SunContract (SNC) is a blockchain-based platform and cryptocurrency that aims to disrupt the traditional energy market by allowing individuals and organizations to buy, sell, or trade renewable energy directly. The project was initiated in 2016 and had its Initial Coin Offering (ICO) in 2017.
By leveraging blockchain technology, SunContract aims to create a peer-to-peer energy marketplace where consumers and producers can interact without intermediaries, such as energy companies or utilities. This enables individuals with solar panels or other renewable energy sources to directly sell excess energy to consumers in their vicinity.
The SunContract platform utilizes smart contracts to automate and facilitate energy trading transactions, ensuring transparency, security, and efficiency. Through the platform, consumers can access competitive pricing and choose sustainable energy sources, while producers can sell their surplus energy and get fair compensation.
The SunContract cryptocurrency (SNC) serves as the fuel within the platform, facilitating transactions, rewarding system participants, and enabling efficient value transfer. SNC can be utilized for purchasing energy or traded on various cryptocurrency exchanges.
Overall, SunContract aims to empower individuals and promote the use of renewable energy by reshaping the energy market through decentralized technologies and peer-to-peer interactions.
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