Microsoft Files A Patent For New Bitcoin Rival
In the middle of the global crisis triggered by the coronavirus pandemic, interest in Bitcoin and the crypto industry is reportedly intensifying.
People don’t seem to trust traditional markets anymore, and more individuals see a safe haven in Bitcoin these days.
Despite the crisis, there are various projects that are still developing in the crypto space, and large companies are also showing their interest in becoming a part of the innovation wave created by the crypto and blockchain tech.
Microsoft is working on a Bitcoin competitor
Microsoft seems to be working on a Bitcoin competitor. The tech giant is thinking about a replacement for Bitcoin’s energy-intensive mining system using a coin that’s powered by the human body.
You can check out the official patent to learn the complete details.
According to Microsoft’s patent application, the tech giant’s crypto would be running on the power that’s produced by simple activities, which include passive actions and kill the need for the expensive ASIC mining rigs that consume lots of electricity to power the Bitcoin network.
“For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process.”
Microsoft is detailing the role of sensors that would connect to a server and crypto mining participants.
Replacing Bitcoin’s current PoW system
The patent also states that the process can replace Bitcoin’s current proof-of-work system.
“Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously.”
This new project is seen by many in the crypto space as a potential rival for Bitcoin. Anyway, the crypto space has enough room for everyone.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.