In a groundbreaking announcement at Breakpoint 2024 in Singapore, Powerledger revealed its expansion onto Solana Mainnet, marking a significant leap forward in the intersection of blockchain technology and sustainable energy solutions.

Summary

Powerledger, a pioneer in peer-to-peer electricity trading, has announced its expansion onto Solana Mainnet. This move comes after two years of utilizing a forked version of Solana for their products, demonstrating the company's commitment to leveraging cutting-edge blockchain technology for sustainable energy solutions.

The expansion includes several key developments, such as the publication of a light paper detailing technical aspects, the introduction of the Power Token on Solana, and the migration of Powerledger's products to Solana Mainnet. This strategic move not only enhances Powerledger's capabilities but also strengthens the Solana ecosystem, particularly in the realm of DePIN (Decentralized Physical Infrastructure Networks) projects.

Powerledger's integration with Solana Mainnet opens up new possibilities for interoperability within the ecosystem. It enables seamless connections with other applications and projects, potentially allowing validators to track energy usage or purchase offsets efficiently. This development aligns with the Solana Foundation's goal of making both the ecosystem and the protocol as environmentally friendly as possible.

Key Points:

Powerledger's Background and Achievements

Powerledger, established in May 2016, has been at the forefront of peer-to-peer electricity trading. The company develops software for electricity utilities, enabling them to create innovative products that empower customers to take control of their energy future. Their solutions extend to tracking and trading electricity and emissions, facilitating corporate reporting and offset procurement.

With a proven track record of delivering over 30 projects across 10 countries, Powerledger has earned the trust of major brands in the energy sector. Their success and innovation have been recognized, leading to their inclusion in the top 50 companies of Crypto Valley in Zug, Switzerland, where their head office is now based.

Expansion to Solana Mainnet

Powerledger's decision to expand onto Solana Mainnet marks a significant milestone in their blockchain journey. After successfully using a forked version of Solana for two years, the company recognized the benefits of migrating their products to the Mainnet. This move allows Powerledger to become a more integral part of the Solana ecosystem while leveraging its advanced technology.

The expansion process involves several key steps. Powerledger will publish a light paper detailing the technical aspects of the migration. They will also introduce the Power Token, an ERC-20 token, to the Solana network. A portion of the existing tokens will be locked, with an equivalent amount issued on Solana. To ensure liquidity, Powerledger will set up a Liquidity Pool in Raydium, enabling users to buy and sell Power Tokens on Solana easily.

Benefits for Powerledger and Solana Ecosystem

The integration of Powerledger into Solana Mainnet offers mutual benefits. As a DePIN project, Powerledger connects real-world assets to Web3, aligning with the growing trend of bridging physical infrastructure with blockchain technology. This integration enhances the Solana ecosystem's capabilities in the sustainable energy sector.

Furthermore, the move supports Solana Foundation's commitment to environmental sustainability. Powerledger's products on Mainnet will enable seamless interactions within the ecosystem, allowing projects like validators to track energy usage or purchase offsets efficiently. This interoperability extends to digital assets like carbon credits, which can be used for their primary purpose and in DeFi pools, adding versatility to the ecosystem.

Facts + Figures

• Powerledger was established in May 2016
• The company has delivered over 30 projects in 10 countries
• Powerledger is named among the top 50 companies of Crypto Valley in Zug, Switzerland
• The company forked Solana two years ago and has been using the technology for its products since then
• Powerledger is migrating its products from its own blockchain to Solana Mainnet
• A portion of the existing ERC-20 Power Tokens will be locked, with an equivalent amount issued on Solana
• Powerledger will set up a Liquidity Pool in Raydium for Power Tokens on Solana
• The company is a founding member of the DePIN association
• Powerledger is offering a limited edition NFT that qualifies holders for a Power Token airdrop on Solana

Top quotes

1. "Power Register is expanding onto Solana Mainnet today."
2. "We had forked Solana two years ago. So we've been using the technology for our products since then and we've really seen the benefits for us and our clients."
3. "We're a DePIN project and we know we've been working in DePIN before that was actually a technical term."
4. "Powerledger is about making software for democratization of power and sustainable energy for all."
5. "We're really excited to be expanding onto Solana mainnet and being part of and contributing to the ecosystem with you all."

Questions Answered

What is Powerledger?

Powerledger is a company that pioneered peer-to-peer trading of electricity. Established in May 2016, they develop software for electricity utilities to create new products that empower customers to take control of their energy future. Powerledger also provides solutions for tracking and trading electricity and emissions, as well as a marketplace for environmental attribute certificates like renewable energy certificates and carbon credits.

Why is Powerledger expanding to Solana Mainnet?

Powerledger is expanding to Solana Mainnet after successfully using a forked version of Solana for two years. This move allows them to leverage Solana's advanced technology more fully and become a more integral part of the Solana ecosystem. The expansion enables greater interoperability with other projects and applications within the Solana network, particularly in the realm of sustainable energy and DePIN initiatives.

How will Powerledger's expansion to Solana Mainnet benefit the Solana ecosystem?

Powerledger's expansion to Solana Mainnet will enhance the ecosystem's capabilities in sustainable energy solutions. It allows for seamless interactions between Powerledger's products and other projects on Solana, such as enabling validators to track energy usage or purchase offsets easily. Additionally, it supports the Solana Foundation's goal of making both the ecosystem and the protocol more environmentally friendly.

What changes will happen to the Power Token?

The Power Token, currently an ERC-20 token, will be introduced to the Solana network. A portion of the existing tokens will be locked, and an equivalent amount will be issued on Solana. Powerledger will also set up a Liquidity Pool in Raydium, allowing users to buy and sell Power Tokens on Solana easily.

What is DePIN, and how does Powerledger relate to it?

DePIN stands for Decentralized Physical Infrastructure Networks, which involves connecting real-world assets to Web3. Powerledger is a DePIN project, working on bridging physical energy infrastructure with blockchain technology. As a founding member of the DePIN association, Powerledger is at the forefront of this emerging field, contributing to the growth of the DePIN community within the Solana ecosystem.