SolarCoin Generator Pool SecurityThe SolarCoin Foundation has made securing the SolarCoin Generator Pool a top priority for 2017 to help give future and current SLR owners certainty about the source and amount of SolarCoin released into circulation. After much research and debate, balancing security and simplicity, the SolarCoin Foundation proposes a time lock on the Generator Pool. The details are being finalized, but the approach would be similar to what Ripple has communicated:
https://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrencySome common wallet security practices for cryptocurrencies that the SolarCoin Foundation considered are:
-Cold Storage of wallets - Currently implemented for the generator pool and would continue to be operational for any wallets not time locked
-Very small amount of coin available for issuance at any one point in time (reduce risk by shrinking the size of the target) - Timelock of generator pool accomplishes this goal.
-Multi-signature authentication (m of n) from separate resources to access wallets - Currently implemented for the generator pool distributed internationally
-Proactive security of posting 100% collateral to access wallets - Decided against because of smart contract implementation complexity
The SolarCoin Foundation welcomes the community to comment on this important security requirement.
Implementation of these factors definitely seems to be important for the health of this coin long term. I'm especially excited by limited amount of coin available for issuance at any one point in time. This coin really seems to have a strong future ahead!