Abstraction Layer Solar Mining for Digital Currency
A solution for clean energy mining cryptocurrencies on any device.
Most people closely watching the digital currency space understand one of the drawbacks of the leading digital currencies is the escalating energy consumption Proof of Work mining and consensus systems entail. There are countless articles discussing the massive electricity requirements for mining Bitcoin and other cryptocurrencies that today require more electricity than some entire countries commercial and residential usage combined.
This has led to a centralisation effect where mining hardware accumulates in regions with subsidised or otherwise very low electricity costs. Drawbacks include but are not limited to, higher pollution levels from power generation, capital loss from recurring power bills, inability to mine on cellphone and tablet devices, and the previously mentioned centralisation effect.
Proof of Stake mining and consensus systems improve on the Proof of Work based systems by eliminating the need for high energy use hardware such as gpu’s and asic based hardware. Proof of Stake mining, while a vast improvement over POW consensus, still requires nodes to be operated 24/7 to function. Stake Miners must leave their computer hardware powered and running 24 hours a day to keep the transactions flowing. This model can be improved to reduce energy and capital loss requirements even further.
Abstraction Layer Solar Mining, or ALSM, is a mechanism that is designed to enable stake miners to stake a cryptocurrency without having to leave their hardware online 24/7, mine using zero carbon footprint renewable solar power, and still participate in adding real value to the underlying digital currency network. ALSM ( pronounced awesome ;) can reduce energy draw to the absolute minimum while creating traditional mining incentives and increased benefits to the network, stake miners, and environment.
A real world example of a digital currency using abstraction layer solar mining mechanism, or ALSM, is the crytpocurrency NUMA. The base layer of an ALSM is a standard or variant Proof of Stake mechanism. In the case of NUMA the base layer is the wavesNG blockchain, the fastest publicly available blockchain network.
The miner staking layer for NUMA is an abstraction layer above the wavesNG network that users of NUMA can deposit their staked cryptocurrency units into to begin mining NUMA. To reference the use of solar power ,we call this abstraction layer the Panel Node. Individuals or organisations who are staking NUMA are called Cell nodes. The total of all staking cells become the panel powering the mining and consensus system.
By powering the abstraction layer ‘panel node’ solely with solar generated electricity and providing users an abstraction layer for staking , there are 3 distinct improvements over direct POS mechanisms.
- ALSM stake miners do not need to leave their staking hardware running 24 hours a day to maintain the network and receive mining block rewards.
- The energy grid draw and carbon footprint for mining NUMA is reduced to zero, a vast environmental improvement over POS and POW systems.
- By eliminating energy costs for stake mining to zero, no NUMA has to be sold at market prices to cover the electricity expense, leading to reduced selling pressure and higher per unit value
Details for clean energy stake mining NUMA using the ALSM system-
Individuals or organizations who wish to participate in stake mining NUMA will deposit 12,000 NUMA to the ALSM panel node address to qualify as a cell node.
Each cell node receives 30 NUMA per month or the equivalent value of WAU Coin or Bitcoin on the block reward distribution date. The block reward date will be the 1st of each month
Cell nodes will only be considered to be staked, if NUMA is deposited to the panel node address a minimum of 48 hours before the 1st of the beginning month of ALSM staking.
Cell nodes will only be considered to be staked when the cell node is active for a minimum of 1 month
ALSM stake mining is just one solution for making digital currencies cleaner and more valuable for all humans. The process of ALSM will not be trademarked or patented, and we encourage other developers of digital currencies to use or modify this system at will.
NUMA is an appreciating monetary unit cryptocurrency, utilising the abstraction layer solar mining mechanism, and begins trading in the USD/NUMA pair on the waves decentralised exchange on 4–24–2018 at 2:00 PM ET.
To participate in clean energy stake mining NUMA please register on the NUMA community forum, and check in on the solar stake miners board on the forum. http://numa.freeforums.net.
Alternatively you may contact Digital Currency Laboratories direct at the developer website https://digitalcurrencylaboratories.simdif.com