CRYPTOSOLARTECH – The Blockchain and Energy For A Better World
Cryptosolartech is a new blockchain company that invests in solar energy and is presently having an Initial Coin providing (ICO). the corporate was fashioned as a result of a drag within the cryptocurrency industry: it’s presently terribly energy overwhelming to mine cryptocurrencies. The lifetime of the cryptocurrencies, the corporate affirms, is directly connected to electricity, therefore it’s difficult that they need to pay such a lot energy to figure and this may cause some issues within the future which may have an effect on their capability to survive and still be helpful. as a result of these problems, Cryptosolartech determined to return up with a solution: produce a star electrical phenomenon pool that’s capable of generating forty five,000kW, which might be wont to offer a full mining farm. a corporation referred to as Respira Energía can then purchase this energy made by Cryptosolartech and use it. This company uses solely clean energy and its production is 100 percent freed from chemical element gas (CO2).
What is cryptocurrency mining?
In the world of cryptocurrencies, money is extracted, a known process as mining. The miners obtain the cryptocurrencies from time to time as a reward for solving a mathematical problem.
When is a block created?
When a block of transactions is created, the miners give way to the next phase: They have to take the information from the block, and they apply a mathematical formula, which makes it something different, and smaller. Each time one of these miners manages to solve the formula and creates a successful hash, it is rewarded with the cryptocurrency that is extra-minating the transactions previously verified.
What is this mathematical problem?
Cryptocurrency users constantly send money from one place to another of the planet, so it is necessary to create a record to verify the payments. The nodes of the cryptocurrencies register these movements in the Blockchain; the work of the miners, is to confirm the transactions and register them in the Blockchain, so that, in each operation, they receive a small commission for carrying out this task
The most important thing that you should not forget, is that cryptocurrencies are not created or destroyed, but they are EXTRACTED.
The high energy consumption for cryptocurrency mining is the main problem in this sector. The miners suppose an enormous energetic cost for its functioning due to the enormous mathematical calculations that the processors have to do. It should be noted that the life of cryptocurrencies is strictly linked to electricity.
Mining cryptocurrencies consume around 1.3 KWh of electricity, in addition to the large electricity consumption, we find that in some countries, rich in coal and oil, energy becomes cheaper by burning polluting fuels and causing more pollution and in turn a greater demand causing CO2 emissions to increase.
Cryptosolartech will solve the problem of crypto mining cost by using the greenfield solar facilities of their projects, to provide energy to sustain and run the miner plants at an efficient cost of electricity in the long-term period operation.As we known, the electricity cost represents the major cost of the miner plants and with the synergy of the efficient cost of electricity of the solar plants, token holders could have access to profit cryptocurrencies miner by paying a rent to access the facilities at a very competitive price of electricity to do so.
This approach to business allow token holders to mine at less cost than the market pay for to do so currently. CryptoSolarTech has a competitive advantage that permits to be the first mover in the mining market and maintain it to the middle and long term crypto market competition.
The proposal is to create a solar photovoltaic pool, capable of generating 45,000kW, enough power to supply the mining farm. Respira Energía will buy the energy from this plant to then send it to the farm located in Málaga, thus making the mining sustainable and profitable, without the need for common electricity.
Respira Energía uses only clean energy, a company whose origin of central production is 100% free of CO2.
HOW CRYPTOSOLARTECH OPERATES?
Cryptosolartech Token (CST)
Cryptosolartech, is a digital asset whose holding will indicate ownership of a fraction, of a cryptocurrency mining farm and a photovoltaic solar energy plant. Initially the location of the photovoltaic plant will be in the province of Seville (Spain), and the mining farm will be in Malaga (Spain) in an industrial warehouse already enabled for this activity.
Cryptosolartech is a ERC-20 type token that will work on the Blockchain of Ethereum.
The CST Token is classified as a Utility token, so all owners will have rights of use over the assets acquired, and may request their exploitation and use at the time they require it.
For this ICO a set of 1260 million tokens Cryptosolartech will be issued. All tokens that are not sold during the ICO will be burned. No more tokens will be issued in the future. The initial value of 1 CST is equal to 0.10 Euros.
April 16th, 2018 (12:00 PM GMT +1)
Number of Total Tokens
July 14th, 2018 (12:00PM GMT +1)
Number of Tokens for Sale
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