The news is that the biggest Power Ledger is switching from the cryptocurrency Ethereum to Solana for its blockchain protection. And when we talk about customer security Staking will be available to all POWR token holders, according to the release. In this article, we will tell you everything you need to know about Power Ledger migration from Ehereum to Solana.
The Australian company Solana claims that it is faster than most of the cryptocurrencies previously and can handle more transactions faster and at a single time.
Power Ledger migration
If you are someone who likes to keep yourself updated with all the crypto news you might have heard big news today. Power ledger announced something today that can change the price of your favourite crypto. This could be the same as the big dump in bitcoin price. The company announced that it will be moving its transaction from ETH to SOL. We should tell you that Solana is an energy trading company from Australia. The reason to do that is two things. The first one is that Solana can handle more transactions than ETH. It is faster than the first one and can work faster.
Reason behind migration
Another reason is that the current one is more energy-intensive. And the authorities at Solan are saying that they are less energy-intensive and can work using Proof-of-History instead of Proof of work. Now let’s see what the people behind Power Ledger migration have to say about it.
Technical director and co-founder of Power Ledger John Bulich in a press conference mentioned a few things. He told that before that the company was built on low power consumption technique and was handled by an eco chain in 2016. Later in 2017 ETH came and took the job 2017.
One of the main reasons for the firm’s decision to switch to Solana is the scalability it gets through POH, according to the company. It does it by using POH as a transmit electrical. This allows for high throughput of over 50,000 transactions per second and short block durations of just 400 milliseconds. There’s also no need for layer 2 or sharding. POWR now has a new use case in addition to its current ones, according to the firm. It will benefit the project’s community by allowing for delegated staking on the new Power Ledger Electricity Blockchain. To run the nodes and verify transactions, users will need some technical skills.
Tell us what do you think will be the long time effect on ETH of Power Ledger migration.
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