Categories: Press Releases

Powerledger completes integration with Solana, accelerating the pace of innovation in sustainability

Zug, Switzerland, October 13th, 2024, Chainwire

Powerledger (POWR) has officially completed its integration with the Solana ecosystem, accelerating the pace of innovation in the global sustainability markets. This move combines Solana’s cutting-edge blockchain technology with Powerledger’s proven energy and environmental commodities trading and energy tracking solutions, setting the stage for faster, more efficient, and cost-effective clean energy solutions worldwide.

On October 1, 2024, Powerledger began the deprecation of its own blockchain, marking a transition for the POWR token across both Ethereum and Solana. This dual-chain approach unlocks potential for the tokenisation, trading, and tracking of renewable energy assets, including excess clean energy, renewable energy certificates (RECs) and carbon credits (CCs), while driving global environmental accountability. Powerledger’s proprietary energy solutions are now transitioned to Solana mainnet. 

“With our new Solana POWR token, we’re excited to leverage Solana’s network, this allows for lower fees and faster processing, aligning with our vision to make clean energy more efficient and accessible for all,” said John Bulich, Co-founder & Director, Powerledger. 

Solana POWR: Speed, efficiency, and sustainability in action.

This integration enables Powerledger’s platform to scale faster, support high-volume energy and environmental commodities transactions, and contribute to a more efficient and decentralised energy future for global sustainability efforts. This integration with Solana mainnet offers, 

  • POWR token availability: The POWR token is now available on both Ethereum and Solana, with no changes to the total token supply. Token swap mechanism ensures that for every POWR token minted on Solana, an equivalent amount is locked on Ethereum, preserving the integrity of the tokenomics and preventing inflation. 
  • Enhanced flexibility and interoperability: The dual-chain approach ensures that POWR remains accessible to users who prefer Ethereum, while also leveraging Solana’s powerful infrastructure and vibrant community to drive new sustainability solutions and collaboration.
  • POWR as a payment token: POWR will continue to serve as a payment token for platform services across both Ethereum and Solana, incentivising green behaviours 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 technology. 

Powerledger (POWR) is set to play a pivotal role in enabling the tokenisation and trading of renewable energy assets, helping businesses meet their sustainability goals while making energy markets more transparent and accessible for all. 

About Powerledger

Powerledger is a Web3 company that creates pioneering solutions that solve pressing energy challenges, enabling access to cheaper and cleaner electricity and transparent environmental trading marketplace. Founded in 2016, Powerledger is known for being Australia’s first and most successful ICO. Powerledger has previously experimented with Bitcoin and Ethereum forks before transitioning to a hard fork on Solana last year. Now, headquartered in Zug, Powerledger is recognised as one of the top 50 companies in Crypto Valley, Switzerland. 

For more information, please visit https://www.powerledger.io/

YouTube: https://youtu.be/DR-AQIyk9V0?si=dJf-H_SttyQkpbBm

Contact

Snehal Pawar
Powerledger
pr@powerledger.io

chainwire

Recent Posts

Highly Anticipated Spot Solana ETFs Will Be Approved in 2025

Industry experts predict spot Solana ETFs may gain approval by late 2025, buoyed by a…

6 hours ago

Cantor Fitzgerald Will Acquire 5% Ownership Interest in Tether

Wall Street financial services giant Cantor Fitzgerald is all set to purchase a 5% stake…

6 hours ago

XRP Price Hits $1 Following Rumors Of Trump Meeting With Ripples CEO, What To Expect Next

The XRP price recently surpassed $1 after rumors sparked about Donald Trump meeting its CEO;…

7 hours ago

Navigating November’s Crypto Trends: What Makes Qubetics, Monero, and Celestia Stand Out?

Discover why Qubetics, Monero, and Celestia are among the best cryptos to buy in November…

10 hours ago

Best Altcoins to Buy Now: Qubetics Set For Weekly 10% Rise and Polygon Banks on Whale Activity Amid Avalanche Token Release

Discover the best altcoins to buy now: Qubetics soars with a weekly 10% rise, Polygon…

14 hours ago

💥 100x Potential Unlocked! Discover This Cheap Altcoin With Massive Bullish Momentum!

As Bitcoin climbs to new record highs, investors are eyeing affordable altcoins with the potential…

17 hours ago

This website uses cookies.