Since the dawn of digital currency we have always been bothered about the monetary value associated with it. A lot of processing power and electricity is being spent on mining to process the transactions happening over the bitcoin network. Miners have indulged in the process of finding sequences of low hash value with the sole purpose of gaining miner’s fee.
Bitcoin value is said to be related to the network size and the number of transactions that happen over the network. Now, what if the same processing power, or even a part of the processing power is diverted for a similar mining process with a social or a scientific cause associated with it. Well, there is one such option available for those who would want to use their processing power for good (I am not saying bitcoin is bad… No way! Bitcoin is awesome too, but in its own way). Folding@Home, a project by Stanford University started in 2000 has now adopted blockchain technology to create something called FoldingCoin.
Mining for the benefit of mankind
Folding@Home initiative by Stanford allowed individuals to contribute their spare processing power to simulate complex protein folding. The project didn’t involve any rewards, but just points