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Ever since Bitcoin’s launch in 2009, blockchain technology has often been accused of being an energy-hungry environmental disaster. While these accusations were often overblown and deliberately sensationalist, Bitcoin’s block validation model — proof of work (PoW) — is indeed a massive consumer of energy. Newer blockchains based on the more energy-efficient proof of stake (PoS) system have reduced the industry footprint significantly. However, one project — Powerledger — has truly moved environmental efficiency gains to a new level, thanks to its focus on renewable energy sources.
Key Takeaways:
Powerledger is a blockchain platform that facilitates the flexible trade, management and provenance tracking of sustainable energy from sources like solar, wind and hydrogen.
Its blockchain is a permissioned network based on the Solana blockchain.
Powerledger is the crypto industry’s largest sustainable energy-focused project by market cap.
Powerledger (POWR), previously branded as the Power Ledger platform, is a blockchain that facilitates the management and trade of sustainably sourced energy. Poised at the forefront of blockchain-based green energy solutions, Powerledger provides significant impact toward reducing the environmental footprint of blockchain technology.