment reliability of Powerledger (POWR) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 0 Exchanges |
| Number of Available Pairs Worldwide | 1 Pairs |
| Market Cap of the Cryptocurrency | 6,683,329 USD (Rank #1295) |
The table above shows the result of investment suitability evaluation for Powerledger (POWR).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Powerledger (POWR) Price
Here are the price and recent trading volume of Powerledger (POWR). (Data of 2024-10-03 00:15:00)
| Price Items | Price and Trading Volume of Powerledger (POWR) |
|---|---|
| Powerledger (POWR) Price | 0.000 USD |
| Price Change 24h | -5.48% |
| Price Change 7d | -4.99% |
| Trading Volume 24h | 11 USD |
| Trading Volume Change 24h | -82.47% |
Cryptocurrency Metadata
You can check the development status and social media information of Powerledger (POWR) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Powerledger (POWR)
Here are the top ten world crypto exchanges where traders can buy Powerledger (POWR) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Powerledger (POWR)?
Powerledger (POWR) price today is 0.000 USD. Furthermore, the price of Powerledger (POWR) has fluctuated by -5.48% from 24 hours ago, and by -4.99% from a week ago.
Where is Powerledger (POWR) listed?
Currently, it is listed on a total of 0 among the world top 10 exchanges.
What is the market cap of Powerledger (POWR) now?
Currently, Powerledger (POWR) has a market cap of 6,683,329 USD, which is ranking 1295 among cryptocurrencies worldwide.
How much is the trade volume of Powerledger (POWR)?
Currently, 0 coins are circulating through 1 market pairs. As a result, in the last 24 hours, 11 USD of coins were traded in the market.
