No Mining Required: the Benefits of Becoming a Datakeeper
Rapidly evolving technologies in the blockchain and cryptocurrency industry are moving away from the outdated Proof-of-Work consensus mechanism and the concept of “mining” altogether. This shift is driven by several compelling reasons.
The term “mining” was adopted from the mining industry and accurately describes the process of extracting bitcoins and other coins through labor-intensive activities that require powerful equipment, significant energy consumption, and specialized knowledge.
However, this term may not apply to other blockchain activities, especially those related to providing resources in specialized networks.
On September 15, 2022, Ethereum underwent a significant transformation known as The Merge, transitioning from Proof-of-Work to Proof-of-Stake. Following this, on March 13, 2023, the Shapella hard fork was launched on the Ethereum mainnet, allowing validators to withdraw their staked ETH and rewards from the Beacon Chain.
This change has resulted in the elimination of “miners” on Ethereum, which is currently the second-largest blockchain network by market capitalization. Now it’s not miners, but validators who ensure network consensus by staking coins to form, propose, and verify blocks. In other words, network security is now provided by those who are the most interested in it: they hold more coins (to become a validator you have to deposit at least 32 ETH) and process transactions faster while staying connected longer. This process no longer involves mining.
What’s wrong with “mining”?
The practice of touting high profits, limitless rewards, trips to the moon, as well as emphasizing the early stages of an industry has fallen out of favor. The industry tends to favor names that convey reliability and stability over ones that imply a focus on short-term profits or uncertain prospects.
The functioning of any specialized network relies on specific nodes that perform designated application functions. It seems odd to refer to these diverse activities as “mining”. In reality, we don’t use the term “mining” to describe the process of growing carrots, for example.
There’s nothing wrong with mining, as long the term is applied properly. Specialized networks are supported by participants who provide resources for the use of others. If a network participant provides resources, they should not be labeled as miners. Rather, these noderunners are responsible consumers who offer the network additional resources that they may have in excess and want to share for a reward.
The name game
In the DeNet network, noderunners provide storage space for users to store their data and receive tokens as proof of their contribution. However, this does not classify them as miners. What do we call such participants then?
DeNet eliminates the term “miner” in favor of “Datakeeper” within its ecosystem. This is because becoming a Datakeeper does not require specialized equipment or knowledge associated with mining cryptocurrencies like Bitcoin.
DeNet developers have made it easy for anyone to become a Datakeeper without any barriers to entry. Even inexpensive single-board computers like Raspberry Pi can run DeNet Nodes efficiently.
Currently, you can run your own DeNet Node using a command-line utility for Windows, Linux, and Mac. However, it is planned to add the feature to the graphical interface in the future, making it even more accessible. To enable the “Datakeeper” mode you’ll just use one button.
DeNet is changing the game for those who want to actively participate in network development and scaling while receiving fair rewards. Join the “non-mining” approach and become a Datakeeper today.
