Powerledger Integrates with Solana, Accelerating the Pace of Innovation in Sustainability

Eugene Makarenko -

Zug, Switzerland, October 13th, 2024, Chainwire

Powerledger (POWR) has officially completed its integration with the Solana ecosystem, accelerating 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, cost-effective clean energy solutions worldwide.

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

On October 1, 2024, Powerledger began deprecating its blockchain, marking a transition for the POWR token across Ethereum and Solana. This dual-chain approach unlocks the potential for tokenizing, trading, and tracking 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 of 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 decentralized energy future for global sustainability efforts. This integration with Solana mainnet offers, 

  • POWR token availability: The POWR token is now available on Ethereum and Solana, with no changes to the total token supply. The 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 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 Ethereum and Solana, incentivizing green behaviors such as offsetting carbon emissions and reducing energy consumption.

Powerledger (POWR) is set to play a pivotal role in enabling the tokenization and trading of renewable energy assets. This will help businesses meet sustainability goals while making energy markets more transparent and accessible. 

About Powerledger

Powerledger is a Web3 company that creates pioneering solutions to pressing energy challenges. These solutions enable cheaper, cleaner electricity access and a 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 recognized as one of the top 50 companies in Crypto Valley, Switzerland. 

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

Contact

Snehal Pawar, Powerledger, pr@powerledger.io