Powerledger sees blockchain as something akin to barcodes in supermarkets. Barcodes and scanners don’t define what a supermarket is, but they allow supermarkets to operate at high volumes and low margins. A permissioned based blockchain allows Powerledger to build and scale energy projects across the globe, processing 50,000+ transactions per second. This scalable technology is fast, transparent and secure. Powerledger's blockchain technology facilitates secure trading and mitigates settlement risk, whilst also providing an immutable and verifiable audit trail.
As Powerledger continues to scale-up, we have built a blockchain that consumes less energy. The Powerledger Energy Blockchain is a customised permissioned Solana blockchain. The Solana design is both faster and less energy intensive than the existing proof-of-work blockchains, as it utilises Proof-of-History and Proof-of-Stake (PoS) consensus mechanisms. Solana’s PoS design means that Validators need to be invited by Powerledger and only those accepted by Powerledger can participate. We also consider the provenance of energy used by each Validator, including the renewable energy sources.
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