HANOVER, Pa., August 28, 2021 (Newswire.com) - Zel Technologies GMBH announced Flux aims to be the first blockchain to successfully implement 'Proof of Useful Work' to secure the Flux network. Instead of solving randomized algorithms, Flux GPU mining will be directed at solving real-world problems through distributed computing such as machine learning, deep-fake detection and rendering for Folding@Home, and more. This innovation will make Flux the first eco-friendly blockchain while at the same time vastly bolstering the computational network resources of the Flux ecosystem. Innovation is the nature of Flux. And now Flux takes aim at yet another major innovation in blockchain — Proof of Useful Work.
Recently Bitcoin, Ethereum, and other proof of work blockchains have come under fire for being harsh on the environment. Even the UN has concerns about the environmental implications of PoW blockchains and is seeking solutions as they also view blockchain technology as a potential driver of sustainable development.
Proof of useful work (PoUW) is the solution to this. PoUW is a concept where the GPU miners can secure a blockchain by solving real-world problems rather than random ones. For instance, the work needed could be training a machine learning or AI algorithm, animation or visual effects rendering, or protein folding, such as with folding@home. With the PoUW concept, no energy is wasted as the computational power of the GPU miners is put to good use.
Flux will pioneer the first Proof of Useful Work blockchain
Flux has always been about innovation and bringing new ideas and concepts to the blockchain space. A good example of this is Flux Fusion and Zelcore that combined create an unparalleled platform for decentralized finance, empowering crypto holders to easily swap between 10 blockchains and make the most of their investment. In order to keep pushing the boundaries of blockchain technology, Flux will now set its sights on PoUW.
Flux will pursue PoUW for two main reasons.
The first reason is that Flux feels obligated to embrace the criticism of proof of work and actively work to improve any flaws in the system. Flux believes that If you're not evolving, you're falling behind. The scientific community has proposed PoUW as a valid solution to the environmental downsides of proof of work and Flux will commit to implementing this.
The second reason is that the Flux decentralized computational network can massively improve its capabilities by adding the GPU compute of the Flux miners to the network. By pointing the mining GPUs toward real-world distributed computing tasks, Flux will strengthen the network capabilities as well as adding new use cases.
Naturally, the Flux implementation of PoUW will be designed in such a way that it won't disrupt the current incentivization of Flux miners and node operators.
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Source: Zel Technologies GMBH