BitBay BAY to Power Ledger POWR Exchange

Crypto Pair Details: BAY to POWR

BitBay BAY

BitBay is a free, decentralized marketplace for buying and selling goods and services on the blockchain. You can connect directly with peers and transact without the need for a middleman like Amazon, eBay, or Craigslist. Transactions are secure and anonymous. They’re also guaranteed by escrow. The project aims to be the new standard for eCommerce, allowing individuals to trade one-to-one at scale. As a result, BitBay claims it will revolutionize global trade. It’s seemingly a great solution for other niche applications as well, where groups of people aren’t served by existing marketplaces. In the beginning, BitBay got off to a rocky start. In 2014, the original founders raised capital in bad faith and quickly abandoned the project after fundraising, leaving the lead developer holding the bag. It seemed like BitBay was finished, but the developer continued working on the project out of a sense of duty to the original investors, without access to the capital raised in the fundraising round. The BAY token is the transactional token in the marketplace. You use it to buy and sell, and it can also participate in freezes, escrow, bets, swaps, etc. The token itself operates like Bitcoin and is secured by the network. Although you can use BAY for transactions, you don’t have to. You do, however, have to use BAY if you’d like to take part in token staking. BAY’s price cratered after the original founders left and stayed low until March 2017 when it took off. It has been through several cycles of bull and bear runs, with a max price over 30 cents in January 2018 before retreating to its current value. BitBay supports all kinds of privacy and security measures. It’s easy to create a multisignature wallet for added security. There are integrations for Tor and other proxies that help anonymize your connection to the marketplace. An on-screen keyboard allows for password or key entry without using your keyboard and being susceptible to keylogging. Additionally, you can create images with your private key embedded, so that finding a stored key is more difficult for a hacker. The marketplace also has functionality for time locking contracts and swapping currencies. This enables all kinds of cross-chain transactions and financial implements. The time lock and other smart contract elements make it possible to create bets, escrow, futures and options trades, or any number of other financial transactions. The idea and implementation by BitBay, of a decentralized marketplace and trading platform is brilliant and shows further promise of expansion.The rocky beginning of the cryptocurrency and its subsequent comeback as a promising platform indicate that the developers are in it for the long haul and don’t plan on abandoning the platform after all these years.

Power Ledger POWR

Power Ledger (POWR) is an Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. The platform provides consumers with access to a variety of energy markets around the globe and is meant to be scalable to various energy infrastructures and regulations. The market is based on a dual-token ecosystem operating on two blockchain layers, POWR and Sparkz. POWR tokens allow consumers and hosts providing energy to interface with the ecosystem and are protected through Smart Bond technology. POWR tokens can be converted into Sparkz tokens, which can be used for frictionless transactions in the energy exchange market. The initial coin offering for POWR tokens became the largest crowd funding project in Australia and the 14th highest in the world. Power Ledger’s team has immense expertise in both blockchain and electricity markets. They’re comprised of six Board of Directors in addition to over ten full time-team members. Power Leger’s five co-founders make up five of the six Board of Director seats of the company. The sixth board seat belongs to venture capitalist Bill Tai. Receiving his MBA from Harvard, Yai is a world-renowned venture capitalist. Tai’s experience is quite extensive; he is currently the Chairman of Treasure Data and also a Board Member of Bitfury and Boxer. Power Ledger’s POWR Presale sold out in just three days and raised over thirteen million dollars (AUD) in exchange for 190,000,000 tokens. After the presale, Power Ledger held an ICO to sell the remaining 160,000,000 POWR tokens allocated to Token Generation Event. After both rounds, funds raised totaled thirty-four million dollars (AUD). In addition to money raised from its presale and ICO, the Australian Government also awarded Power ledger a grant for 8 million dollars (AUD) to develop its technology and concept further. (Australia has one of the highest costs of electricity in the world and thus has a large stake in the overall success the company). Power Ledger provides a blockchain-based marketplace that can truly change the world. Taking power away from large energy companies, Power Ledger gives local communities the ability to sell their excess solar power to neighbors. Power Ledger has created an energy distribution and tracking platform that allows consumers buy carbonless, sustainable energy at lower prices than what’s offered by traditional electric companies. Power Ledger has plans to expand its operations to three continents worldwide and has amassed an army of powerful strategic partners to help achieve its goals. With the planned release of multiple applications for its platform in the immediate future, the project has positioned itself to disrupt multiple energy markets throughout the world creating a bright future for all participants involved in this green revolution.

SOURCE: COINGECKO

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