This is my first Random Alt-Coin review. For this series of posts, I plan to periodically do a quick dive on one of the less know alt-coins. I will pick the random alt-coin from CoinGecko's list of coins in the market cap rank of 101-200 on CoinGecko and using my trusty percentile dice dice. Today's roll was 77, which added to 100, gives me 177. Checking CoinGecko gives me my random alt-coin of the day.
Power Ledger
(Source: Screen snip from Power Ledger website)
(Source: Screen snip from CoinGecko website)
What is Power Ledger?
From their (website)
The operating system for new energy markets, Power Ledger is a blockchain enabled software platform for trading renewable energy and environmental commodities.
Wow. I got a good one for my first random alt coin. Digging into their website I can see that Power Ledger is an unique coin. Essentially they are using blockchain technology to power the smart grid of tomorrow. They are providing software solutions to help renewable energy producers to buy and sell excess. As a not-so-closeted tree hugger, it is pretty cool to see blockchain technology helping solve energy problems.
(Source: Screen snip from Power Ledger website)
Market Report
(Source: Screen snip from CoinGecko website)
(I wrote this last night while LeoFinance was down so the numbers a bit off now)
Power Ledger comes in at the 177th highest market cap coin on CoinGecko list of cryptocurrencies with a $50 million market cap. Despite its relatively low market capacity, the most recent trading volume was over $8 million. The day has been a good one for Power Ledger as it is up over 20%, and Power Ledger is up nearly 140% for the year.
Discussion
Power Ledger is filling an interesting niche in the energy market, and attempting to use blockchain technology to make, validate, and document micro- device driven energy trading. Renewable energy producers and storage providers may find their software solutions a valuable tool in maximizing return on investment.
As a cryptocurrency to invest in for growth, I'm less excited. Infrastructure is certainly necessary but rarely sexy. I don't see what the driving forces are that would cause the coin to become more valuable over time. And so like they say in the Shark Tank, I'm out.
What do you think about Power Ledger? Drop a note in the comments, I want to hear from you!
