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Power Ledger to Move to Solana From Ethereum
The firm cited higher speed and scalability as motivations for the shift.
Australia-based blockchain company Power Ledger is to migrate to Solana from Ethereum in search of higher speed and scalability.
STORY CONTINUES BELOW
- The firm also cited the lower energy output of Solana's Proof-of-History (POH) and Proof-of-Stake (POS) mechanisms in an announcement Monday.
- The Power Ledger Energy Blockchain is built to audit and streamline the buying and selling of renewable energy.
- "The Power Ledger technology stack was built on a low-power POS consortium in 2016 before transitioning to a modified fee-less Proof-of-Authority Ethereum consortium chain in 2017," co-founder John Bulich said.
- "That serves its purpose in the short term but the limitations of this solution were always very apparent, including low transactions per minute," he added.
- The platform's POWR tokens will still be used for existing clients and remain on the Ethereum network.
Read more: Aussie Beer Can Now Be Exchanged for Excess Solar in New Program Involving Blockchain
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
