ADVERTISEMENT
latest stories:

Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm

As hundreds of “altcoin” knockoffs are minted online, bitcoins no longer dominate as the principal form of digital currency

Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm
Image: Solarcoin

1.
SOLARCOIN 

 

What it is
Solarcoin is a digital currency that you can only get by investing in solar energy. Cryptocurrency enthusiast Nick Gogerty came up with the idea for solarcoin as a way to encourage people to go solar and to pay them back in some small way. Together with the SolarCoin Foundation he started a completely new digital currency. The foundation holds 99.4 percent of all the coins that will ever exist—the rest will be mined by the public—and they are now giving them out to anyone who can prove they have added solar electricity to the grid.
 
For now, the handouts act as a reward—a little token of thanks—to the people who are already doing their part for the environment. But Gogerty hopes that the project will function as much more in the future. He would like to see solarcoins take on enough value that the grants add a real economic incentive to the renewable energy market. And he hopes that even people who do not generate solar energy will begin to use the currency as a way to support the movement and increase the coin’s value.
 
Who started it
Solarcoin was released this January by a group of volunteers who together form the SolarCoin Foundation.
 
Exchange rate
None of the major exchanges support solarcoin trades.
 

 
« Previous
5. Dogecoin
Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm  


 
Rights & Permissions
Share this Article:

Comments

You must sign in or register as a ScientificAmerican.com member to submit a comment.
Scientific American Holiday Sale

Give a Gift &
Get a Gift - Free!

Give a 1 year subscription as low as $14.99

Subscribe Now! >

X

Email this Article

X