Originally posted on 21stFinance.com
Note: Always stress caution and proper money management when it comes to cryptocurrency investing. Only invest what you are willing to lose.
Blockchain technology and massive price gains within the cryptocurrency market are one of the biggest financial topics in the United States. The meteoric rise of bitcoin and altcoins has led to billions of investment dollars to move over to the cryptocurrency space. While many investors place their money down in the hopes of receiving 1000% returns, these same people are generally unaware of what the purpose and business goals of the given cryptocurrency are. The massive price gains in cryptocurrency are regarded as speculative, and many of these coins are speculative for good reason.
One of the biggest examples of these investments is a coin called Dogecoin, Taking it’s name from the popular internet meme, Dogecoin has risen significantly over the last year,seeing a market cap as high as $750 million! While this growth is mostly seen as positive news, the developer of Dogecoin hasn’t released a software update to the platform in nearly two years; himself noting that this growth is unrealistic! While understanding the fundamentals of the cryptocurrency market are important, many investors must stress caution to the volatility that takes place in speculation type investing.
One coin, on the other hand, is harnessing the true potential of blockchain technology. Power Ledger (POWR) is an Australian based startup company, focused on changing the way consumers see renewable energy sources. Power Ledger is a blockchain based platform that uses peer-to-peer trading to exchange excess renewable energy sources. Renewable energy providers, such as utility companies, can use the platform to exchange their surplus energy to those in communities who may need the extra power.
Started in 2016 by Dr. Jemma Green, the goal of Power Ledger is to address the energy crisis that is facing our world today. By creating blockchain based applications, the company can trade energy in many different facets of life. The platform allows for the trade of energy ranging from commercial real estate, multifamily and residential properties, down to even electric and hybrid vehicles. This energy trading platform has continued to grow since its inception in 2016, and the team is constantly working on developing new applications and software that will work towards their overall goal.
Power Ledger has seen strong growth since its ICO release, reaching as high as $2.12 per coin. Further growth potential is coming with additional software updates and application development.
When it comes to finding cryptocurrencies that have real-world, long term potential, look no further than power ledger, a company that is making the correct steps to creating a reliable and long term business model.
For more information about Power Ledger, check out their website and follow their Twitter page for the latest updates.