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Bittime - Powerledger (POWR) is a blockchain that facilitates trading, management, and tracking of the origins of energy sourced from renewable sources such as sun, wind, and hydrogen. Powerledger is one of the blockchain projects that focuses on green energy solutions and contributes to reducing the environmental impact of blockchain technology.
Powerledger was founded in 2016 in Perth, Australia by Dr. Jemma Green, a sustainable energy scientist, and John Bulich, a software development professional focused on blockchain solutions.
Powerledger was originally based on EcoChain, an Ethereum-based permission chain. A permission chain is a closed blockchain network that can only be accessed by authorized parties. EcoChain uses Ethereum's underlying technology but has its own protected network.
In 2021, Powerledger switched from Ethereum to Solana (SOL) by launching a Solana-based permission chain called Powerledger Energy Blockchain, which was later upgraded with staking functionality in early June 2022. Powerledger is the largest sustainable energy project in the crypto industry, with first place in market capitalization ranking under CoinMarketCap's Energy category.
What is the Purpose of Powerledger?
Powerledger is a major player in the field of blockchain-based sustainability solutions. The project aims to democratize access to clean energy and make the energy market as economical and flexible as possible.
Using the Powerledger product suite, individuals and businesses can conduct peer-to-peer (P2P) solar energy trading, flexibly and efficiently manage the stability and distribution of energy loads, trace the origin of clean energy sources, and more.
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How Does Powerledger Work?
Powerledger uses the POWR token as the native cryptocurrency of its platform. The POWR token has several main functions and purposes in the ecosystem, namely:
Incentive
The POWR token is used to incentivize various participants in the Powerledger platform. Producers, who provide their energy resources for trading, are rewarded with POWR tokens for their contributions. This reward mechanism encourages the provision of clean energy to the platform, which is essential for green energy solutions.
Staking
To participate in the platform as a producer and earn rewards, participants must deposit POWR tokens. Staking serves as a form of collateral or “skin in the game,” which helps ensure that producers are motivated to act in the best interests of the platform. It also helps secure the platform by making it expensive for participants to act maliciously.
Governance
POWR tokens can be used in the governance of the Powerledger platform. Token holders may have the ability to propose changes, vote on protocol updates, or participate in other decision-making processes that impact the platform. This is in line with the decentralized ethos of blockchain technology, where control is distributed among stakeholders rather than centralized in a single authority.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Powerledger (POWR) Price Prediction 2024
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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