A. About Solar Energy
We can't transition fast enough to a world based on solar energy and storage. These are an absolute minimum providing clean energy. We have to move the world away from intensive carbon & nuclear based energy supplies.
“When most people think about the role of solar, they think of it as a substitute for other sources of energy. The unique point of solar photovoltaics is that it’s a form of distributed energy. Solar energy can be installed over a wide range of areas that other sources of energy can’t – on top of homes, on farms, at airports, harbours and anywhere off-grid. And that makes it special. It means that anyone can install solar energy. Anyone can participate. And from the moment an owner starts to generate electricity, they become an active agent in the energy debate. They become part of the solution.”-Atsuhiko Hirano, Director of Solar Frontier.
SolarCoin is an addition to the distributed solution that Solar Energy as an energy source. The blockchain is a transparent ledger automatically updating that verify the flow and trade, destruction and creation of a cryptocurrency or digital asset. The two technologies together used in tandem, can produce new value from quanitfying securely the amount of useful energy that was generated and used from the sun. This means that anyone with a solar panel can produce useful energy for themselves, and, in addition, value in the form of SolarCoin.
B. About SolarCoin
- Never store your wallet identifier with your password.
- Initiate major transactions (including cash exchange) from your own PC - not one that is shared - or one that boots as a dedicated virtual machine.
- Use your phone wallet for small transactions when traveling. Just as with a real wallet, carry only the cash required for anticipated transactions. By their very nature mobile devices are continuously exposed to outside threats.
- If you must engage in a large transaction away from home, use your phone to access an online wallet. It can be unsafe to access an online wallet from a PC that you do not own.
- Limit internet-connected wallets to the minimum reserve that you absolutely must leave online for ready access.
- Backup your wallet after every transaction to encrypted storage or an offline device, and then sweep to another wallet. (Do this even for transactions with your primary wallet - it adds a layer of protection by recreating the coin and shifting it to a wallet that is not shared with the buyer or seller.)
- There is a difference between user authentication and encryption. It is not sufficient that your backup device or service requires a login – it must be encrypted too. If you use a cloud backup service, find out whether they encrypt from end-to-end. In this way, your data cannot be viewed by the backup service itself, by anyone in between, or by others sharing your WiFi or mobile data service, so your cash is sealed from the moment it leaves your device until you restore the data at some point in the future.
What is the estimated amount of SolarCoin that is generated per year in Japan and how will this change over 20 years?
1 SolarCoin (§SLR) = 1MWh of Solar Energy
SolarCoin (§SLR) is an alternative digital asset and reward. Think of it as frequent flyer miles for solar panels that you own. For every MWh that you generate from your solar panels you get 1 SolarCoin as a reward. The SolarCoin reward is given out as a digital asset by Solcrypto. Then you can use it like other digital assets.
Digital currency and assets are a form of currency or medium of exchange that is electronically created and stored. Some digital assets for example are Bitcoin, Litecoin and other altcoins. SolarCoin is an altcoin and is backed by two forms of proof of work. One is the traditional cryptographic proof-of-work (PoW) associated with digital assets. Another proof of work is a 3rd party verified meter reading of solar energy that is produced. SolarCoin is equitably distributed using both of these proofs of work as a means to reward solar energy generation. The condition of 1MWh = 1§SLR has been designed to hold for the 40-year project intended lifetime.
On September 25th 2015 (Block 835,213), a switch to the Proof-of-stake-time (PoST) protocol of blockchain securitization occured. This means that leaving your wallet running in the background on your computer will earn you about 2% annual interest, depending on how much you leave your wallet on. It will be harder to get SolarCoin once this occurs because SolarCoin will only be mined from the granting mechanism by the SolarCoin foundation or bought or sold on the exchanges and markets including Solcrypto. Solcrypto will write a news post here at SolarCoin PoST to explain how the system will function. It is one of the most advanced algorithms in the crypto assets space. Solcrypto will be staking on the solarcoin blockchain 24x7 with our specialized hardware starting early October 2015. Therefore if you have an account with Solcrypto, and have successfully claimed coins from your Solar Panels with us, we can make it easy for you and earn the interest on your behalf. You can withdraw your coins at anytime from your Solcrypto account.
SolarCoin is intended as a mechanism to incentivize generation of global solar electricity. Solar power is an abundant, renewable energy source that avoids pollution from conventional coal and nuclear plants. Every megawatt-hour (MWh) of electricity generated through a solar PV panel avoids more than 680 kgs of carbon dioxide (CO2), more than 2.2 kgs of sulfur dioxide (SO2), and almost 0.9kgs of nitrogen oxide (NOx), and it also avoids producing radioactive nuclear wastes.
A recent Price Waterhouse Coopers report on the potentials of cryptocurrency highlighted the strengths of a technology backed financial system, stating:
"In our view, cryptocurrency represents the beginning of a new phase of technology-driven markets that have the potential to disrupt conventional market strategies, longstanding business practices, and established regulatory perspectives—" PWC, 2015.
SolarCoin is an extension of that, a digital asset backed by the sun.
On the coinpayments platform you can buy thousands of products directly with SolarCoin. For example computing equipment, precious metals, beauty and gifts, art, food, collectibles, gaming and ebooks.
You are also able to trade SolarCoins into other digital assets and global currencies like BitCoin, USD, Yen or any currency on the Solcrypto platform. You can also hold SolarCoins as an investment and earn the 2% interest rate from your solarcoin wallet.
Yes, it is possible to exchange SolarCoins to other alternative digital assets and BitCoins. Also, one of the purposes of Solcrypto is to connect prospective buyers with sellers of SolarCoins so that trades can take place and trusted feedback about the trades can then be indexed on the site.
Yes, the price can change just like any other digital alternative asset. However, because SolarCoin is backed by two forms of proof of work, then the SolarCoin foundations expected modelling is a goal target value of SolarCoins to reach 20-30 USD/ 1§SLR in the next 3-4 years, however the market value is ultimately determined by the laws of the market and supply demand.
Investment in traditional currency speculation is also classified on the riskier end of the investment spectrum. With any forms of investment, it is widely thought that a diversified portfolio among many industries, currencies, stocks among many types of investment vehicles hedge risk. Therefore crypto asset investment is only a subset of a diversified investment portfolio that changes according to each individual investors needs. Solcrypto never states that we provide investment advice, please talk to your own financial and investment advisors for investment advice.
Coin wallets held by online exchanges are always susceptible to hacks and risks. There is now an increasing drive to improve the financial transparency and professionality of online cryptocurrency/asset exchanges. Part of this ongoing process is increasing security your own personal computer and browser when interacting with online exchanges.
Make sure the site uses a https:// (green security certificate that is 128Bit or 256Bit encrypted) and investigate the companies that hold the registered certificates. Please also check the security settings on your browser.
It is also generally advised that your clear all add on programs in your browsers and any additional programs that you have recently installed or been asked to install that are running in the browser. Do not download attachments from emails from untrusted sources and don't follow links to websites that are untrusted.
Solcrypto doesn't hold any SolarCoins within our site. The only information that we do hold is the email addresses of the site users and information about the buy and sell offers. We have 128Bit encryption on our servers and are constantly checking our security.
Solcrypto has offline storage of SolarCoins with two level human shield verification of wallets. This is our cold storage cases. Nothing that is input into the Solcrypto site can be linked to the account holders SolarCoins so that could be removed. All is done offline and the firewall between the offline and online are two humans.
Additionally, here are some security tips for storing your SolarCoins;
Yes, and you can claim them at Solcrypto and we will handle everything between you and the SolarCoin foundation. Your house will need to have solar panels installed and generating after 2010. Solcrypto is acting as an affiliate claims portal to process claims to the SolarCoin foundation for Japan and the Asia Pacific Region. We also offer support back to the owners of the homes, commercial rooftops and solar plants.
Solcrypto also has a tab once you have logged in to process your claims.
Yes, you can trade SolarCoins on third party sites like Lykke, Bittrex and Bleutrade.
Current estimates from the Ministry of Trade and Industry (METI) show that the size of the Japanese photovoltaic sector in 2014 has a total of 10GW AC generation capacity. This is cumulatively added to the already generating installed capacity that is approximately 28GW AC.
For a simple calculation, at the end of 2014 if all of these solar plants which are comprised of three sectors are running at approximately 1000 kWh/kWp installed capacity. Then assuming 1kWp DC capacity is equal to 0.8kW AC capacity, the total amount of Megawatt hours (MWh) being generated in Japan in 2014 is equal to 38 GW AC x 1/0.8 = 47.5 GWp DC x 1000 kWh = 47,560,000,000 kWh (divide by 1000 to convert to MWh) = 47,560,000 MWh.
The SolarCoin foundation states that 1§SLR = 1MWh, therefore 47,560,000 §SLR was generated in 2014. Assuming §SLR is currently trading for about 0.02 USD or 3 yen/ §SLR, this §SLR market capital in Japan only is 1,425,000 USD in 2014 or 171,000,000 Yen in 2014.
In addition, new solar capacity is constantly coming online adding to the total installed capacity gowing at 10-30% per year.
SolarCoin production then can accurately be predicted to within 3% each year depending on a number of variables.
This is done via the blockchain explorer for SolarCoin and everything is transparent. A link can be found here.
You can download a SolarCoin wallet from here.
C. About Solcrypto
Solcrypto acts as a claiming portal for SolarCoin rewards. It is an officially recognized affiliated website of the SolarCoin Foundation (SCF). Solcrypto routinely communicates and develops the SolarCoin ecosystem with the SolarCoin Foundation and other affiliated websites in Europe and the USA.
Information about how Solcrypto works can be found here.
As holding coin wallets inside a website can be done securely and many exchanges do have this, Solcrypto has decided to run our peer-to-peer service where we do not hold online wallets. Users directly trade coins between their own wallets and Solcrypto provides an information portal (similar to Localbitcoins.com) where users can find buyers and sellers and complete their trades with one another directly. The Solcrypto offline system does hold coins on behalf of each user and the users SolarCoin balance can be found under the "SolarCoin Balance" tab. The "SolarCoin Balance" tab is only visible to each user only and not other users. This system is completely offline and not in any online wallets.
We decided that we do not want to follow this business model and want to provide the strong base infrastructure of sharing important trading information so that users can make informed choices before they trade.
Solcrypto does earn fees from the SolarCoin Foundations generator pool for matching claims from each Solcrypto user as part of the affiliate website program. If the solar system owner chooses Solcrypto or the SolarCoin foundation directly to get their SolarCoin claim, the amount of solarcoins that the owner receives is exactly the same. For Staking, Solcrypto claims a wallet withdrawal fee of 0.45% of the total coins staked (including interest). If you enjoy using the Solcrypto information portal and blogging service where we update important information and regional developments about the uptake of solar plants in Japan, please don't hesitate to leave a SolarCoin tip at our public wallet address. We really do need to keep the basic service infrastructure operational and therefore need to pay developer fees and ongoing server fees. SolarCoin address: 8ab7xbkBx87dAXJPuVRoZUwyjwk3iUQtg3
This usually takes the SolarCoin Foundation a few days to check through all of the documentation to see whether it is real and authentic. So please make sure that your accompanying documentation about your house's Solar system and electricity bills are easily readable and authentic. Then after the SolarCoin Foundation approves the claim, it takes about 1 business day for Solcrypto to credit your coins to your solcrypto wallet balance. This will be visible to you on your "SolarCoin Balance" tab.
In the near future this will be improved to be done within 15 minutes. We are currently building an IoT (Internet of things) datalogger platform to facilitate this process.
Solcrypto provides a platform to complete as important country and regionally affiliate site for the SolarCoin Foundation to distribute SolarCoins to Solar Electricity generators in the local Japanese language for Japan. Solcrypto also focuses on the Asia Pacific Region including Australia and New Zealand. If you wish to claim SolarCoins for your facility located in Europe, please head to this website Global SolarChange as your local language may be supported.
Solcrypto is hosted in Japan and can evaluate feedback quickly to the local Japanese IPP's so that they can process their claims in the local language in local customs and needs and then solcrypto can automatically interface with the solarcoin foundation directly on their behalf. If the IPP is confident enough to claim directly with the SolarCoin foundation, this is also possible.
Login to your account. Go to the "Apply for SolarCoin" tab. Fill out the webform and attach the pdf's of your solar panel installations proof of ownership documents. (e.g. your electricity bill and other documents proving your address). Submit the claim.
Solcrypto will then check the documents and submit the claim to the Solarcoin foundation (SCF). The SCF will then process the claim and send your Solarcoins to your Solcrypto wallet or your own Solarcoin wallet (that you have already setup) depending on what you specify as your preference.
Information about how Solcrypto works can be found here.
The SolarCoin foundation has released rules for affiliated sites and their staking policies on staked coins that the site holds on behalf of the coin owners. Solcrypto has signed an MOU with the SolarCoin foundation and this means that we have to contractually adhere to the SolarCoin Foundation's guidelines, rules and audits to prevent bad actors inside the SolarCoin ecosystem.
From April 1st, 2017, Solcrypto no longer stakes SolarCoin on behalf of Solcrypto users, and recommends current Solcrypto users who have claimed SolarCoin through Solcrypto to contact us so we can send you your coins that may have been staked starting after September 2015 to March 31st, 2017. We then recommend users to take full control of their own SolarCoin's on their own hardware, or on exchanges and wallet services such as Lykke.
For users allowing Solcrypto to stake on their behalf from September 2015 to March 31st, 2017, the following rule applies, and has not changed.
For each subsequent year Solcrypto is holding the solar module owners SolarCoin on behalf of them, their wallets receive 2% interest. That means if the wallet is left untouched at a balance of 100 §SLR, the interest generated on this balance is 2% or 2§SLR per year. After 1-year, the "coinbalance tab" in the user account in Solcrypto will show 102§SLR wallet. Solcrypto will keep calculating interest based on our SolarCoin nodes staking engine for the 100§SLR. If the user wants to withdraw their SolarCoin's from Solcrypto, we will charge a 0% one time withdrawal fee.
The address can be found next to the "Order SolarCoin Stickers" menu once logged in and filled the webforms. Solcrypto public wallet addresses are generated randomly and they connect to the SolarCoin blockchain. Then once your coins are sent to the address they are then consolidated in our staking address pool.
The solcrypto wallet address for donations in Solarcoin is: 8Hocu8s8u8FFAyh5ev2qsNmLZYgeiVToHi
Sign-up or login to Solcrypto. Once logged in, fill the webforms "Order SolarCoin Stickers" in the top page and our dedicated staking wallet addresses shows up to send your SolarCoins to. After we confirm that we have your coins we will dispatch you your SolarCoin stickers within 2-business days.
For more information about how to order stickers can be found here.
Historical information on Bitcoin Forum since the beginning of SolarCoin time (Jan 2014-September 2014) PoW phase here.
Historical information on Bitcoin Forum since the transition phase (September 2014-) PoW to PoS phase here.
Chainz blockchain explorer is useful for mapping the SolarCoin blockchain