Review on SolarCoin by Robiul Islam
An international inter-governmental organisation.
Its goal is to reduce the world's reliance on fossil fuels by encouraging the production of solar energy. However, in reality it has a negative impact on the environment. It receives no electricity or resources for its own blockchain and encourages the production of clean, renewable energy in the form of solar power.
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Pros
- Its mission is to bring about a positive change in the world by using solar energy and saving fossil fuels. This is unlike other cryptocurrencies, where their intensive excavation process actually consumes huge amounts of electricity and energy, such as the Bitcoin network.
- The only way to mine is to have a solar power generator setup with a third-party verified meter, which will provide coins in proportion to the amount of solar power generated.
- It does not require any conventional mining to make new coins. The blockchain is not even actually stored on any node in the network, instead, it is located in cold-storage distributed on short-orbit satellites worldwide, permanently immortalizing the data.
Cons
- As the world's most accepted source of renewable energy, solar power is seeking to shift to the most renewable energy dependent economy. But it remains to be seen if it will be acceptable to everyone.
