SolarCoin - Definition from the Hotspot Shield Encyclopedia

SolarCoin is a cryptocurrency that aims to promote the use and adoption of solar power as a main source of electricity generation.

SolarCoin is created with the aim of lasting for 40 years and delivering incentives to its users for the generation of Solar electricity. SolarCoins are generated using two different proof of work methods. One is the traditional method associated with cryptocurrencies, and the other is via a third party that verifies the Solar power output and generation of its users in MWh. For each MWh generated, Solar Coins are rewarded. SolarCoin is a complimentary currency to Bitcoin and is not meant to serve as a replacement. The users who generate the solar energy may receive grants in the form of SolarCoins.