New York, Sunday, October 20, 2024 – Powerledger (POWR) has completed its integration with the Solana blockchain, marking a major advancement in global sustainability efforts.
This integration combines Powerledger’s expertise in energy and environmental commodities trading with Solana’s advanced blockchain technology, paving the way for more efficient and scalable clean energy solutions worldwide.
As of October 1, 2024, Powerledger transitioned its POWR token to a dual-chain setup, operating across both Ethereum and Solana.
This shift enables seamless tokenization, trading, and tracking of renewable energy assets such as renewable energy certificates (RECs), carbon credits (CCs), and excess clean energy. The integration promises to reduce transaction costs and increase processing speeds, making clean energy solutions more accessible.
John Bulich, Co-founder and Director of Powerledger, highlighted the significance of the move: “With our new Solana POWR token, we’re excited to leverage Solana’s network for lower fees and faster processing, aligning with our vision to make clean energy more efficient and accessible for all.”
The POWR token, now available on both Ethereum and Solana, maintains its original token supply through a swap mechanism. This ensures that for every POWR token minted on Solana, an equivalent is locked on Ethereum, safeguarding the tokenomics and preventing inflation.
Powerledger’s energy platform also leverages Solana’s infrastructure, supporting high-volume transactions while advancing global sustainability initiatives.
Powerledger continues to serve as a key player in tokenizing and trading renewable energy assets, making energy markets more transparent and helping businesses meet their sustainability goals. Founded in 2016, Powerledger is headquartered in Zug, Switzerland, and remains one of the top 50 companies in Crypto Valley.
For more information, visit https://www.powerledger.io
