Zug, Switzerland, October 13, 2024, Chainwire
Powerledger (POWR) has officially completed its integration with the Solana ecosystem, accelerating the pace of innovation in global sustainability markets. The move combines Solana’s cutting-edge blockchain technology with Powerledger’s proven energy and environmental commodity trading and energy tracking solutions, paving the way for faster, more efficient and more cost-effective clean energy solutions. all over the world.
On October 1, 2024, Powerledger began depreciating its own blockchain, marking a transition for the POWR token on Ethereum and Solana. This dual-chain approach unlocks the potential to tokenize, exchange and track renewable energy assets, including clean energy surpluses, renewable energy certificates (RECs) and carbon credits (CCs), while promoting global environmental responsibility. Powerledger’s proprietary energy solutions are now migrated to the Solana mainnet.
“With our new Solana POWR token, we are excited to leverage Solana’s network, this enables lower fees and faster processing, which aligns with our vision of making clean energy more efficient and accessible to everyone” , said John Bulich, co-founder and Director, Powerledger.
Solana POWR: Speed, efficiency and sustainability in action.
This integration allows the Powerledger platform to scale faster, support high-volume transactions in energy and environmental products, and contribute to a more efficient and decentralized energy future for global sustainability efforts. This integration with the Solana main network offers,
- Availability of POWR tokens: The POWR token is now available on Ethereum and Solana, with no changes to the total token supply. The token swap mechanism ensures that for every POWR token issued on Solana, an equivalent amount is locked on Ethereum, thus preserving the integrity of tokenomics and preventing inflation.
- Improved flexibility and interoperability: The dual-chain approach ensures that POWR remains accessible to users who prefer Ethereum, while leveraging Solana’s powerful infrastructure and vibrant community to generate new sustainable solutions and collaborations.
- POWR as a payment token: POWR will continue to serve as a payment token for platform services on Ethereum and Solana, encouraging green behaviors such as offsetting carbon emissions and reducing energy consumption. Powerledger also completed the integration of its own energy platform with Solana, leveraging Solana’s latest tools and technologies.
Powerledger (POWR) is set to play a pivotal role in enabling the tokenization and trading of renewable energy assets, helping businesses achieve their sustainability goals while making energy markets more transparent and accessible to all.
About Powerledger
Powerledger is a Web3 company that creates pioneering solutions that solve pressing energy challenges, enabling access to cheaper, cleaner electricity and a transparent environmental trade market. Founded in 2016, Powerledger is known for being Australia’s first and most successful ICO. Powerledger previously experimented with Bitcoin and Ethereum forks before moving to a hard fork on Solana last year. Today, headquartered in Zug, Powerledger is recognized as one of the 50 largest companies in Crypto Valley, Switzerland.
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Snehal Pawar
Powerledger
pr@powerledger.io
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