What is Proof of Useful Work?

What is Proof of Useful Work (PoUW)?

Unlike Proof of Work (PoW), which demands miners to solve complex cryptographic puzzles to obtain mining rewards, Proof of Useful Work (PoUW) requires miners to solve real-world computational problems. Thus, they are more meaningful and serve a purpose than PoW mechanisms.

The Flux ecosystem that introduced the PoUW mechanism focuses on transferring the enormous computing power that PoW miners use into solving real-world applications. That makes mining not only secure but highly functional, providing solutions across industries, including Artificial Intelligence (AI), scientific research, and data processing.

Since PoUW solves real-world problems, the energy used in calculations is not wasted. Instead, it paves the way for more sustainable and eco-friendly solutions compared to traditional PoW mining.

What is the Flux Ecosystem, and how does it Work?

Flux is a cloud-based decentralized computing network that is specifically designed to develop and deploy scalable cross-platform blockchain applications. The nodes on the master chain enable their computing resources to be available to the entire Flux ecosystem, encouraging developers to build scalable decentralized applications (dApps).

Now, let’s see how the Flux works.

1. Block Validation

Flux implements PoUW to optimize the mining process. The mining algorithm of Flux is ZelHash, which is resistant to ASIC mining. Thus, it consumes less energy, making it more eco-friendly.

2. Architecture

Flux acts as a cloud-based infrastructure with seven other blockchains, including Ethereum, BNB Chain, Kadena, Solana, Tron, Avalanche, and Ergo. The chains are interoperable via the cloud-based operating system, FluxOX. Additionally, three crucial elements in the architecture include nodes, mining nodes, and parallel resources.

3. Nodes

Fluxnodes operate the network nodes of FluxOS. They represent the users who provide computing resources to the network, which can be used by the dApps. The nodes will be rewarded with Flux cryptocurrencies. Moreover, Flux nodes can run on a Virtual Private Server (VPS), a personal computer, a server, and an ARM processor.

4. Mining Nodes

Miners validate Flux transactions. Flux has a lower mining difficulty than other cryptocurrencies like Bitcoin or Dogecoin. The mining time is also only two minutes, unlike Bitcoin’s 10 minutes. Additionally, miners can earn extra rewards as bonuses through a shared Flux node program.

PoUW Real World Applications

Proof of Useful Work (PoUW) solves real-world problems, unlike some complicated random cryptographic puzzles and other consensus mechanisms. Thus, PoUW can be used effectively in the following areas.

1. Research

With technological advancements, many research centers will require massive computing power to solve complex cryptography problems. PoUW can help in offering immense computing power for research purposes. For instance, PoUW mechanisms can help track climatic conditions and weather forecasts.

2. Machine Learning

Training Artificial Intelligence (AI) and Machine Learning (ML) algorithms demands large data sets and significant GPU power. Regular general-purpose devices and personal computers cannot meet the power requirements and can be very slow for those processes. With PoUW, researchers gain access to resources that are available on mining hardware.

3. Deepfake

With technological advancements and AI algorithms, we can generate clips with modified faces and voices. Though this is beneficial for various use cases, there is a risk associated with it to some extent. Some bad actors can use this deepfake technology to their advantage and create false narratives of anyone. Thus, deepfake demands utmost consideration.

The Proof of Useful Work (PoUW) solves the security problems associated with deepfakes. PoUW enables users to access the resources needed to research, identify, and specifically differentiate real faces and voices from deepfakes.

4. Rendering in Computer Graphics

Computer graphics rendering is becoming increasingly used in all industries where the computer creates an image pixel by pixel. That is even more true in complex designs that require special effects. Thus, it demands a significant amount of computing power that may slow down the entire rendering process.

Computer graphics are used in almost every other industry, including entertainment, media, video games, animations, advertisements, and marketing. With PoUW, users can draw immense power from a pool of GPU miners and render computer graphics much faster.

PoUW Benefits

PoUW can have potential benefits that users can leverage. Let’s discuss some of them.

• PoUW helps build a sustainable cloud infrastructure and a positive way forward for computing technology.
• PoUW helps decentralize the global resources of existing CPUs and GPUs, encouraging users to use them efficiently and more sustainably as well.
• PoUW leverages blockchain technology and builds a decentralized network that encourages everyone to participate. Thus, anyone can make incentives by participating as a node in the network. Additionally, it opens up new possibilities for the infinitely scalable computational network that validates your IT resources.
• PoUW enables everyone to share their resources in a decentralized peer-to-peer system. Thus, anyone can add hardware to the network, encouraging scalability. Moreover, it allows everyone to track and optimize the efficiency of the infrastructure.