Powerledger integrates with Solana for faster, more efficient clean energy solutions

From Investing.com

October 13, 2024 04:30:35 AM:

Powerledger (POWR) completes integration with Solana, marking the transition of the POWR token across Ethereum and Solana. This move aims to accelerate innovation in the global sustainability markets by offering faster, more efficient, and cost-effective clean energy solutions worldwide. The integration allows for tokenisation, trading, and tracking of renewable energy assets.

With the new Solana POWR token, Powerledger leverages Solana’s network for lower fees and faster processing, aligning with the vision to make clean energy more efficient and accessible. The integration enables Powerledger’s platform to scale faster, support high-volume transactions, and contribute to a more decentralized energy future for global sustainability efforts.

The POWR token is now available on both Ethereum and Solana, maintaining the total token supply. A token swap mechanism ensures equivalent amounts are locked on Ethereum for every token minted on Solana, preserving tokenomics integrity and preventing inflation. POWR will continue to serve as a payment token for platform services across both chains, incentivizing green behaviors.

Powerledger, a Web3 company founded in 2016, is recognized for creating innovative solutions to energy challenges. The company transitioned to a hard fork on Solana last year and is headquartered in Zug, Switzerland. Powerledger aims to enable tokenization and trading of renewable energy assets, helping businesses meet sustainability goals and making energy markets more transparent and accessible.

Read more at Investing.com: Powerledger completes integration with Solana, accelerating the pace of innovation in sustainability By Chainwire