The Chia Coin-powered Proof-of-Spacetime consensus method seeks to open up green crypto staking to the masses.
The EcoWay team is very pleased to introduce its solution, one of the first large-scale farming infrastructures dedicated to Proof-of-Spacetime consensus method, that has been flourishing into an attractive staking platform – but not only because of the yields they offer.
A considerably more energy-efficient consensus technique called Chia Coin and its Proof-of-Spacetime protocol were chosen by the corporation, together with a nearby photovoltaic system to fulfill their already low energy requirements. For the first time ever, EcoWay is a green farming service that doesn’t need its customers to have their own infrastructure to utilize. The crypto business has been in need of a green revolution for a long time.
“A year ago, we were one of the first companies to invest in research and development of a new, ecological way of acquiring cryptocurrencies. Today, we are glad to present the result of our work,” EcoWay CEO Mariusz Poplawski remarked.
Crypto Mining Mania
Many people have jumped into the mining industry as a result of the current crypto mania. While it was possible to benefit from Bitcoin’s Proof of Work algorithm, two difficulties have emerged: energy consumption and hardware availability. EcoWay’s agricultural infrastructure was built with scalability and automation in mind a little over a year ago in response to this challenge. In all, it currently has 170 plotters with 3500 drives and a mind-blowing 25 PB of storage.
EcoWay allows users to stack ECY tokens, EcoWay’s BEP-20 token, to farm Chia Coins-as well as any of its forks that pass AN audit process-without the need for a hardware setup. The ECY Tokens will be accessible for purchase outside of EcoWay on both controlled and decentralized stock markets, in addition to numerous rounds of public distribution.
How Proof-of-Spacetime Works:
The Proof-of-Spacetime protocol was introduced in early 2021 by Bram Cohem, founder of Chia Coin, but notably also the father of the world-renowned BitTorrent peer-to-peer protocol. EcoWay provides the necessary hard drive space to the Chia network, and in return distributes the benefits produced to the stackers of ECY.
In contrast to mining, which makes use of graphics cards to mine energy-intensive blocks, farming makes use of hard drive space through Proof of Space, which validates and rewards the user for maintaining the allotted space unmodified. The value of storage does not come merely from the capacity, but also the time over which that capacity is used.
What is EcoWay:
Launched in February 2021, EcoWay gathers investors experienced in the implementation of photovoltaic and wind energy projects, as well as the development of computing power projects for the ERC20 protocol. Additionally, the team, led by CEO Mariusz Poplawski, has a long history of working with foreign investors and developers. More information as well as the roadmap can be found on their website and the following social links: