Power Ledger – uses blockchain technology to democratize energy. The Blockchain forms a network through which sustainable and cheap electricity is to be transmitted. In particular, it should help small energy suppliers to bring their electricity under the man without the need for middlemen.
Power Ledger Token and Bitcoin Profit
The Blockchain forms a peer-to-peer platform on which buyers and sellers of electricity can trade directly with each other. A decentralized and global marketplace for energy is to be created. The platform also makes it possible to sell excess electricity from a household, Bitcoin Profit for example Bitcoin Profit through solar panels on the roof. Due to the elimination of middlemen and various large companies, the costs for the purchased electricity are also reduced.
The development aims in particular to supply sustainable electricity. The cost-effective sale of peer-to-peer makes it attractive to generate and sell electricity using solar cells. Even private individuals can become electricity traders. The developers hope that this will increase the demand for solar cells and lower the prices of photovoltaic systems.
There are several power ledger blockchains, POWR for short, and also two tokens: The token allows users to access the platform. This also applies to electricity providers. In order for the application host to access the platform, it must store POWR on the block chain. POWR is also used to acquire energy assets. Then there is the second token: Sparkz. This represents the traded energy and corresponds to the Fiat currencies with which the electricity is traded. Sparkz is used to purchase electricity.
As I said, POWR runs over several block groves. EcoChain is the private blockchain of developers, which uses proof-of-stake for consensus building. The platform now also runs on Ethereum, once publicly and once consortium-based. Here, too, the developers want to switch to proof-of-stake as soon as Casper is stable. For mining, only the tokens must be held in the Power Ledger Wallet.
The power ledger token has an upper limit of 1,000,000,000, and the price of a POWR depends entirely on the exchanges. As with most other crypto currencies, the token has no fixed price. The Sparkz Token has no upper limit. Sparkz are created when they are needed and destroyed when they are taken back. The price of Sparkz is linked to the price of Fiat currencies and to the price of a country’s electricity. This should keep the price quite stable. A separate blockchain will be created for each Fiat currency so that multiple currencies around the world will be able to participate in the platform.
Power Ledger – Who is behind the crypto currency?
The team behind the crypto currency has already gained experience in the area of block chains and the electricity market. The company has a total of five founders. Bill Tai, to name one, is a world-renowned risk investor with a degree from Harvard. He is the Chairman of Treasure Data, a member of the Bitfury and Boxer board of directors, and a board member of several companies he founded as startups. John Bulich leads the technical team and also oversees the company’s strategic decisions. He is also one of the founders of Ledger Assets, a leading Australian block chain development company.
The ICO was a complete success for the company. The developers envisaged that no single major investors could benefit from the ICO alone by spending $25,000. Instead, it was available to a broad public. Within three days the presale was sold out with 190,000,000 tokens. The remaining 160,000,000 tokens were sold to the ICO. In total, the company earned 34 million Australian dollars. At the same time, the company was supported by the Australian government and received an additional 8 million.