Even though internet service providers have steadily increased their prices by around 4% per year over the past decade, blockchain technology now enables the monetization of unused home internet connections by allowing anyone to become an ISP for their local community. and generate passive income.
PKT Pal co-founder Josh Berger said today that the “PKT Cube,” a powerful state-of-the-art computer designed to monetize unused Internet bandwidth, is an easy-to-use technology connected to the PKT blockchain, a protocol for Layer 1 powered by PacketCrypt, the industry’s first bandwidth-based Proof of Work (PoW).
“The PKT Cube is a quiet plug-and-play mining device that allows anyone in the world to monetize their unused Internet bandwidth and compensate users in PKT Cash every 60 seconds for the bandwidth that has already been paid and is currently being wasted, ”said Berger.
“From February 1996 to December 2020, the prices charged by Internet service providers increased by 250%, or 3.9% per year. These organizations have an 80% profit margin before interest, taxes, depreciation and amortization. And consumers are paying the price because they are helpless against price increases from their local providers and monopoly ISPs, ”said Berger.
Aliasgar Merchant, Developer Relations Engineer at Tendermint, said mining is a very common term used in Blockchain, especially Proof of Work Blockchains. “Mining refers to the exchange of resources – for example, computing power or Internet bandwidth in exchange for commissions or fees. In recent times, this has been popularized as a passive source of income. One such good example is exchanging available Internet bandwidth for compensation or fees. This exchange of bandwidth is done in blocks of 60 seconds, which makes it ideal for starting and stopping at the user’s discretion, ”he said.
He added that an ideal thing to do would be to unplug the device throughout the day when the internet is used at its most, and plug in the device at night when the internet is least used. This approach will make use of the unused internet and guarantee extra money while ensuring that your productivity and performance at work is not hampered.
Raj Kapoor, Founder – India Blockchain Alliance and Director of Growth at Chainsense LTD said that to date mining is not illegal in India, in fact there has been a slight increase in mining cryptocurrency in recent years. Companies such as Easyfi Network provide mining facilities and blockchain development in the country. There are other pockets of small-scale mining in parts of the country. However, no official information is available on this subject.
“Frankly, anyone with a computer can mine. Mining isn’t really complex either, and if you have one GPU – or ideally several – it’s incredibly easy to start mining Ethereum. All you need now is an account at a cryptocurrency exchange that accepts ETH, like Coinbase, you can just use your wallet address from that account with mining pool software, ”Kapoor said.
PKT is an open source community project offering a solution that would monetize a household’s internet connection by allowing anyone to become an ISP for their local community and earn passive income from their internet connection, which has always been seen as a cost. of difficult life.
More than a mining device, each PKT cube functions as a peripheral point supplying the PKT network. While mining PKT Cash does not require a PKT cube, PKT Pal hardware devices come preloaded with a proprietary operating system called PkteerOS, “designed to make obtaining PKT Cash as easy as plugging in the device. and to use a mobile application “.
The PKT network is end-to-end encrypted, which provides users with more privacy and security than their current internet connection. The PKT technology roadmap will eventually enable people to provide internet access to their neighbors through localized mesh networks (worldwide) and wifi sharing using cjdns technology. Through community participation and economic incentives, the PKT network infrastructure is decentralized with no venture capital investment, no company, no CEO, and no pre-mine.