April 25, 2018
Billions of dollars annually is being earned from Crypto miners. With ASICS taking over the Bitcoin mining market, and Ethereum switching to proof of stake, will there be a sudden drop in mining revenue?Some experts give a definitive “yes”.Mitch Steves of RBC Capital believes the coming switch to proof of stake on the Ethereum blockchain will significantly reduce mining on Ethereum (and the many coins based on it). “This means all chips (even custom-made chips for GPU mining) would not generate any value/profit”, he notes.
One alternative is Shardix. Shardix is a decentralized, globally scalable database company will provide one.Shardix is looking to disrupt a sixty billion dollar database market, facing down competition from industry names like Oracle, Google, and Microsoft.
“Database Miners” will be able to store shards of encrypted and replicated databases directly on the Shardix platform.They will be compensated for their excess bandwidth, CPU, and storage through the company’s token, ShardCoin (SDX).
“Prior to Bitcoin and other Crypto currencies, we would never have been able to facilitate this type of business. The cost of administering microtransactions around the world was way too prohibitive,” says Richard Nehrboss, the CEO and founder of Shardix.Miners currently mining coins such as Ethereum will be able to mine SDX simultaneously as the Shardix protocols are not reliant on heavy GPU processing.
"We are very excited to be developing a disruptive service like this. We have been having a lot of interest from database experts, and we are anticipating a strong reception to the product. Our model also provides a great source of income for individual ‘database miners’ to larger mining farms," said Nehrboss.
Shardix is developing a decentralized globally scalable database for trustless environments.Businesses will utilize Shardix database services at a fraction of the cost of traditional services from companies such as Oracle, Microsoft, and Amazon.
“Database Miners” will rent out their excess bandwidth, CPU, and storage capacity to store “shards” of the encrypted and replicated databases, and, in turn, receive ShardCoin (SDX) tokens which will be exchangeable for fiat currency at a later time.
By creating a database platform that is fast and secure in a trustless environment, Shardix will disrupt the traditional hosted and cloud-based database services.
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