New Direction for Public Chains in the Carbon Neutral Future
Opportunities and Challenges of the Carbon Neutral Era
An important theme of the global economy this year is carbon neutrality. Ironically, this year also saw more people than ever investing in crypto, which has long been criticized for its energy waste.
In the 2021 Global Blockchain Computing Power Conference, economist, president of the Cryptocurrency Academic and Technical Committee, Zhu Qiming said, “The circumstances surrounding the computing power industry and green energy mean that carbon emission is an issue we have to solve. This poses serious challenges for the computing power industry and yet also holds opportunities for the next round of growth.”
This year, many countries have started implementing varying degrees of regulative policies to bring the development of crypto and blockchain in line with carbon neutrality. As a response, crypto and blockchain projects have experimented with many solutions. For example, Ethereum plans to replace PoW with PoS, and Gryphon Digital Mining has announced they will mine Bitcoin using renewable green energy.
Of all these solutions, Matrix has presented one that seems the most promising. On the software level, Matrix has adopted an AI-hash mixed algorithm together with a non-global hybrid PoW. On the hardware level, Matrix has invented a system that conveys heat emission from mining farms to nearby cities for central heating.
What does this all mean for the future of the Matrix ecosystem? The short answer: this will be a case study for all crypto projects to learn from.
The Potential of Carbon Neutral Mining
Matrix has always held More Public Benefit as its motto, and guided by this principle, Matrix has come up with a brand new hybrid PoW. The core of this design is to use random cluster algorithms to elect representative nodes to carry out PoW computing, thus avoiding the energy and computing power waste of a global PoW consensus mechanism.
Besides minimizing energy waste, this design also comes with the side benefit of huge commercial potential. As there will be many unelected miners in each mining cycle, they can lease out their idle computing power for profit just like cloud computing platforms do.
Picture: Matrix’s Computing Power Output Workflow
As miners already get a decent return from mining, selling computing power is a side income for them. For this reason, Matrix will be able to provide computing power at more competitive costs than conventional cloud computing platforms. In addition, Matrix has two more tricks up its sleeves.
As the team will not run this distributed computing platform themselves, but instead provide open API and SDK for anyone to use building his/her own distributed cloud computing center, this platform will be highly efficient.
In the future, Matrix will also be capable of utilizing computing power from all types of devices, like your laptop or gaming console. When idle, these devices will export their computing power to AI companies for profit.
Picture: Cost Comparison Between Computing Power from Consumer Devices and Traditional Cloud Computing Providers
This innovative business model will bring a lot of life to the Matrix ecosystem. Firstly, when leasing idle computing power, all transactions will be made in MAN, thus boosting its liquidity. Secondly, when people apply to become a third-party vendor of idle computing power, Matrix will require them to stake a number of MAN, which limits the total number in circulation causing MAN to appreciate. Lastly, as an AI giant of the future, Matrix is in the perfect spot to utilize the cheap computing power to facilitate the work of AI scientists on its platform.
The Advantage and Business Potential of Heat Recycling
Matrix’s mining farm heat recycling technology is already implemented in some shopping malls and schools at one-third of the cost of conventional heating. After China banned Bitcoin mining due to energy waste concerns, this innovation is the key to the long-term development of farms mining MAN.
Even better, a number of Bitcoin mining farms are already approaching the Matrix team hoping to get the help of this technology to meet carbon neutrality standards.
Sustainable development is the theme of our time, and carbon neutrality is a trend that cannot be reversed. Therefore, blockchain and crypto projects have to adapt. Matrix’s solution takes advantage of the trend and turns it into an opportunity for the long-term growth of its ecosystem. This will pay off over time.