Stakin Becomes a Validator on Powerledger


Jun 22, 2022

2 min read

Stakin Becomes a Validator on Powerledger

We are excited to announce that Stakin is now part of the Powerledger validator set, and will contribute to develop and support the blockchain’s ecosystem. Powerledger is a Solana-based permissioned blockchain platform that allows for (P2P) energy tracking and trading, as well as environmental commodity trading. Because it is based on Solana, Powerledger scales up to 50,000+ transactions per second, with very little energy consumption. The chain aims to lead the global democratization of energy by offering a distributed system for renewables. It allows users to fulfill their sustainability targets, whilst tracking, tracing and trading renewable energy.

As of June 10th, 2022, staking on the new Powerledger blockchain is now possible. POWR is staked by 'locking up' the ERC-20 POWR token in an Ethereum contract. POWR tokens are then issued to the delegated stakers' account on the Powerledger Energy Blockchain. The Ethereum contract stores the link between the Ethereum chain account and the Powerledger chain account. The native Powerledger tokens are staked using a program similar to Solana's. The maximum number of POWR tokens staked on each node is 5 million.

POWR is the native token of the Powerledger platform, an operating system for new energy markets. The asset is required to participate in the Powerledger platform and helps secure its various products, including energy trading, clean energy tracking, and verification. Moreover, it acts as a license for businesses, such as energy utilities, companies committed to 100% renewable energy, and property developers to access Powerledger’s platform. Finally, POWR token acts as a derivative for the underlying renewable energy supply on the Powerledger ecosystem.

Stakin, as a trusted and experienced validator for many other projects such as Solana, on which the Powerledger blockchain is based, is delighted to support Powerledger as a validator. We look forward to further expanding the ecosystem and promoting the solutions offered.

About Stakin

Stakin is an infrastructure operator for Proof-of-Stake (PoS) public blockchains, offering noncustodial delegation services. The company enables PoS cryptocurrency holders to earn interests on their holdings and participate in decentralized governance while remaining in possession of their cryptocurrencies.

Stakin serves institutional crypto players, foundations, custodians, and exchanges, as well as a large community of individual token holders. Driven by demand from institutional customers and the community, Stakin provides services for multiple blockchains, including leading ecosystems such as Ethereum, Cosmos, Solana, Polygon, Polkadot, and more.

For more information about Stakin, visit the Website, Twitter, Blog, or join the Telegram and Discord community.

About Powerledger

Powerledger is the world-first blockchain-enabled energy trading platform and a software and technology company that is working towards making renewable energy work in a more stable way by having more responsive markets. Formed in 2016 when they saw the need to disrupt traditional energy, the company now has projects in twelve countries, across five continents.
For more information about Powerledger, visit their website, Twitter, or Telegram.

DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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