Flux will pioneer the first Proof of Useful Work blockchain
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.
To do proof of work a crypto-miner usually runs one or several GPUs to do the necessary randomized calculations required by the network. This consumes energy and thus it has an environmental impact. While that impact can be, and is, mitigated by using renewable energy and more modern hardware, there is no denying that proof of work is wasteful as the energy expended has no use other than securing a blockchain.
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.
The concept of PoUW has been explored by several academics and many theoretical implementations have been suggested, however, we have yet to see it successfully implemented in a real blockchain.
Flux aims to change this.
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. For instance, the community mining pool Fluxpools.net has more than 400 GPUs (at the time of writing) mining Flux — that’s a lot of power and resources to be tapped for the network.
While implementing PoUW will be challenging, Flux technology is capable of doing it. As Flux continues to develop this concept, more will be shared with the Flux community.
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, more likely it will probably provide an opportunity to create further incentives as the network performance can be more efficiently utilized.
The effort will be led by Senior Developer Jeremy Andersen a.k.a. “Blondefrogs” who has extensive experience in blockchain development and implementation. Jeremy was the lead developer for Raven Coin and other projects in the past and is looking forward to the challenge. He is now dedicated to helping the Flux team move forward with this exciting innovative technology.
The only way is forward
Daniel Keller, Co-Founder of Flux stated “Whatever is wrong with proof of work, we’ll Flux it. Flux is dedicating the required developer resources and will pioneer the first implementation of proof of useful work in blockchain.”
Daniel continued, “By doing this Flux will push blockchain technology forward by solving one of the major downsides to proof of work, vastly increase the Flux network resources by adding GPU compute, create new use cases and provide more value to Flux holders, miners, node operators, partners, and clients.”
As always:
Stay informed with the latest news on the official Flux website.
Check out the recent AMA with the Flux team.
Also, drop by the Flux discord to meet the Flux team and community.
