Pulsitere

Cryptocurrency generated by renewable sources of energy.

Comment

What is Pulsitere

An environment-friendly cryptocurrency generated by renewable sources of energy. We chose the name "Pulsitere" as a reminder of every small pulse we make to shape a better future for the world.

What it does

Pulsitere plans to solve the environment-related problems which was and is currently caused by the excessive use of pollution-generating sources of energy to either generate, maintain, or mine cryptocurrencies with enormous power consumption per year. The way to solve it is to use of clean and renewable sources of energy such as solar energy, wind energy, geothermal energy, hydropower, etc. Popularizing the use of said sources of energy for cryptocurrency purposes will also solve the climate change related problems caused by the cryptocurrency activities itself.

Main idea and inspirations

The main idea behind the project is to create a healthy and environment-friendly ecosystem of blockchain by utilizing renewable and clean sources of energy, without losing the benefits of decentralized currency.

Decentralized finance (DeFi) is said to be the future of finance. It is true, decentralized finance has proven to be a much better counterpart of the traditional finance. The most popular example of decentralized finance is cryptocurrency. Cryptocurrency contributes to the development of the decentralized finance itself, by allowing anyone to understand how financial system works.

Aside from how much cryptocurrency contributes to DeFi and the future of finance, the fact that a single crypto mine can consume as high as 90 terawatts of electricity per year—that is the average electricity the country of Philippines consumes a year—is staggering. This much energy wouldn't exist without giant power plants.

The giant power plants mainly come with conventional sources of energy (e.g: coal, diesel, and gas) which indeed generate a great amount of electricity. But the said sources of energy also have some great flaws, especially for the environment. Pollution and waste are some of the byproduct of the conventional sources of energy. These byproduct imposes a great danger against the environment.

This problem concerns us the most. We understand that cryptocurrency is maintained with such monstrous machines, but we also realize that cryptocurrency is one of the advancements of technology. That is why we need to think of an alternative way to maintain cryptocurrency from now on.

How we built it

We built the blockchain prototype by using TypeScript, JavaScript, NodeJS and Angular. We built the front-end using Angular, TypeScript, and HTML to make it attractive and responsive. And the back-end was built using NodeJS and JavaScript.

We created a bit of 3D animation for the presentation using Blender. It is a great tool for creating 3D models and 3D animation, and it's free!

Challenges we ran into

Brainstorming our ideas was the most difficult part of this project rather than creating the prototype itself. We've actually came with several different ideas, however we only pick the most innovative one at hand.

Accomplishments that we're proud of

Creating a cryptocurrency is never said to be easy, especially if we're planning to use our own blockchain system to host it. However, curiosity always brings us closer to whatever goals we aim to accomplish even if it's as difficult as creating our own cryptocurrency. Despite the challenges and the numerous of time spent reading documentaries, Gyan succeeded in establishing his own cryptocurrency and was more than happy to implement what he had learned to our project.

As important as the prototype, presentation of our project is also an important part to consider putting our efforts into. We want to show the best prototype and presentation with as little time as possible. Dim overtook that challenge by creating a whole bunch of designs and presentation for this project in a matter of days.

We are proud that even though we were only a two-person team, we successfully overtook a lot of challenges together as a solid team.

What we learned

After several hackathons we've participated in, we learned that unique and innovative ideas are essential to succeed. We've also learned how to coordinate better despite the challenges we've come across.

So, what's next for Pulsitere?

We'll certainly improve this project and the other projects to come. Starting with developing the cryptocurrency further is one of the other things we have in mind.

We can also bring the project to a bigger scale by implementing the actual renewable sources of energy to generate and maintain the cryptocurrency ourselves. The project is indeed a highly feasible project.

Share this project:

Updates