13 Feb WePower vs. Power Ledger: who will win the future for renewable energy?
WePower’s recent ICO created a lot of hype because WePower $WPR also plans to use blockchain to innovate the way we consume energy. The project team boasts a revolutionary token model supported by existing partnerships with energy companies and governments/regulators, targeting a market over $1 trillion USD.
The tokenization of the energy industry has been one of the many hyped topics in the crypto world lately, mainly due to Power Ledger’s meteoric rise in Q4 2017. Since listing on Binance in early December, $POWR is up nearly 10x in less than 10 weeks.
How is WePower different than Power Ledger?
The key differences, summarized:
Power Ledger is providing a peer-to-peer trading platform for people to sell their excess renewable energy, which lowers costs for energy buyers. The $POWR token also allows people to buy equity in future renewable energy assets such as power plants or wind farms.
WePower is a platform that will assist in crowdfunding for renewable energy assets by allowing energy producers to sell future energy for lower prices.
The capital raised from the sale of future renewable energy will be used to fund the construction of the energy producing asset. Whoever buys the discounted energy can use it to trade it on the WePower platform or consume the discounted energy once the asset has been constructed and is producing power.
Which is a better project?
As you can see, both projects are innovating the ways renewable energy assets can be funded, as well as the way the energy produced by these assets are consumed. Energy markets are a solid use case for blockchain technology, and both Power Ledger and WePower are providing decentralized solutions that can compete with cheaper “dirty energy” markets. In fact, one of WePower’s marketing slogans is “The world runs on dirty energy. Let’s change this.”
It’s too early in the development of both of these projects to call which one is better, but they both have strong teams and roadmaps that are winning the support of the crypto community.
What about price gains?
Considering that Power Ledger has already been established on top crypto exchanges such as Binance and Kucoin with a current market cap of nearly $300M USD, it’s safe to say that WePower $WPR has much higher potential in terms of price gains in 2018.
Wepower is currently only trading on IDEX and Huobi, and within 10% of the ICO price at the time of writing this article.
After initially listing only on IDEX (a decentralized ethereum exchange with small volume), WePower’s price quickly shot up very high to over 3X the ICO price, where many investors dumped and took profits as the current market conditions in crypto are quite Bearish, down over 50% from all-time-highs set in December 2017.
After listing on Huobi, a much larger exchange than IDEX, more investors took profits and WePower has found what appears to be solid support around the 0.00013 ETH level.
In USD terms, this is about 10% cheaper than WePower’s price at the time of the ICO. If you believe in WePower’s project and team, and more importantly DYOR (DO YOUR OWN RESEARCH), it’s a great time to get involved.
Check out both projects and decide for yourself. This is not financial advice 🙂