- Sign-up and create a user account for Solcrypto.
- Submit claim to Solcrypto at the "Apply for SolarCoin" Tab.
(Solcrypto screens claim and may ask you for additional information directly via email. Solcrypto sends claim to the SolarCoin Foundation (SCF) and they independently verify the claim. SolarCoin Foundation (SCF) accepts or denies claim.)
- If SCF accepts the claim, they directly transmit SolarCoins to your public wallet address administered by Solcrypto.
What is SolarCoin?
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 occurred. 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 currency space.