SunCoin.Network Updatelet me share with you the latest progress on the CO2 initiative fund
Project Funding with SunCoin Budget System aka "CO2 initiative Fund"As you know, SunCoin is a fork from Dash. One reason, why the team picked Dash as underlying technology was the concept of the budget system.
Following our manifest, we are big believers in the blockchain technology, as well as the community - with all it takes: miners, MNs, investors and their enthusiasts. But where is light there is shadow - and yes, there was some pretty bad bashing on the energy consumption for PoW. All haters of crypto try to bring it down with whatevery they can find.
Which brings us to the project funding using our SunCoin Budget System or how we'd like to call it "CO2 initiative fund". The purpose of this find is to support initiatives that have an positive impact on the CO2 balance.
As a quick reminder: carbon dioxide (CO2) is released into the atmosphere while e.g. burning coal or gas to generate energy. Today scientists found out, that there is strong evidence that the buildup of GHGs (CO2 is one major) is the primary cause of the global warming that has occurred in recent decades. As a result we have extreme weather like heavy rains or extreme dry periods.
How is CO2 connected to crypto or mining? First, we need energy. If your energy provider uses 100% renewable energy (Sun or wind power plants), then you might have an better CO2 balance for whatever electric device you use than the rest of us. Alternatives are Nuclear power plants or coal, gas, oil burning, which require create some sort of waste to our environment. Second, by producing the electronic parts, that one need to mine also have their carbon footprint - raw materials had to be gathered, hardware manufactured and shipped.
SunCoin wants to add a share on the positive side of the balance, by funding projects that seek ways to reduce CO2 emissions. And today we'd like to give you one example of a project, that we see as a nice fit.
Project proposal: Batteryhasher – 18650 powered miningPete from Australia is a DIY-guy and is building his own powerwalls using old laptop batteries. So, beside the fact, that his setup is cheaper than e.g. a Tesla power wall, he idea is also reducing electronic waste by repurposing these old laptop batteries.
Find all the details in our excerpt
https://github.com/suncoin-network/documentation/raw/master/ProjectPropsal_Batteryhasher.pdf we created.
love to hear your feedback and ideas.
