Just what is SolarCoin (SLR) and why might you want to buy it? We explore more below:

- 350+ Cryptocurrencies Listed
- <0.10% Transaction Fees
- 120 million Registered Users
- Secure Asset Fund for Users
- Earn On Deposits

- US Based
- Start with as little as $10
- Buy and sell 200+ cryptocurrencies
- Pro Solution for larger traders
- Available in 190+ countries
What Is SolarCoin (SLR)?
Not many crypto traders have heard about SolarCoin. Despite this, the fact that SolarCoin fulfills a genuine function and heads in a specific path makes it an exciting cryptocurrency.
SolarCoin is an alternative form of digital currency that functions similarly to airline miles for solar-powered electricity generation. It is a simple incentive to encourage more people to switch to solar power.
SolarCoin can be purchased on any cryptocurrency exchange by anyone. The project aims to encourage more people all over the world to use solar panels by offering financial rewards in the form of coins.
If you acquire SolarCoin and want to turn it into money, you can exchange it for Bitcoin, which can then be used as a cryptocurrency or converted into any fiat currency. However, please note that although SolarCoin could be used as an investment vehicle by those looking to make a profit, the project’s primary objective is different.
How Does SolarCoin (SLR) Work?
The value of the SolarCoins is backed by a combination of two different types of Proof-of-Work. The first is the conventional cryptographic Proof-of-Work, referred to as Proof-of-Stake-Time (PoST) in the digital currency context. Namely, this Proof-of-Work protocol is connected to the SLR component responsible for representing digital currency so that the coin can be utilized in transactions.
The other Proof-of-Work (PoW) mechanism makes SLR unique among cryptocurrencies. This second SLR protocol is, in fact, a meter reading that has been confirmed by a third party and represents a one-megawatt hour of solar-generated electricity.
The cryptocurrency is distributed using these two types of protocols to compensate those who generate solar energy.
What Is SolarCoin (SLR) Used For?
The primary objective of this ecological cryptocurrency venture is to transform our world into a habitat that runs on solar energy. To this end, the SLR technology was designed to help the environment and promote solar electricity, the most cost-effective and environmentally benign power source currently available.
Put simply, people get SolarCoin for switching to solar energy. Individuals living in residences with solar panels installed on the roof or substantial solar farms that are rented or subsidized are eligible to claim SolarCoin.
Solar plant owners can apply for a grant from SolarCoin by registering their Solar Power system with the project’s foundation. This can be done directly through the SolarCoin website or through a verified SolarCoin partner or monitoring platform.
During registration, you will be required to provide evidence that you are the owner of the solar panel system, documents confirming your grid connection, as well as solar energy output and KYC details. SolarCoins are distributed semiannually to those who have registered their solar plants.
Moreover, solar energy producers are eligible to apply for SolarCoin incentives, distributed at a rate equal to 15% of the generator’s maximum output. The computation for the entire year is as follows: 365 days x 24 hours x 15 % x your KW output capacity.
The first SolarCoin grant will be backdated to the day when the facility was installed or January 1, 2010, whichever date came earlier. Grants for SLR renewal are distributed every six months with no geographical limitations.
Where to Buy SolarCoin (SLR)?

- 350+ Cryptocurrencies Listed
- <0.10% Transaction Fees
- 120 million Registered Users
- Secure Asset Fund for Users
- Earn On Deposits

- US Based
- Start with as little as $10
- Buy and sell 200+ cryptocurrencies
- Pro Solution for larger traders
- Available in 190+ countries
SolarCoins are a cryptocurrency that can be sent to and spent from digital wallet accounts. You can get regular money by exchanging these coins at cryptocurrency exchanges, or you can buy things or services with them from vendors who accept SLR digital currency as a form of payment.
How Long Has SolarCoin (SLR) Been Around?
A group of volunteers who share the conviction that harnessing the power of the Sun is essential to ensuring a sustainable future for the world pioneered the concept of SolarCoin in 2014.
This team subsequently established the volunteer-run SolarCoin foundation and announced the SolarCoin crypto initiative through a technical proposal presenting the DeKo-backed currency concept to the general public.
The SLR developers also have the backing of countless studies that have shown that solar energy is the most economical way to produce and utilize electricity and one of the most environmentally responsible methods of consuming and creating power since the Sun is believed to be an infinite source of energy.
What’s Controversial About SolarCoin (SLR)?
Most of the world’s top cryptocurrencies have little to no practical use, although some of them are still there because they are trendy. It is almost as if the developers of these coins started them with the sole intention of becoming wealthy, and that’s about it. You shouldn’t put your money in coins like these since they won’t hold up over time.
SolarCoin, despite its small cap size, has articulated its mission and has attached itself to a sector that is seeing rapid expansion. Even while there is a significant possibility that SolarCoin will fail due to the immaturity of both the crypto market and the solar industry, we can still hope it will succeed because of its promising use case.
How Many SLR Coins Are There?
According to CoinMarketCap, there are currently over 64 million coins of SolarCoin in circulation out of a total supply of 98 million coins. SolarCoin has gained 0.64% in value over the past 24 hours, with a current price of 0.00436003 USD. Please visit http://solarcoin.org/ for more details.
Can SLR Be Mined?
To verify monetary transactions, blockchains like Bitcoin rely on mining. SolarCoin’s underpinning blockchain, the Energy Web Chain, employs a verification method called Proof-of-Authority (PoA).
Since Proof-of-Authority does not rely on mining, there is a significant reduction in the amount of energy required, as well as the emissions of carbon dioxide, and the transaction costs are significantly reduced.
As a result, the total energy consumption of the SolarCoin initiative is less than that of a single household.
In a nutshell, the only way to legitimately obtain free SolarCoins is to install solar panels on your property and generate solar power.
This makes perfect sense, given that the initiative’s goal is to increase the use of solar energy in production, which is analogous to the concept of “mining” digital currencies. You could consider this activity to be a form of energy mining.
Market Cap and Price History of SolarCoin (SLR)
Up to September 2014, SolarCoin was made available to a wide number of investors via the Proof-of-Work mechanism (PoW). Since then, the Proof-of-Stake, also known as PoS, has been employed since it is friendlier to the environment and uses less energy.
In the long run, the move from PoW to PoST will boost the currency’s value because of the decrease in availability that the coin will experience. To be more specific, this coin is designed in such a way that its value increases in line with the amount of solar energy produced by the community that adopts and promotes SLR, thus encouraging the use of renewable energy that is both affordable and kind to the environment.
Biggest Competitors of SolarCoin (SLR)
On the cryptocurrency market, SLR’s primary competitors are the crypto initiatives that prioritize minimizing their environmental impact. One such project is CarbonSwap.
What Does the SolarCoin (SLR) Project Road Map Look Like?
SolarCoin is a positive development not just for the crypto world but also for the solar sector as a whole. As a forward-thinking solution, it has the potential to increase solar power’s widespread adoption, and it’s already making waves in an industry that’s just getting started.
Nobody can accurately forecast the future of digital currencies, but we want to believe that Solarcoin is going to make a real positive difference regarding renewable energy and our ecosystem by making a significant impact on the rate at which people adopt solar power everywhere in the globe.
Pros and Cons of SolarCoin (SLR)
Pros
- A prospective, eco-friendly project based on low-carbon blockchain technology;
- Aims to accelerate the global transition to sustainable energy;
- Used in a growing industry.
Cons
- Small market cap;
- It wasn’t designed to be exchanged as money.
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