Australia-based blockchain firm Power Ledger is shifting to Solana from Ethereum in search of upper speed and scalability.
The firm also outlined that the lower energy output of Solana’s POH [Proof-of-History] and POS [Proof-of-Stake] mechanisms within an official announcement earlier today on Monday.
The Powerledger Energy Blockchain is made to audit and streamlines the purchasing and selling of renewable energy.
“The Power Ledger technology stack was built on a low-power POS consortium earlier in 2016 prior to transitioning to a modified fee-less Proof-of-Authority Ethereum consortium chain later in 2017,” Co-Founder John Bulich added.
“That serves its purpose within the short term but the restrictions of this solution were always very apparent, along with low transactions per minute.”
The platform’s POWR tokens will still be used for existing clients and will remain on the Ethereum network.