search icon
      blog search icon

      PowerLedger – Gaining traction amidst climate change - Stocks Telegraph

      By Muskan

      Published on

      January 3, 2022

      12:10 PM UTC

      PowerLedger – Gaining traction amidst climate change - Stocks Telegraph

      PowerLedger has surged upwards by a staggering 48% during the past twenty-four hours alone while the weekly performance shows an increase of more than 70%. The cryptocurrency has been largely bearish during the month of December; however, the recent price movements indicate a reversal of the trend as POWR token surged upwards. At the time of writing, the cryptocurrency stands at a price level of $0.79. The daily trading volume has recorded a phenomenal surge of 2,700%. The cryptocurrency currently stands at a market rank of #166. The current technicals indicate the sustenance of the bullish momentum for PowerLedger but the upcoming days will reveal things with more certainty. 

      What problem is PowerLedger solving?

      Climate change has become a reality for the masses as the increase in global temperatures has led to an increase in natural calamities. On top of this, the rise of the popularity of blockchain technology has added to the problem as blockchains are energy extensive and cause a lot of carbon emissions. PowerLedger is a unique blockchain that is trying to solve the energy crisis that the world has been delved into. 

      The platform is building blockchain-based software for decentralized energy markets in order to promote sustainability. PowerLedger has built a platform that enables tracking and trading of energy services and environmental commodities but in a completely decentralized manner. Carbon markets are a good way to control the impending energy crisis but the implementation of blockchain technology ensures that the markets run more efficiently. 

      Recent updates 

      The year 2021 has been filled with major developments for the cryptocurrency market including PowerLedger. Australia began its first-ever carbon-neutral apartment complex – Montreal Commons – in Fremantle in December. Amongst the 39 apartments, 70% were recorded to be sold off already. The apartment complex is being powered by PowerLedger’s technology to enable carbon neutrality and will produce 240 tonnes less carbon emissions than a traditional apartment complex.  

      The network has also been invited to the Global Blockchain Business Council event at Davos held on 17th January 2022. The international representative of the platform will be talking about the importance of carbon neutrality and PowerLedger’s role in it. Moreover, the platform has been selected as a nominee in the World Summit Awards Australia for a peer-to-peer project that was implemented in Uttar Pradesh, India, along with India Smart Grid Forum. 

      More From Stocks telegraph