Find out how it works and what to expect from Power Ledger.
Power Ledger is a blockchain energy trader, in which you use cryptocurrency tokens called POWR to indirectly buy energy and provide other opportunities.
You can buy, sell, trade or invest POWR tokens much like any other cryptocurrency.
This guide explains where and how to buy POWR as well as how it all works and what exactly you’re buying into.
Where to buy Power Ledger POWR tokens
You can find POWR tokens at the following exchanges in the Philippines:
|Where to buy POWR||How it works||More information|
|Binance||Create an account on Binance to trade bitcoin for POWR tokens.||Learn more|
|Bittrex||Create an account on Bittrex to trade bitcoin for POWR tokens.||Learn more|
Before buying, you need a wallet that can support POWR. Any Ethereum compatible ERC20 cryptocurrency wallet should work.
Power Ledger’s initial coin offering allowed people to buy POWR directly from Power Ledger. This ICO put 350,000,000 POWR tokens into circulation, which you can buy and sell in a few select places.
How does Power Ledger work?
|Icon||Symbol||Initial release date||Algorithm type||Max. supply|
|POWR||September 8, 2017||Proof-of-work||1 billion POWR|
Power Ledger lets anyone easily trade energy. It ties together energy producers, ranging from homeowners with solar panels to large companies with multiple power plants, and lets them buy and sell energy without going through a middleman.
It aims to offer a greener and more competitively priced energy market with complete transparency and reliability at every level that’s immediately adaptable for any market in the world.
This ambitious plan is made possible by Power Ledger operating across two different blockchains, each of which has its own tokens and functions.
The “outer layer” is the Ethereum blockchain, while the “inner layer” is the EcoChain.
- The Ethereum blockchain. This is the public Ethereum blockchain on which users can buy, sell, use and trade POWR tokens. By holding POWR tokens, users can access the EcoChain.
- The EcoChain. This is a private consortium blockchain designed, built and operated by Power Ledger. It uses Sparkz tokens and is designed to be exceptionally energy efficient and to directly interface with home and business energy facilities, for example, by automatically reading your meter at regular intervals and monitoring energy use.
The Ethereum blockchain layer is the same all over the world, while the EcoChain layer can be scaled for individual areas to work with different local regulations, to meet different consumer needs and to function anywhere.
The connections and functions between these layers are operated with Ethereum smart contracts. This provides a secure environment for the following:
- Exchanging POWR and Sparkz tokens.
- Managing the Power Ledger loyalty and rewards programs as well as offering green energy incentives.
- Holding to-be-released POWR tokens and other funds in escrow.
- Handling the security and trust measures of the program.
You can purchase Sparkz tokens with local fiat currencies. You can then use these Sparkz tokens to purchase energy through the EcoChain blockchain at costs that vary based on supply and demand in each area. Sparkz tokens are destroyed in these transactions.
Different groups might move in different circles on the EcoChain. For example, you might have a single apartment complex distributing energy from the building’s rooftop solar panels among each other, and then selling any surplus on the open market and distributing the earnings evenly among all tenants.
Or, you might have a large energy company selling to the general public on the EcoChain.
The idea is that smaller and greener providers will be prioritized on the Power Ledger marketplace before the larger ones, with the effect of gradually decentralizing energy supply and promoting renewables.
What you get when buying POWR tokens
POWR tokens are used by providers who want to put their services on the EcoChain. Their POWR tokens are held in escrow for a corresponding amount of Sparkz tokens.
But you don’t necessarily need to be a provider to benefit from ongoing dividends as a POWR owner. Power Ledger’s “autonomous asset management” system means POWR owners can put up POWR tokens for another service provider in order to earn a cut of the profits.
This can all be managed transparently and automatically through the blockchain.
The current Power Ledger POWR supply cap is set at 1 billion, while 350 million were released into circulation with the initial coin offering.
Currently, those 350 million are the ones being bought and sold. The remainder will be released over time, with an emphasis on incentivizing the development of green energy.
Importantly, having POWR tokens in a deregulated market will give you access to upcoming “asset germination events.” These are events where POWR holders will receive priority to become owners and co-owners of energy assets, such as photovoltaic systems, and to receive a cut of the revenue generated by them.