Solarcoin Price

About the coin

Solarcoin is a Scrypt-based alternative digital currency designed to incentivize the production of solar energy. It introduces an innovative concept known as the Solar Proof of Work, which rewards green solar energy producers with Solarcoins (SLR) for every megawatt-hour (MWh) of electricity generated. This initiative aims to promote the adoption of solar energy by providing a financial incentive to solar plant owners.

Main features

The supply of Solarcoin is structured into three main pools:

1. The Mining Pool: Comprising 105 million Solarcoins, this pool represents 0.1% of the total supply and is available for public mining over the next 40 years. These coins correspond to historically generated and unclaimed solar electricity.

2. The Generator Pool: Holding 97.5 billion SolarCoins, this pool accounts for 99.4% of the total supply and is stored in the OCA non-circulating generation pool account. These coins will be exchanged for Solar Proof of Work claims submitted over the next 40 years, at a rate of 1 SLR per MWh of solar energy.

3. The Genesis Pool: This pool contains 500 million Solarcoins, representing 0.5% of the total supply. It is reserved for environmental charities, early volunteers, advisers, builders, and maintainers of the SolarCoin infrastructure. The circulation from the Genesis pool is capped to ensure it never exceeds 5% of the total Solarcoin in circulation.

How it works

To claim a Solar Proof of Work reward, solar plant owners must submit third-party verified energy generation certificates, such as a Solar Renewable Energy Certificate (SREC) or equivalent country-specific documentation. These rewards are then recorded as transactions on the blockchain, ensuring transparency and traceability. This system not only supports the growth of solar energy but also integrates it into the digital currency ecosystem, providing a sustainable and environmentally friendly approach to cryptocurrency.