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

Zug, Switzerland, October thirteenth, 2024, Chainwire

Powerledger (POWR) has formally accomplished its integration with the ecosystem, accelerating the tempo of innovation within the international sustainability markets. This transfer combines Solana’s cutting-edge blockchain know-how with Powerledger’s confirmed power and environmental commodities buying and selling and power monitoring options, setting the stage for sooner, extra environment friendly, and cost-effective clear power options worldwide.

On October 1, 2024, Powerledger started the deprecation of its personal blockchain, marking a transition for the POWR token throughout each and Solana. This dual-chain strategy unlocks potential for the tokenisation, buying and selling, and monitoring of renewable power property, together with extra clear power, renewable power certificates (RECs) and carbon credit (CCs), whereas driving international environmental accountability. Powerledger’s proprietary power options are actually transitioned to Solana mainnet.

“With our new Solana POWR token, we’re excited to leverage Solana’s community, this enables for decrease charges and sooner processing, aligning with our imaginative and prescient to make clear power extra environment friendly and accessible for all,” stated John Bulich, Co-founder & Director, Powerledger.

Solana POWR: Velocity, effectivity, and sustainability in motion.

This integration permits Powerledger’s platform to scale sooner, assist high-volume power and environmental commodities transactions, and contribute to a extra environment friendly and decentralised power future for international sustainability efforts. This integration with Solana mainnet gives,

• POWR token availability: The POWR token is now out there on each Ethereum and Solana, with no modifications to the entire token provide. Token swap mechanism ensures that for each POWR token minted on Solana, an equal quantity is locked on Ethereum, preserving the integrity of the tokenomics and stopping inflation.
• Enhanced flexibility and interoperability: The twin-chain strategy ensures that POWR stays accessible to customers preferring Ethereum, whereas additionally leveraging Solana’s highly effective infrastructure and vibrant neighborhood to drive new sustainability options and collaboration.
• POWR as a fee token: POWR will proceed to function a fee token for platform companies throughout each Ethereum and Solana, incentivising inexperienced behaviours similar to offsetting carbon emissions and lowering power consumption. Powerledger additionally accomplished the mixing of its personal power platform with Solana, leveraging Solana’s newest instruments and know-how.

Powerledger (POWR) is about to play a pivotal function in enabling the tokenisation and buying and selling of renewable power property, serving to companies meet their sustainability targets whereas making power markets extra clear and accessible for all.

About Powerledger

Powerledger is a Web3 firm that creates pioneering options that clear up urgent power challenges, enabling entry to cheaper and cleaner electrical energy and clear environmental buying and selling market. Based in 2016, Powerledger is understood for being Australia’s first and most profitable ICO. Powerledger has beforehand experimented with and Ethereum forks earlier than transitioning to a tough fork on Solana final yr. Now, headquartered in Zug, Powerledger is recognised as one of many prime 50 firms in Crypto Valley, Switzerland.

For extra info, please go to https://www.powerledger.io/

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

ContactSnehal PawarPowerledgerpr@powerledger.io

This text was initially revealed on Chainwire