Cryptocurrency Q&A
How does SolarCoin make money?
How does SolarCoin make money?
CharmedClouds
Mon Jul 22 2024
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7 answers
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Could you elaborate on the financial mechanisms behind SolarCoin? How does this cryptocurrency actually generate revenue? I'm curious about its business model and how it sustains itself in the long run. Are there specific incentives for miners? Are there transactions fees or other sources of income? I'd like to understand the economic viability of SolarCoin and how it differs from other cryptocurrencies in terms of earning potential.
7 answers
Lorenzo
Wed Jul 24 2024
The distribution rate is set at 1 SolarCoin for every 1 MWh of verified electricity production.
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ZenMind
Wed Jul 24 2024
A sophisticated monitoring system is in place to track and record the generation of solar energy.
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noah_harrison_philosopher
Wed Jul 24 2024
Once the generation data is captured, it is sent to the SolarCoin Foundation for verification.
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BlockchainBaronessGuard
Wed Jul 24 2024
The Foundation ensures that the electricity production is accurately measured and certified.
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Lorenzo
Wed Jul 24 2024
The acquisition of SolarCoin involves a unique process.
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