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Buy Power Ledger (POWR) India – BuyBitcoin

Buy Power Ledger (POWR) India BuyBitcoin
Written by bccblog

What is Power Ledger (POWR)?

Power Ledger enables peer-to-peer energy trading. If your house has solar panels, their platform lets you sell your excess energy to your neighbours, and get paid as soon as your power hits their home. You won’t have to deal with billing them every 60 days like a traditional energy company — chances are, you’ll have no idea who the buyer even is. Hello, passive income. Buy Power Ledger (POWR) India with BuyBitcoin.

Buy Power Ledger (POWR) India - BuyBitcoin

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Token System

There’s a dual token system in place for Power Ledger, similar to that of Factom:

1. POWR Tokens: Serves as the fuel of the Ecosystem. In order to participate in the platform, you need POWR to generate Sparkz

2. Sparkz Tokens: Represents the value of a unit of energy and will be pegged to the domestic currency (i.e. Aussie Dollars). Sparkz is the currency that will be used for transactions within the Ecosystem.

How Does Power Ledger Ecosystem Work? 

The Power Ledger Platform operates on two blockchain layers and uses two coins: The Power Ledger Token (POWR) and Sparkz. POWR and Sparkz are both used with the system and have different functions on both blockchains. (Power Ledger uses the public Ethereum blockchain as well as a private consortium blockchain).

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Power Ledger Token

Power Ledger Tokens allow Application Hosts and Participants access to use the platform. If an Application Host does not have a sufficient number of POWR, it will not be able to access the platform. In the system, POWR will be traded and put into escrow via an Ethereum Smart Bond exchange for Sparkz.

Once an Application Host has escrowed enough of its Power Ledger Tokens, it can no longer transact on the platform until it obtains a sufficient number of  POWR to provide access. After an Application Host returns Sparkz to the platform, the Ethereum Smart Bond will be unlocked. Then, previously escrowed POWR will be returned to the Application Host.

Sparkz

Sparkz is purchased and redeemed using fiat currencies within individual trading platforms that have closed-loop exchanges for energy and Sparkz. Sparkz tokens are used by the Application Host to onboard its customers. Essentially, Customers pay money for Sparkz, which are then used to trade for electricity.

Click here to know what determines the value of the cryptocurrency

How Does PowerLedger Use Blockchain Technology?

The key part of PowerLedger that sets it apart from other energy-related applications is its use of blockchain technology. Because of the blockchain, PowerLedger can track every single unit of electricity. This tracking begins when it is generated and goes until it is either sold to another consumer via the local area’s electricity distribution network or used.

In addition to tracking the energy itself, the blockchain technology also tracks the financial aspects of it, allowing for simplicity and security for those making use of renewable energy. All energy traded using the distribution network will be tracked, giving DNSPs a secure revenue stream. This also lets those who own renewable energy assets to set their price and choose whom they sell to.

Buy Power Ledger (POWR) India

BuyBitcoin will soon add PowerLedger (POWR) cryptocurrency to the platform. Keep visiting for updates.

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