At least one billion of world population continues to live in the dark as electricity remains deficient in most parts of the world. To add to the irony, the world is not moving fast enough to reach its universal electricity access goal by 2030, according to the World Bank.
Moreover, 2.5 billion people still rely on biomass, such as fuelwood, charcoal, agricultural waste and animal dung, to meet their energy needs for cooking (source). There is dire need for accelerated efforts and investments to make electricity available to all.
This is the biggest problem today, however, challenging times are also most powerful. They make us creatively search for better and modern solutions.
Introducing TESLACOIN
As they say, necessity is the mother of invention. TESLACOIN is a new innovative platform developed to gather funds for inventors of new sources of energy. Inspired by the great inventor Nikola Tesla who has historically been ignored, TESLACOIN aim to create an ecosystem that will help in creating a decentralized and sustainable world supporting free energy and renewable energy projects.
"Throughout space there is energy it is a mere question of time when men will succeed in attaching their machinery to the very wheelwork of nature" - Nikolas Tesla
The energy sector is greatly monopolized by few big companies who hold major shares of banks as well and are the biggest hurdle in financing new energy startup projects. TESLACOIN will give control of energy and money in the hands of many and will break this monopoly forever.
Tesla Coin Statistics
Launched in 2014, current price (as of 11 Jun 2018) of TESLACOIN is 0.025080 USD with a market cap of 1.8 million USD and circulating supply of 75 million coins (source). On 30th January, TESLACOIN saw its all-time high of $0.168.
The whole crypto market is taking correction since the start of the year 2018, seeing the bearish trend it’s an ideal time to accumulate TESLACOIN. Remember today's 7000 USD bitcoin was 0.009 USD in 2009.
You can buy TESLACOIN at Cryptopia and Upcoin exchanges, with more to be announced over the coming weeks.
Consensus Algorithm
TESLACOIN initially used a hybrid of Proof-of-stake (PoS) and Proof-of-Work (PoW) consensus algorithm. To ensure less carbon emission and avoid wastage of energy, PoW has been ceased. TESLACOIN PoS allow coin stakers to earn new coins as a reward for locking their coins in a specialized wallet.
• 7% annually during the first 1,000,000 blocks (estimated 1 year)(after v.4.0 HardFork)
• 6% annually during the next 1,000,000 blocks (estimated 1 year)(after v.4.0 HardFork)
• 5% annually during the next 1,000,000 blocks (estimated 1 year)(after v.4.0 HardFork)
• 4% annually during the next 1,000,000 blocks (estimated 1 year)(after v.4.0 HardFork)
• 3% annually until maximum coins
TeslaStarter
Inventors of the new sources of energy will introduce their projects to investors and VC companies via TeslaStarter platform. If TESLACOIN is energy highway then TeslaStarter is on ramps.
The above image gives a holistic view of TeslaStarter platform from an economic perspective.
In the first phase, ideas with non-finished products will be crowd funded and only a few of them will make it to the next phase.
Companies will be built in the second phase and they will get direct funds from TESLACOIN investors as well as from VC companies.
The third phase will encompass the companies that have a successful business model and that they've been able to manufacture and deliver a fair amount of product.
In the above diagram, there were a lot of ideas represented by little circles. From those only 4 made it to the second phase (A, B, C, and D). Here we also have 3 VC companies that will fund the ideas to transform them into companies. For instance, 1st VC has funded A and B. The 2nd one has funded A and C and so forth.
Finally, company A and C are mature enough to move to the final phase of execution. This is how the TeslaStarter ecosystem will work.
TeslaStarter is currently in testing, prior to its launch in late August 2018.
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