There’s a new digital token that just entered the digital currency market, and it looks pretty legit. CirrusCoin Token, being advertised as, “the world’s greenest, cheapest, enterprise grade option for compute capacity,” seems to be doing well during its initial ICO stage.
Greensparc Inc., the company behind the new coin, is located in San Francisco and offers energy-based optimized cloud and edge cloud computing services, according to the coin’s white paper. The company’s focus is to make high-performance distributed cloud computing easily obtainable by business professionals, individuals and big corporations.
Unlike many coins on the market, CirrusCoin does not act as a normal digital currency. Instead, it tokenizes a new commodity: the combination of electrical energy and cloud computing in a unique way. A CirrusCoin can be redeemed by the owner for the high-performance GPU algorithm that is powered by one kilowatt-hour of electricity in Greensparc’s collection of edge cloud resources co-located at renewable energy power plants.
According to the white paper, Greensparc’s CirrusCoin program will be capable of providing exact and real-time reporting on the renewable energy content and carbon footprint of each kilowatt-hour that drives the participating edge resources.
“This is the genesis of a new commodity – green computing,” says Sam Enoka, CEO and Co-founder at Greensparc. “We’re making cloud computing more efficient and sustainable.”
Greensparc’s vast experience with energy markets, grid and utility operations, edge infrastructure and renewable generation technologies allows for the creation of a distributed, high-tech, and sustainably powered computing infrastructure that the company says is more affordable and friendlier to the environment than any existing computing resources on the market.
“Crypto and blockchain, AI, machine learning, internet of things and distributed applications are creating a gold rush for computing power and it’s stressing the power grid,” Enoka explains. “CirrusCoin is designed to address this growing demand while helping to stabilize the grid, enhance revenues for power plants, reduce energy costs and promote renewable power production.”
Right now, a CirrusCoin can be purchased for 0.002125 ETH, which is a 15 percent discount from the price it will be as of March 1. Compute capacity will become available for redemption right after the ICO period ends on April 1, 2018. The green company has launched its ICO within the United States first, with a plan to expand internationally in the near future.