Last weekend, Solana Breakpoint 2024 brought together innovators, developers, and thought leaders from the Solana ecosystem, all united by a shared passion for pushing the boundaries of blockchain technology. Powerledger was thrilled to participate at Breakpoint 2024 in Singapore to explore the latest advancements and share our vision for a sustainable and decentralised future. The event provided a platform to delve into groundbreaking developments in DeFi, cross-chain interoperability, scalability, and client and SVM tooling improvements—all crucial areas that align with Powerledger’s mission.

Key Highlights from Solana Breakpoint 2024

• Firedancer Demonstration: Solana showcased Firedancer’s ability to process 1 million transactions per second (TPS) on just 100 nodes, setting a new benchmark for blockchain scalability and performance. Firedancer’s early deployment on the mainnet points at a quicker integration than anticipated.
• Global State Machine: Another major highlight is emphasis on the need for a global state machine to reduce delays, mitigate Maximal Extractable Value (MEV), and minimise monetary losses from inefficient pricing, shaping a more efficient financial system.
• Leadership in Cross-Chain Technology: Solana is emerging as a leader in facilitating cross-chain swaps and aggregation due to its speed and low costs. Numerous projects demonstrated live cross-chain and multi-chain bridging solutions. This underscores  Solana’s growing role in cross-chain interoperability.
• Solana emerges as the preferred blockchain for financial institutions: This Breakpoint witnessed presence of representatives from major financial institutions, pointing at their growing interest in Solana’s blockchain technology:
  – Citi Bank is actively exploring ways to leverage Solana’s technology, indicating a significant interest from major financial institutions in blockchain solutions.
  – Franklin Templeton plans to launch a money market fund on Solana. As stated by the Solana Foundation, Franklin Templeton is set to be the first asset manager to issue securities on the Solana blockchain.
  – Société Générale is expanding its Euro-denominated stablecoin to the Solana network.
  – PayPal‘s head of payments, Jose Fernandez da Ponte, stated, ‘Crypto is too big for us to ignore.’

Powerledger’s Announcement

On Day 2 of Breakpoint, Dr. Jemma Green took the stage to announce Powerledger’s  expansion to the Solana (SOL) mainnet ecosystem. This decision aims to further leverage Powerledger’s expertise in the energy and sustainability software and to drive Solana to the forefront of Regenerative Finance (ReFi).

• Faster innovation: Powerledger can now broaden its reach for its solutions across major marketplaces, tapping into Solana’s vast and diverse audience and ecosystem.
• Access to the vibrant Solana community: Expanding onto Solana mainnet enables Powerledger to connect with Solana’s active ReFI and sustainability communities and unlocks new opportunities for collaboration with immediate and positive impact.
• Championing ReFi and sustainability: Powerledger aligns with Solana’s core principles of transparency, continuous improvement, and innovation, reinforcing our shared commitment to a sustainable future.

“At the core of both Solana and Powerledger is a commitment to empowering people. Powerledger’s vision is to enable ordinary citizens to actively participate in the energy transition and make clean energy accessible for everyone. This aligns seamlessly with Solana’s goal of making blockchain accessible to everyone. This shared focus on people and innovation will drive meaningful progress and create new opportunities for all,” says Dr. Jemma Green, Co-founder & Chairman, Powerledger.
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‍Check the full announcement here.

What’s Next for Powerledger

Building on insights from Breakpoint 2024, Powerledger plans to:

• Publish a New Lightpaper: Introducing an updated vision and technological advancements.
• Issue POWR on Solana: Launching Powerledger’s token within the Solana ecosystem.
• Create a Liquidity Pool for POWR/SOL: Enhancing token accessibility and fostering a robust trading environment.
• Migrate Products to Solana: Leveraging Solana’s scalability and efficiency to improve product performance.

Breakpoint 2024 was packed with innovation, insights and inspiration. Powerledger remains committed to pushing the boundaries of what’s possible in blockchain energy solutions and is excited to join the broader Solana ecosystem to accelerate the pace of innovation in sustainability.

Join us as we lead the way toward a more sustainable future. Follow us on Twitter, LinkedIn, and Facebook to stay updated on our latest developments.