Question 1

What is the current price of Solarcoin (SLR)?

Accepted Answer

As of the most recent data available, the price of Solarcoin (SLR) is A$ 0.05899100. In the past 24 hours, Solarcoin's price has increased by +0.00%%.

Question 2

What exactly is Solarcoin (SLR)?

Accepted Answer

Solarcoin (SLR) is a digital currency based on the Scrypt algorithm. It introduces a unique proof-of-work concept related to green energy production. For each megawatt-hour (MWh) of solar electricity generated, the solar plant owners can claim one SLR. To receive this Solar Proof of Work reward, owners must provide certified energy generation documents. These rewards are recorded as transactions in the Solarcoin blockchain.

Question 3

Who is behind the creation of Solarcoin?

Accepted Answer

Solarcoin is not produced by a traditional organization or company, but by an ecosystem of solar electricity producers who contribute to the network by generating green energy. Whilst the identities of these individuals are not disclosed, it's a decentralized, open network of contributors aligned to the idea of promoting the use of solar energy.

Question 4

How does Solarcoin work?

Accepted Answer

Solarcoin works by rewarding solar energy producers with SLR. For every MWh of solar energy generated, they can claim one SLR. This system is called "Solar Proof of Work." Energy producers must provide 3rd party verified energy generation certificates, like Solar Renewable Energy Certificate (SREC) or an equivalent country-specific documentation. All these rewards are stored as transactions in the Solarcoin blockchain.

Question 5

What makes Solarcoin remarkable?

Accepted Answer

Solarcoin's prime distinction is its link to the generation of renewable energy. It fosters the use of clean energy by rewarding people for solar power generation. This unique "Solar Proof of Work" reward mechanism is what truly makes Solarcoin stand out among other cryptocurrencies.

Question 6

How is the supply of Solarcoin regulated?

Accepted Answer

The supply of Solarcoin consists of three components: - The Mining Pool: There are 105 million Solarcoins (0.1% of total supply) intended for public mining over the next 40 years. These represent historically generated and unclaimed solar electricity. - The Generator Pool: As much as 97.5 billion SolarCoins (99.4% of total supply) are stored in a non-circulating account. These will be exchanged for Solar Proof of Work claims of solar electricity generation over the next 40 years at the rate of 1 SLR per MWh of solar energy. - The Genesis Pool: 500 million Solarcoins (0.5% of total supply) are stored for environmental charities, contributors, advisers, and those maintaining the SolarCoin infrastructure. The circulation from the Genesis pool is capped so that it won't ever represent more than 5% of the total Solarcoin in circulation.

Question 7

Where Can I Purchase Solarcoin (SLR)?

Accepted Answer

Solarcoin (SLR) can be purchased on the Lykke. Trading pairs will differ between exchanges, so it's advisable to check what options are available on each platform.

Question 8

How to keep my Solarcoin safe?

Accepted Answer

Keeping your Solarcoin safe involves securing your private keys. You could use hardware wallets, which store your keys offline, or software wallets that encrypt your information. Always maintain up-to-date antivirus protection on your devices and beware of phishing attempts aimed at obtaining your private keys.

Question 9

How much Solarcoin is currently in circulation?

Accepted Answer

The current circulating supply of Solarcoin is 64.8M. However, please note that the circulation might increase as more Solarcoin are mined and generated through solar energy production.

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