Powerledger Completes Solana Integration, Ceases SVM Blockchain Operations

IconCryptoNewsTerminal Staff21 Sep, 2024

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Powerledger Completes Solana Integration, Ceases SVM Blockchain Operations

Powerledger (POWR) has integrated with the Solana mainnet ecosystem, and as part of this move, will discontinue operations of its own Solana virtual machine (SVM) blockchain, Cointelegraph reports. The POWR token will remain an ERC-20 token but will also be available as a native SPL token on Solana. This integration will allow Powerledger to leverage Solana's high speed and low transaction costs, making it more efficient for users to interact with the Powerledger platform. It will also open up the Powerledger ecosystem to a wider range of developers and users, as Solana is one of the most popular blockchains in the world. The decision to discontinue the SVM blockchain was made after careful consideration, and Powerledger believes that integrating with Solana is the best way to achieve its long-term goals. The POWR token will continue to be used to power the Powerledger platform, and users will be able to seamlessly migrate their tokens to the Solana blockchain.

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