While looking for an interesting crypto currency to do a review about, I was approached by TeslaCoin and asked if I could do an article about their coin and community. Why not, I thought, so here it is, and I hope you will enjoy it!
TeslaCoin was originally launched on January 18th of this year, and has gone by pretty much unnoticed for some odd reason. Don’t confuse TeslaCoin with any other coins using the name “Tesla”, as this is the original coin named after Nikola Tesla.
That is also what TeslaCoin is about : following and adhering to Nikola Tesla’s philosophy. Despite him making quite a lot of money throughout the years, Nikola Tesla funded all his projects himself. That is what TeslaCoin aims to do as well : develop services, and let the coin’s value go up slowly and naturally.
One of the other major parts about Nikola Tesla’s philosophy is his way thinking : Man should not be controlled by corporations or people with influence, the “human” approach always wins in the end. This is something we have all lost track of I’m afraid.
If you would like to find out more about who Nikola Tesla was, what he did, and more importantly, how he lived his life, you can check this Wikipedia article.
So what makes TeslaCoin so interesting? Well there are quite a bit of factors that should all be mentioned, but I guess we’ll have to start off with the technical details first. Get the boring stuff out of the way and all, you know?
TeslaCoin is a PoW/PoS Scrypt coin, with a block reward of 172 TES. The total supply cap will be 299,792,458 TeslaCoins. Blocks are generated every 30 seconds.
Now that we’ve got that sorted, let’s take a look at some of the important parts, such as what TeslaCoin does, what’s in the works, and all of that juicy good stuff. Are you ready?
The plan is for TeslaCoin to launch a totally solar powered and free mining pool. By saying this, I mean that all hardware involved in this mining pool, will run on solar energy. This will include GridSeed miners, which will be hashing for free.
By developing alternative energy in order to mine TeslaCoin, the team will also reduce as much of the carbon footprint as possible. Interesting to see how this will play out, and as soon as have more information about this project, we will let you know.
The solar powered mining is part of the TeslaCoin growth scheme in general, the team wants it to be as organic as possible. The value of TeslaCoin should not get, or need to be, pumped in any way. Services will be slowly developed centered around the coin’s basic philosophy.
TeslaCoin has also found its way to donating towards Tesla-oriented projects. For instance, did you know there was an IndieGogo campaign for an advanced seismic warning system, inspired by Nikola Tesla? TeslaCoin helped fund that project to reach their target. Simply amazing.
There are also plans to establish scholarship funds for less privileged children. This scholarship funds would be aimed towards more science classes. No further details about this approach are known as of right now, but we can only applaud these efforts.
Now, a crypto currency without a store or merchant service wouldn’t be good at all. TeslaCoin has that angle covered as well, as they are working on an online shop where you can buy many everyday products with TeslaCoin. I’m really looking forward to seeing that!
Last but not least, there is also a TeslaCoin promotional video, which you can view below :
As you can see, TeslaCoin is firing on all cylinders by taking the slow and steady approach. The value of TeslaCoin is less useful compared to the usefulness of the community, and we at CryptoArticles couldn’t agree more.
There is one date you might want to mark on your calendars though : April 18th 2014. This is the date when TeslaCoin will stake for the very first time. From this date forward, TeslaCoin will continue to stake every 30 calendar days.