Reading: SolarCoin – BitcoinWiki
SolarCoin ( § ; SLR ) is a multibillion dollar climate change inaugural and renewable energy cryptocurrency designed to incentivize a planet powered largely by solar energy. To this end, the project is on a mission to build the foundation for a global energy transition by awarding SolarCoins to solar energy producers, creating the first ball-shaped, energy-referenced currentness. [ 1 ]
The issue of SolarCoin has been designed to last forty years, delivering incentives for generating 97,500 TWh of solar electricity. With a total market provide of more than US $ 40 billion to be distributed over the future 35 years, the currentness places in the peak ten-spot cryptocurrencies behind Bitcoin, Ethereum and Ripple. [ 2 ] [ 3 ]
Each mint issued to renewable-energy producers represents an calculate carbon paper offset equivalent of 680 kilograms of carbon dioxide. [ 4 ] To go steady, the project has granted more than 12 TWh of solar power across 71 countries—the equivalent energy consumed by 12 million US households in a month—well over enough to exponent the city of Amsterdam and its residents for a full year. [ 5 ]
SolarCoin is backed by two forms of proof of oeuvre. One is the traditional cryptanalytic validation of workplace associated with digital currency. The other proof of function is a third-party verified meter reading representing 1 MWh of generate solar electricity. SolarCoin is equitably distributed using both of these proofs of sour as a intend to reward solar electricity production .
Counting more than seven million real-time solar monitor stations in fifty-six countries around the globe—estimated by UN projections to grow to more than 200M over the following decade—the program has been recognized by the United Nations and the International Renewable Energy Agency ( IRENA ) as the lowest carbon currentness, the largest environmental monitor experiment, and the largest individual renewable energy project in the earth. [ 6 ] [ 7 ]
SpaceBelt, orbital cloud storage
SkyGold: SolarCoin in space : SolarCoin in space The project has been covered extensively by international press in thirty countries, with more than 100 featured publications in sources such as Forbes : “ How Blockchain is Incentivizing a 5,000 Gigawatt Quest to Save the Planet. ” [ 8 ]
Differences with Bitcoin
SolarCoin is not a substitution for Bitcoin. It is a complementary color currency using blockchain technology implemented to incentivize global Solar electricity genesis.
Read more: How to Make Money as a Coin Collector
* Fork from LiteCoin source code * Hash algorithm: Scrypt * §98.34 billion * SolarCoin mining is 50x more energy efficient than Bitcoin
SolarCoin was distributed to a large total of investors through Proof-of-work organization ( PoW ) until September 2014. Since then, the Proof-of-Stake-Time ( PoST ) has been used because it is far less energy intensive. The passage from PoW to PoST is accompanied by an increase in the scarcity of money, frankincense, in the long term, increase its price. SolarCoin mining is now only via the production of solar energy .
Generators of solar energy may receive SolarCoin grants. SolarCoin grants are made at the rate of 15 % of Nameplate Capacity. The annual calculation is 365 days adam 24 hour ten 15 % X Your KW Nameplate Capacity. This works out to 1.314 X the install KW Nameplate Capacity. The initial SolarCoin grant is ex post facto to the install date of the adeptness or Jan 1, 2010 ; whichever is more recent. Ongoing SLR grants are made every 6 months based the facility install calendar month .
The first official recipient of a SolarCoin solar electricity generator accord was Lisa Shock, an Arizona resident .
The future development of a robust economy in low-Earth scope ( LEO ) and beyond calls for a currency capable of supporting both ground-to-orbit and orbit-to-orbit transactions. SolarCoin presents an ideal campaigner through both its ball-shaped humanist mission and external footprint in congruity with the virtually inexhaustible abundance of solar energy in scope .
– Christopher Altman ,
Cofounder and Chief Scientist
In September 2016 SolarCoin partnered with Cloud Constellation, a space-based datum storage caller scheduled to launch a net of data storage satellites to provide high-speed ball-shaped cloud memory satellites as a space-based data center designed for the procure transfer and storehouse of sensitive information. The organization will store its blockchain vault on the satellites for space-based deep cold storage coincident with live transactions, making it the “ first orbital currency. ” In September 2017 Cloud Constellation entered into an agreement with Virgin Orbit through its LauncherOne program to deploy twelve of its cloud constellation satellites to low-Earth orb. Satellite deployment has been scheduled for 2018 .
SolarCoin has been formally recognized by the International Renewable Energy Agency ( IRENA ), establishing it as the world ‘s beginning cryptocurrency to be recognized by an international intergovernmental constitution .
See besides on BitcoinWiki
Read more: How to Make Money as a Coin Collector