SolarCoin
 | |
| SolarCoin | |
| The renewable energy currency for climate change and beyond | |
| Symbol: | SLR, § |
| Purpose: | Solar energy incentiveClimate change mitigation
Environmental monitoring Distributed blockchain Internet of Things |
| Founded: | January 2014 |
| Users: | International |
| Inflation: | 2% annual |
| Grants issued: | 9 Million MWh solar energy in 64 countries (July 2018) |
| Key people: | Christopher AltmanNick GogertyLuke JohnsonFrançois SonnetJoe Zitoli |
| Affiliates: | ElectriCChain, Medicis, Lemma, SolarLux, SolarView, SMAP Energy, Watt for Watt, SolarGain, Alesia Communications, Sollab, SolarValue, Japan SolarCoin Association, Solcrypto, EarthSpace, GoParity, The Sun Exchange, Magnefico, Solo Energy, Ainova Inc |
| Websites\: | solarcoin.orgelectricchain.org |
SolarCoin (**§** ; **SLR**) is a cryptocurrency launched in January 2014 and implemented to incentivize global solar electricity generation. The initiative was launched with the mission of accelerating our transition to a post-scarcity economy by encouraging solar energy to initiate the energy singularity—the transition from fossil fuels to a sustainable, renewable energy: based economy.
Our mission in founding SolarCoin and ElectriCChain—to accelerate our societal transition from petroleum-dependent, war-scourged, scarcity economics to a renewable energy based, peaceful, post-scarcity economy—is now shared with Elon Musk.
Cofounder and Chief Scientist
The supply of SolarCoin is designed to last 40 years delivering incentives for generating 97,500 TWh of solar electricity As a reward for renewable solar energy, SolarCoin is earned at the rate of 1 § (SLR) per MWh, with 97,500 terawatt-hours of generation to be distributed over the next 35 years following annual growth projections for solar energy production, which places the value of SolarCoin's total market supply in the number three position behind cryptocurrencies Bitcoin and Ripple.
SolarCoin is backed by two forms of proof of work. One is the traditional cryptographic proof of work associated with digital currency. The other proof of work is a 3rd party verified meter reading representing 1 MWh of generated solar electricity. SolarCoin is equitably distributed using both of these proofs of work as a means to reward solar electricity production.
SolarCoin can be claimed by individuals living in homes with Solar Energy panels on their roof or large solar electricity farms (leased or financed).
Differences with Bitcoin[edit]
SolarCoin is not a replacement for Bitcoin. It is a complementary currency using blockchain technology implemented to incentivize global Solar electricity generation.
* Fork from LiteCoin source code * Hash algorithm: Scrypt * §98.34 billion * SolarCoin mining is 50x more energy efficient than Bitcoin
Mining[edit]
SolarCoin was distributed to a large number of investors through Proof-of-work system (PoW) until September 2014. Since then, the Proof-of-Stake-Time (PoST) has been used because it is far less energy intensive. The transition from PoW to PoST is accompanied by an increase in the scarcity of money, thus, in the long term, increase its price. SolarCoin mining is now only via the production of solar energy.
Grants[edit]
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 X 24 hrs X 15% X Your KW Nameplate Capacity. This works out to 1.314 X the installed KW Nameplate Capacity. The initial SolarCoin grant is retroactive to the install date of the facility or Jan 1, 2010; whichever is more recent. Ongoing SLR grants are made every 6 months based the facility install month.
The first official recipient of a SolarCoin solar electricity generator grant was Lisa Shock, an Arizona resident.
Projects[edit]
SpaceBelt[edit]
The future development of a robust economy in low-Earth orbit (LEO) and beyond calls for a currency capable of supporting both ground-to-orbit and orbit-to-orbit transactions. SolarCoin presents an ideal candidate through both its global humanitarian mission and international footprint in congruence with the virtually unlimited abundance of solar energy in orbit.
– Christopher Altman
Cofounder and Chief Scientist
In September 2016 SolarCoin partnered with Cloud Constellation, a space-based data storage company scheduled to launch a network of data storage satellites to provide high-speed global cloud storage as a space-based data center designed for the secure transfer and storage of sensitive information. The organization will store its blockchain vault on the satellites for space-based deep cold storage concurrent 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 orbit. Satellite deployment has been scheduled for 2018.
SkyGold[edit]
SkyGold is an initiative to establish an orbital platform from which to claim SolarCoin from space-based solar panels as well as through operational satellites in real-time with a locally-installed SolarCoin space node.
United Nations[edit]
In April 2018 SolarCoin and ElectriCChain partnered with the United Nations Development Program (UNDP) in a project to distribute SolarCoin to solar energy producers, starting with a UN-backed SolarFund in the state of Moldova.
ElectriCChain[edit]
ElectriCChain is a nonprofit affiliate of SolarCoin. It is a distributed ledger and the self-organizing, decentralized swarm intelligence Internet of Things (IoT) that forms SolarCoin's blockchain backbone.
ElectriCChain was cofounded by Starlab alumni Nick Gogerty and Christopher Altman with solar advocates Luke Johnson and François Sonnet under support from the SolarCoin Foundation. To date, the project has granted more than 9 million MWh of solar power across 64 countries—more than enough to power the city of Amsterdam and its residents for a full year.
Solar generation[edit]
ElectriCChain was cofounded in January 2016. The project's initial focus is to monitor open solar energy generation data from the seven million solar generators installed worldwide. As SolarCoin's blockchain backbone, ElectriCChain records all ledger transactions to the blockchain. The currency is granted as an incentive to solar producers, functioning both as a digital asset and as a solar power production reward.
The project has partnered to create solar energy initiatives with NASA, Massachusetts Institute of Technology, IBM, Xerox Parc, Accenture, and the Microsoft/Ethereum BaaS—blockchain as a service platform—among others. It has been recognized by the United Nations and the International Renewable Energy Agency (IRENA).
The ElectriCChain initiative forms the lowest carbon currency, the largest environmental monitoring experiment, and the largest private renewable energy project in the world. The project has been formally recognized by the International Renewable Energy Agency (IRENA), establishing it as the world's first cryptocurrency to be recognized by an international intergovernmental organisation. As Elon Musk pointed out in his evolution of the mission of Tesla Motors from a transportation focus to an energy focus, these systems will scale rapidly.
Our mission in founding SolarCoin and ElectriCChain—to accelerate our societal transition from petroleum-dependent, war-scourged, scarcity economics to a renewable energy based, peaceful, post-scarcity economy—is now shared with Elon Musk.
– Christopher Altman, Cofounder and Chief Scientist
See also[edit]
| • Christopher Altman |
External links[edit]
References[edit]
- SolarCoin on Wikipedia, Everipedia and BitcoinWiki
- ElectriCChain on Wikipedia, Everipedia and BitcoinWiki
