Power Ledger update: POWR Live price, price chart, news and markets

The POWR price update as of now is $0.09048. In the previous 24 hours, its trading volume was $2,952,284, and its value has decreased by -3.41%. As of now, POWR's live market cap is $48,191,493, and it is ranked as the #452 on the Coincu. POWR has a circulating supply of 1,000,000,000 and a maximum supply of 1,000,000,000.

The Power of Power Ledger (POWR)

Power Ledger, a revolutionary blockchain platform, aims to transform the global energy industry by enabling local communities to sell and distribute solar energy directly to their neighbors. By eliminating intermediaries, Power Ledger empowers individuals and promotes a decentralized energy ecosystem.

Imagine a world where reliance on large corporations and foreign resources for energy is a thing of the past. Thanks to Power Ledger's decentralized applications, this vision is becoming a reality.

Solving Energy Industry Challenges

Power Ledger addresses several issues inherent in traditional energy supply companies:

• Users often pay exorbitant prices to energy supply companies in monopolistic markets.
• Companies buy surplus energy from users at low prices and resell it at a significant markup.
• Power Ledger provides a solution by allowing users to freely buy and sell excess energy. Users can sell their surplus energy directly to those in need at higher prices compared to selling to monopolistic companies.
• All transactions on the Power Ledger platform are executed on the blockchain, eliminating intermediaries and transaction fees. As a result, buyers can acquire energy at a more affordable price.

The Inner Workings of Power Ledger

Power Ledger operates through a Dual-token mechanism, consisting of Sparkz and POWR. Understanding the roles of these tokens is crucial to grasping the platform's functionality.

POWR

The POWR token grants users access to the application server, enabling them to utilize the Power Ledger platform. Without the necessary number of POWR tokens, access to the platform's server is restricted. Within the system, POWR tokens are traded and locked in escrow through Ethereum's smart exchange. Users can also convert POWR tokens into Sparkz tokens for various Power Ledger services.

After the application server returns Sparkz tokens to the platform, the locked POWR tokens are released and refunded to the users.

Sparkz

Sparkz tokens can be obtained by redeeming POWR tokens. This stablecoin is used to purchase energy on the Power Ledger platform.

The total supply of Sparkz is not fixed; instead, they are created and destroyed on demand. The price of Sparkz is pegged to the fiat currency of the host country. For example, in Australia, one Sparkz is equivalent to one AUD.

In essence, Sparkz represents the intrinsic cost of one unit of electricity and can be interchanged accordingly.

For instance, if 1 kilowatt-hour of energy costs 20 AUD in Australia, the buyer's wallet will be debited with 20 Sparkz. In some countries, users can link their bank accounts to the platform, with the fiat money stored in an escrow account and used for trading. Energy sellers receive Sparkz tokens in return.

The Buying and Selling Process on Power Ledger

Energy Sellers:

• Sellers with excess energy can offer it to those in need at better prices than traditional companies. Upon selling, they receive Sparkz tokens.
• They can convert Sparkz tokens into fiat currency (e.g., AUD, USD) through designated websites.

Energy Buyers:

• Buyers acquire POWR tokens from exchanges.
• POWR tokens are then converted into Sparkz tokens.
• Sparkz tokens are used to purchase energy from sellers.
• Buyers can utilize the purchased energy or sell it if no longer needed.

Roadmap ahead

Stay tuned for future updates...