With dozens of new cryptocurrency and blockchain projects coming out weekly, investors often find it tough to pick out the wheat from the chaff. One project however, is waves in the investment community, Australian start-up Power Ledger and it’s taking the world by storm!
For other blockchain projects with real world applications, check out our article on Banking & the Blockchain.
At its core, the focus is providing lower cost energy and better returns on energy for citizen investors, whilst providing powerful incentives to prioritize the adoption of renewable clean energy.
What is Power Ledger
Power Ledger is a blockchain-based peer-to-peer energy trading platform enabling consumers and businesses to sell their surplus solar power to their neighbours without a middleman. To do this, Power Ledger will create an Energy Marketplace where each unit of electricity is tracked from the point it is generated to it’s consumption. This will allow renewable energy asset owners to decide who they want to sell their surplus energy to and at what price.
What gives POWR token value?
POWR is the protocol token and the means by which value is transferred in the Power Ledger ecosystem. POWR is an ERC20 token, meaning it is built on the Ethereum blockchain protocol which governs how the token is stored and shared.
The POWR token is the core currency and is required to generate Sparkz tokens (a secondary ecosystem token) which are used to sell and purchase electricity. POWR’s value is derived from the usage of the Power Ledger ecosystem.
Where & How to buy Power Ledger
The easiest and simplilest way to buy and store ERC20 tokens like Power Ledger is through a managed wallet like Coinspot. Managed wallets allow you to purchase cryptocurrencies directly with fiat dollars and then store your tokens with-in their wallet. If you decide to open your own wallet, you are free to transfer your tokens out whenever you please. Managed wallets also make it simple to sell your token and convert back into fiat dollars.
Crypto exchanges offer an intermediary options for more advanced traders. Exchanges such as Bittrex & Binance allow customers to set buy and sell orders for token, very similar to the real world stock market. Most exchanges offer trading pairs in Bitcoin and Ethereum, meaning you will need to purchase these before trading into Power Ledger tokens.
Decentralized Exchanges – Advanced Users Only
As POWR is a ERC20 token built on the Ethereum network, it can be stored attached to an Ethereum address. A decentralized exchange is a place where people can import their Ethereum wallets via their private key and offer to buy and sell directly with other users without a centralized coordinator. The only decentralized exchange listing POWR currently is EtherDelta