Prelude
The ever-evolving landscape of technology offers an edge to those who adapt and adopt the latest innovations in their daily and professional lives. From the invention of writing to the rise of computers, people have sought to utilize technology in whatever way possible to gain an advantage over their competitors.
When such things witness widespread adoption, they transition from an advantage in a competition to a requirement to compete, and the playing field changes. But what if the providers of such a requirement took advantage of their positioning? What if their services were not priced ethically - what would that translate to for small individuals and businesses?
Cloud computing services is one of the latest requirements for something to get out there and grow to its full potential, be it a project, a business, or a movement; and providers of said services charge far too inconsiderately, to the extent that it can hurt these small entities trying to reach their goals - but progress is just around the corner.
Enter ComputeCoin
Built with those very people in mind, ComputeCoin brings affordable cloud computing services to customers by connecting them with those who have computing power to spare, and with developers who can design services that fit their needs.
The team built this project with a particular vision in mind: to provide cloud services to anybody who wants it, and the means to that goal was blockchain technology and decentralization. What is an answer to high-cost cloud services is also a chance for the millions of idle computers sitting around the world to put their computing powers to good use. Furthermore, it is a means for developers to design and sell service apps for the platform.
But if the answer was as simple as a decentralized blockchain network and idle computers, why is it being done just now?
How It Works - PoH
Preventing such a process from reliably taking place was an age-old computing problem that couldn’t guarantee verifiable results, so the team cracked the puzzle with a solution they named “proof-of-honesty”, or PoH for short. It is a US patented algorithm that ensures the results of the computing tasks executed by providers are correct; it is the first of its kind, and the first to enter the market.
ComputeCoin is built on the Pekka network, a cloud service marketplace and a base-layer blockchain network. When clients transact with ComputeCoin, tasks are sent to the idle computers to be processed in order to provide the services that the clients require. The results of these tasks are verified with the PoH algorithm, and the providers, as well as developers, are rewarded in ComputeCoins for their effort.
In case there are no tasks for an idle computer to complete, it is used to mine multiple cryptocurrencies at once; this is done by using different components of a computer - such as the GPU, CPU and storage drive - to mine different cryptocurrencies simultaneously.
Where Does It Go From Here?
The marketplace is set to launch for users in September, and the mainnet will follow in January of 2022. Upon the launch of the mainnet the ComputeCoin tokens will begin their allocation and release. The biggest portion of the tokens will be allocated for mining, and smaller portions will go towards the team, fundraising, staking, and the foundation.
Being the first to enter the market with patented technology will give them a massive advantage over their competitors. Combined with a variety of cloud service offerings, low prices, and monetary incentives, ComputeCoin is not just a recipe for success, but one for notable positive change - a step towards affordable cloud services for all.
To Conclude
It is not just about being able to provide individuals and businesses with low-cost cloud services, the bigger picture is to enable and facilitate progress by ensuring that people have access to tools that are - in this day and age - essential to bring great works to fruition.