What is our “Energy Generative Blockchain”?
What is an energy generative blockchain?
To understand what is meant by “energy generative blockchain”, please first read the related article: What is Proof of Fusion.
The Proof of Fusion event adds an additional layer of detail to Proof of Existence by immutably recording energy production and valuable asset metadata as “witness proofs”.
Publishers of witness proofs will receive a green blockchain fuel, named “ARA”, in return. ARA can be used to pay fees for miners and provide stake in a multitude of consensus algorithms, converting traditional chains to green chains. The distribution of coins would be proportional to the amount of green energy produced, incentivising green energy production.
Whereas Bitcoin’s Proof of Work algorithm incentivises overconsumption of energy, SOLARA’s green blockchain would actively generate it.
Many public and consortium chains plan to have pluggable consensus algorithms and “fuels” to pay for transaction processing and use of the blockchain. ARA can fuel blockchain ecosystems, allowing “green” storage, processing and consensus, creating sustainable blockchains.