Genaro Network aimed at Sustainability
Mining cryptocurrencies became one of the hottest & most profitable sources of income across the globe. People who began mining early became wealthy fast. At the start, miners could use a simple home computer to earn a bitcoin. With more people mining bitcoin, the amount of energy required increases. Nowadays it takes a massive amount of energy to power the computers needed to solve the algorithms necessary to receive the rewards. The costs of setting up and running a mining operation is not profitable today. The amount of power needed to run a mining computer such as the Antminer s9 (Cost $8,200) constantly for one year is around 15,000 kilowatt hours producing approx. 0.85 bitcoins per year. Energy costs of mining a single bitcoin can range from $3,200 (in Louisiana) to $9,400 (in Hawai’i).
Sustainability and taking into consideration the impact being made on the environment should be at the forefront of people’s minds. While I do not think that all of the world’s energy will be consumed by 2020 because of bitcoin mining, I do think that mining the coin is becoming harmful to the environment. In China, where most mining takes place, fossil fuels are being used to power operations, causing further damage to China’s ecosystem.
‘Mining’ on the Genaro Network does not cause such harm on the environment. It can be done on a home computer, because miners on the Genaro Network share hard drive space instead of using exorbitant amounts of energy.
Genaro Eden is the first Dapp built on the Genaro Network, which allows users to store their data on Genaro’s public blockchain, giving them unparalleled security. That data is encrypted and separated into different pieces, which is stored on different nodes across the network. A benefit of becoming an Eden user is that with more users, costs for storing data will go down.
Genaro Sharer allows users to earn rewards for sharing their hard drive space. This creates a global ecosystem. The Genaro Network ensures that data is stored on the nearest node, which ensures data can be efficiently accessible. Sharer is sustainable, because it allows for the optimization of empty space, giving both parties benefit. Unused space does not remain idle, rather it can store others data, but also enable ‘Sharers’ to earn rewards as well.
Genaro Eden sells unused space to make storage more economical and environmentally friendly and sets the stage for the optimal allocation of resources. That is what we call “green computing!”
The Genaro Network understands taking care of the environment is important. Genaro Network is dedicated to sustainable solutions & is pursuing the elimination of damaging environmental impact which has been associated with the mining of cryptocurrencies. The ecosystem created enables for parties storing data and sharing unused space to benefit, while also optimizing hard disk space, which is often left unused.
