Power Ledger POWR to Nexus NXS Exchange

Crypto Pair Details: POWR to NXS

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.

Nexus NXS

Nexus is the first truly quantum-resistant blockchain, incorporating advanced cryptography designed to negate the threat posed by quantum technology of the future. The 3DC combines 571-bit private keys, 1024-bit Skein and Keccak quantum-resistant hashing algorithms, and an evolving signature scheme called signature chains. Signature chains update the private and public keys that secure your address and obscures them after each and every transaction, maintaining the integrity and security of your account even on mobile wallets. Signature chains offer several advantages over equivalent quantum-resistant schemes such as BLISS and Lamport signatures, being extremely compact and lightweight, making it ideal for blockchain applications. The Nexus coin (NXS) is the currency of the network. There’s no cap on the amount of NXS that will be minted. Instead, the coin has a 10-year distribution period in which 78 million NXS will be distributed until September 23rd, 2024. After this time, the supply will inflate each year by a maximum of 3% through the holding channel and 1% through the prime and hashing channels. Nodes create blocks, on average, every 50 seconds, and an NXS transaction requires 6 confirmations. Currently, most transactions cost 0.01 NXS. However, once the 3DC is built and 10-year distribution is complete, transaction fees will disappear. Instead, the system will absorb the fees through inflation. Nexus didn’t hold an ICO. Instead, the project has a Developer Fund that takes a small commission from mining rewards. This commission starts at 1.5% and increases to 2.5% over 10 years. Additionally, 20% of the block rewards are slotted for marketing as well as the production and launch of the Nexus satellite network. Colin Cantrell, also known as Videlicet, is the founder and lead developer of Nexus. He first named the project Coinshield (CSD) when starting in September 2014. The original code only contained the prime channel; the team added the hash channel in October 2014. In April 2015, the team rebranded to Nexus, and they added Proof-of-Holdings in July 2015. Besides partnering with Vector on the satellite network, Nexus has also joined forces with SingularityNET to provide their 3DC architecture to the project’s decentralized AI network. Moving forward, Nexus is releasing major updates following their TAO (Tritium, Amine, Obsidian) roadmap strategy. The releases include the 3DC, mobile wallets, quantum resistance, and the satellite network, among many other things. The creation of new NXS is capped at 3 percent per year and is earned through securing the network by mining or staking. The platform is developed and maintained by the Nexus Embassy who is funded through a 1.5% commission on each block produced and from funds acquired through early mining of NXS. The commission will also gradually increase from 1.5 – 2% over the next 10 years.

SOURCE: COINGECKO

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