Bitcoin, along with a slew of other currencies, is based on the so-called Proof-of-Work (PoW) consensus algorithm. PoW is often criticized for its lack of energy efficiency, but US tech giant IBM has recently come up with a solution — applying PoW in an IoT network. The report states that IoT devices could perfectly provide a significantly higher level of efficiency than ordinary mining hardware, including last-generation ASIC miners.
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IBM’s Dr. Emanuele Ragnoli claims that this would help to diversify the assignments that are given to different nodes since they all “do the same job”. Instead, he wants to see a “layered ecosystem” where every node would be tasked with different things.
Arman Shirinyan
