If you have been exercising in the wee hours of the morning and getting exhausted at the end of the day, it is time to reconsider this. Though exercises help the body to stabilize and keep it fit, many people are yet to adapt to this. Over 60% of the world population hardly takes to exercises and the few that are into it are not consistent. What if there is a means to draw many people to participate in this? Perhaps offering incentives for exercising will attract many. The blockchain community is happy to announce another project with another real-world use case.
What is Gym Ledger?
The platform is yet another blockchain network that uses the distributed ledger in decentralizing exercises. This time, the focus is how to reward users for their exercise participation. It was discovered that many are not interested in exercising their body. A larger part of this population does not have the time and others simply don’t find it worth doing. Gym Ledger changes the story by offering token-incentives to users who use its exercise outfit. It leverages the body to do so and the blockchain will be used because of its immutability. Interestingly, the amount is to be earned us determined by the user’s efforts.
Mobile App – Changing the face of Mining
Conventional mining had been patterned in a way that end-users have little power over it. The focus had been shifted to mining farms where enough energy to be used is cited. Gym Ledger disrupts the equation by changing the way mining will be conducted. With the platform, users can create crypto coins from their mobile devices.
The app also pays for exercises. The proof of work (PoW) consensus will be used in mining and redistribution of created tokens. Aside being one-stop platform to mint tokens, the app also supports signup. This implies that users have to get registered to use services offered therein. However, you don’t have to port to the website; your registration on the app automatically creates an account for you on the site. You can keep track of your exercise and monitor the progress report.
The app also disrupts traditional checks conducted on heart rates. It has a Bluetooth heart rate monitor that connects to your heart once you start the application. The heart rate is the core feature that determines how much you earn. The Gym Ledger app places your heart rate undr scrutiny and determines your input to exercise. This works in tandem with the new algorithm – Proof of Exercise. Interestingly, you don’t have to visit a hospital to check your heart rate anymore; this had been accomplished on the app.
New Consensus Mechanism
Gym Ledger has other tidings in stock for the blockchain community and that is encapsulated in the new consensus algorithm it introduces – Proof of Exercise (PoE). Given its newbie status, a user might be forced to ask “what is Proof of Exercise”?
It has been mentioned that Gym Ledger rewards users with tokens when they exercise. There is tendency that many will delve into this without the slightest motive of exercising but to earn. To this end, PoE consensus algorithm takes into account the time devoted by a user in the course of exercise. PoE also releases incentives when due.
Hardware Wallet:
Gym Ledger is no doubt the first platform to make another invention for the medical industry. Wearable devices such as health bands have taken over the space as part of plans to stamp IoT feet in the world. Gym Ledger had developed another variation to health bands; bands that support digital wallets in hardware form.
The wallet allows users store their crypto funds without hassles and trade them when necessary. However, the hardware wallet cannot conduct transactions except when connectivity had been struck between it and a mobile device with internet connectivity. It also takes into account calories burned during exercises and these are mapped using Proof of Work into the blockchain. In a nutshell, the wallet runs cardio services and also stores tokens and cryptographic currencies. Gym Ledger hardware wallet is the most prominent of products listed by the platform and allows mining and storage of cryptocurrencies.
Token Allocation
Crowd-sales: 20%
Partnerships: 25%
Development: 30%
investors: 10%
Advisors: 15%
Token Sales Information
Token Symbol: LGR
Platform: Ethereum
Token Standard: ERC-20
Soft Cap: 4 million LGR
Hard Cap: 20 million LGR
Exchange Rate: 1 LGR= 0.002 ETH
Accepted Currency: ETH
Registration Country: The USA
MEET THE AMAZING TEAM AND ADVISORS
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Work into Finance:
The whole essence of Gym Ledger was to attract more persons to exercising. In addition, there are features that will enhance user experience. Finally, users can be in the know of their heart rates and also earn for their participation.
Website: https://gymledger.com/
White paper : https://files.acrobat.com/a/preview/6191b48f-b3c2-4e02-bbbe-91551cf5e8d7
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=5032514.0
Twitter: https://twitter.com/GymRewards
Telegram: https://t.me/gymrewards
Writer's information
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292