A Brief Introduction
Pekka, and by extension ComputeCoin, were built with the mission of delivering affordable cloud services to anyone who needs it, and the best way to go about it was a cloud that is operated and governed by individuals themselves - i.e. decentralization.
ComputeCoin is the incentive layer built on the Pekka Network, which is a base-layer blockchain network and a cloud service marketplace. Transactions, governance, and the reward system all take place on ComputeCoin.
Why Idle Computers?
It is with idle computers that ComputeCoin can achieve its two major offerings: affordable cloud services and decentralization; and there isn’t a short supply of capable computers idly sitting around. According to Office for National Statistics, about 68% of the world’s computer processing power goes unused, and they can be put to good use by providing cloud services to small individuals and businesses who can’t afford the overpriced alternatives.
ComputeCoin Utility
ComputeCoin is the utility token that ties the whole process together; clients use the token to rent computing power for cloud services, and those tokens are then used as rewards for those who provide them.
But ComputeCoin isn’t the only token users can earn for working their idle computers, as they can also run their PC to mine multiple cryptocurrencies at the same time.
How It Works
When a client purchases or rents services from ComputeCoin, tasks are sent to one or multiple idle computers to begin processing. When multiple computers are involved, the network uses edge computing through load balancing, scheduling, fusion algorithms… etc, to achieve the best results.
Once a task has been completed, it is verified using ComputeCoin’s very own unique algorithm called “Proof-of-Honesty”, or PoH for short. This ensures that the results generated from these computers are correct, which, prior to the creation of PoH, was an obstacle impossible to overcome.
If a computer is awaiting a task, rather than sit idly by and waste time, it is used for efficient mining. With ComputeCoin, PCs can use their different components such as the GPU, CPU, and storage drive simultaneously to mine multiple cryptocurrencies at the same time, enabling maximum utility until a cloud task arrives.
Proof-of-Honesty
The algorithm was created by the ComputeCoin team to solve a decades-old problem regarding verifying task results submitted by computers. ComputeCoin is not just the first to use PoH in the market but also has the algorithm protected with a US patent.
PoH secures the network and helps establish trust within the community. By encouraging clients to play an active role in phishing detection, PoH creates a reliable ecosystem wherein users can rent and lend cloud service computing.
Conclusion - Why Provide Cloud Computing Power?
On a personal level, it is a profitable engagement that utilizes nothing more than an otherwise idle computer and some electricity. It is another means of working one or more PCs to serve a purpose in return for rewards.
In a grander picture, it helps those in need of affordable cloud services, because the alternative for them are overpriced packages sold by tech giants who try to take advantage of their position. Nowadays, cloud services are essential for something to get out there and grow to its full potential, and ordinary people can be a part of that movement with nothing more than the computers they have at home.
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