Whenever you go to a discussion forum or site linked to cryto industry you frequently come across people raising concerns about the power consumption issue. How cryptos specially the more popular ones like Bitcoin seem to be guzzling a huge amount of power and how it might lead to several complications in the future like:
Lack of processing power required to mine crypto
Need for more expensive mining equipment making crypto harvesting non-feasible
Protests against the environmental impact of this power demand
There are several projects planned which aim to setup huge mining farms to scale up and meet the ever-growing power requirements of crypto currencies. In my opinion this is not a long-term solution to this core issue, and I always wondered if this is at all possible to resolve.
Then I came across Gaimin which has a very simple business case to fix this processing power requirement issue. They have come up with an incredibly innovative idea which will make you go “Duh, that’s so obviously apparent and why didn’t I think of this before.
Well, here goes- they have developed a software which can be installed in machines of online gamers to tap into their unused processing power.
I think they have a game changing (pun unintended) plan which if executed properly will remove forever these concerns related to power requirement in crypto mining. Their main benefits are:
-Untapped Potential- They will be tapping into the vast reservoir of dormant processing power within graphic cards of online gamers. There are over 400m online gamers which use high end machines with latest graphic cards and they regularly keep updating machines to meet the requirements of new games launched in the market. To ensure there is no disturbance to the gaming experience of users the software will only use the extra power remaining after spending the amount necessary to run the game smoothly.
-Freebies to the Gamers- The software will be given free to the gamers and they will additionally receive payments in crypto for sharing their unused processing power
Environment Friendly- This is the clever part. They are leveraging something which already exists so reduce the carbon footprint by eliminating need of new processing machines and mining farms
-Gaming Tokens- They will launch GMRX tokens which can be used for purchasing games, gaming equipment, making online purchases in popular multiplayer games. This will be like icing on the cake for hardcore gamers
-EOS based
- They will run on EOS infrastructure which has been proved to be the most efficient for gaming equipment
What remains to be seen is what kind of hash rates can be generated by spare processing power of gaming computers and what amount of cryptos will it be generating. I personally am definitely waiting for it to get launched so I can check it out for myself.
Lookout for a follow up article from me on how is the user experience of this software.
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https://medium.com/@spradhan.dce/can-gaimin-solve-the-biggest-problem-faced-by-crypto-industry-1693f4aa83d3