‘PoPW’ SECTOR

Proof of Physical Work protocol encapsulates real-world use cases

The blockchain protocol rewards users for performing verifiable physical work like deploying a 5G hotspot etc.

It has always been a challenge for even the most die-hard blockchain/ crypto evangelists to explain real-world use cases to a layman. And this debate rekindles every time we see a downturn in crypto markets, like the one we are currently going through. Critics are quick to point out the weaknesses in the blockchain ecosystem. Most of them shoot down the idea of cryptocurrencies becoming an alternative payment system — owing to their extreme volatility and lack of scalability.

While some of these criticisms have some merit, you can’t write off the novel tech completely, as it is still in its early stages of evolution. And many projects point to a promising future for blockchain technology. The idea of non-sovereign money, the absence of an overpowering centralized authority, permissionless & borderless protocols, peer-to-peer micropayments, and financial inclusivity are far too enticing for many to write off.

Some of you might be more familiar with the Proof of Work (PoW) and Proof of Stake (PoS) protocols — where the prior is used by the Bitcoin network…