Australia-based blockchain company Power Ledger is to migrate to Solana from Ethereum in search of higher speed and scalability.
- The firm also cited the lower energy output of Solana's Proof-of-History (POH) and Proof-of-Stake (POS) mechanisms in an announcement Monday.
- The Power Ledger Energy Blockchain is built to audit and streamline the buying and selling of renewable energy.
- "The Power Ledger technology stack was built on a low-power POS consortium in 2016 before transitioning to a modified fee-less Proof-of-Authority Ethereum consortium chain in 2017," co-founder John Bulich said.
- "That serves its purpose in the short term but the limitations of this solution were always very apparent, including low transactions per minute," he added.
- The platform's POWR tokens will still be used for existing clients and remain on the Ethereum network.