There is a cool project that stimulates the development of alternative energy sources – SolarCoin (SLR). It’s an altcoin created in 2014 to encourage people to use solar electricity, which is produced and accumulated through the operation of a solar battery.
How it works?
If you are the owner of a solar battery, then you can connect it to the SolarCoin system and constantly receive SLR, this happens in several stages:
1. You leave an application for registration of your solar panel in the SolarCoin Foundation.
2. The Foundation checks the document and confirms your registration.
3. Applicants download an Ethereum-compatible wallet to create a receiving address that acts as a bank account. The monitoring system sends the generation to the SolarCoin Foundation, which in turn sends SolarCoins to the Claimant’s wallet at a rate of 1 SolarCoin per 1 MWh of verified electricity production. SolarCoins are sent to addresses (accounts) in digital wallets and used as currency. SolarCoin can be exchanged for state currencies on cryptocurrency exchanges or spent at businesses that accept them.
Now SolarCoin is not just an open source cryptocurrency, but a project of a community of volunteers around the world working together as the SolarCoin Foundation. We think it’s an excellent initiative.