Crypto because the currency of the longer term is gaining traction as tech giants venture into the space.
- Microsoft filed for a replacement crypto mining system patent that uses energy emitted from daily activities
- Hardware for bitcoin mining has increased drastically
- Microsoft’s patented technology could also be a game-changer for digital payments
With digital payments becoming more mainstream, seamless and convenient, the emerging concern for hygiene following the worldwide COVID-19 pandemic and subsequent government-imposed physical distancing has made banknotes and coins less popular for payment. Cash payments undergo many hands, digital ones don’t .
Will crypto crack the mainstream in 2020?
We are progressing towards a post-cash economy, with blockchain, cryptocurrency, and e-wallets leading the way.
Microsoft recently patented a system that uses the info gained individuals engaging in daily activities – like exercising or reading – to mine cryptocurrencies. Let’s explain…
The patent filed named “Crypto Money System Using Body Activity Data” posits the thought that energy emitted from mundane activities are often transformed to power the crypto mining process.
The idea is that the collected energy are going to be converted into computer-readable data which can then be wont to solve computational problems. during this case, the computational task are going to be crypto mining processes that when relied on computer processes and graphic cards.
Sensors are going to be attached to an individual’s body to “collect” energy from their physical or mental exertions. As a result, “a user can solve the computationally difficult problem unconsciously,” the application stated.
Blockchain records require both accuracy and security, and every of those requires a huge amount of energy. Each element within the chain must have a singular code, correctly named, before it are often registered it in its digital records. the quantity of processing power required to try to to this is often gargantuan, where the distributed ledger technology (DLT) are often updated about 100 times each day .
There is speculation that the American computer giant’s patent could also be addressing a ‘future’ issue that cryptocurrency will face once the industry really flies .