What is Pieta & How it works?
Pieta is the world’s first blockchain project that aims to minimize the cost of cryptocurrency mining and make it more accessible and environment-friendly. It will be done with the use of the new X20 algorithm which reduces energy consumption in blockchain mining, this will keep the mining equipment cooler. This will result in increasing the life of the mining equipment and in turn the profit of miners. The low energy (carbon) emission will also have a positive impact on the environment. In addition, Pieta is also committed to encouraging the use of renewable solar energy in the crypto mining process to further reduce its cost and save the environment.
The thing to note is that blockchain mining consumes a lot of power. According to a research report, the Bitcoin mining network consumes over 2.55 gigawatts electricity, which is nearly equal to the electricity required to power a small country like Ireland (3.1 gigawatts).
- High Cost of Electricity and Mining Hardware is limiting Mining Rewards Today mining has evolved from being a single-room operation to an enterprise structure in itself. If you want to become a miner today the upfront cost for high-powered computer equipment coupled with the cooling environment setup requirement will make it difficult to turn profitable within the first few years. Hence, unlike the early stages of Bitcoin and other cryptocurrencies, today mining is an expensive affair and beyond the scale and capability of SMEs. Miners earn in cryptocurrencies based on a preset ratio against the total coins mined by them. This prompts them to employ maximum computing capabilities for maximum profits.
- High Co2 Emission Co2 Emission is one problem that tops the list of all template warnings released by global environmental watchdogs each year. In fact, the concern is so high that climate change and Co2 emission has dominated G20 World summit for the last few years. The 2018 G20 Summit saw declaration for focussed commitments on 2015 Paris Agreement by countries across the globe. Primary energy sources for electricity include coal, natural gas, uranium, the sun, wind or water. In developing and underdeveloped economies coal is used extensively over other sources because of its abun In developing and underdeveloped economies coal is used extensively over other sources because of its abundant supply and low cost. But a primary byproduct of producing electricity from coal is Co2.
- Limited Accessibility Blockchain and cryptocurrencies are still in their nascent stage. The crypto wallets are still an alien concept for a larger section of the global audience. A primary reason behind this is the technological know-how that users need to educate themselves with. This can be a big deal breaker considering the larger picture of global blockchain adoption.
The Pieta solution aims to reduce electricity consumption in the mining process by up to 50% enabling investors to gain better returns along with more bonus from their Pieta token investments.
- Solar Energy Pieta effectively deals with the cost problem of the traditional crypto mining industry by introducing a new kind of revolutionary Mining Platform which makes use of Solar Energy, instead of high-cost electricity, in the mining process.
- X20 Hashing Algorithm Pieta will be the first project that implements the new X20 algorithm for blockchain mining in order to increase the efficiency and security of the mining process while reducing the consumption of energy.
- Digital Wallet Pieta will soon launch a dedicated digital wallet enabling its investors to hold and transact their coins. It will be the first digital wallet for pieta to be hosted on the Windows platform.
- Mining Rewards Traditional mining platforms are greatly limiting miners’ ability to earn more rewards because of the high startup cost and the complex process. Pieta’s X20 Algorithm is designed to reward miners for all their activities on the platform in order to incentivize a positive network growth.
The rising popularity of cryptocurrencies demands a blockchain platform which is not only easy to adopt but also makes cryptocurrency mining cost effective. Pieta Blockchain Solution puts Customer and Miner interest ahead of its own for an all-inclusive blockchain solution. Affordable Mining coupled with cost-effectiveness will fastrack mainstream blockchain adoptability with operational profitability for Miners.
- At a time when wide-scale adoption of renewable energy sources remains a much-needed step for the greater good of the present and future generation, Pieta hopes to be the torchbearer for faster adoption of smart solar power and other renewable energy solutions that benefit daily platform users, traders, businesses, and miners alike. A part of the accrues from Pieta coin pre-sale and ICO will be used for putting into place a renewable energy solution that is economical, sustainable and most importantly socially fair.
- While part of Pieta While part of Pieta’s energy efficient blockchain solution will be driven by energy efficient Mining Hardware like ASIC from bitmain, a primary part of it will be software based too. At the core of the Pieta Solution is the X20 algorithm. The X20 Algorithm will not only make transaction fast, secure and scalable benefiting businesses and daily token users alike, it will also make mining an overly simplified process. The click and mine process will not only encourage common people with minimum technical aptitude to invest in Mining operation but also reduce the operational cost by a good factor for profitability. For starters, the X20 Algorithm coupled with the ASIC Solar Hardware will reduce electricity consumption by nearly half for miners. Hardware will reduce electricity consumption by nearly half for miners. This subsequently will mean lower transaction rate which will drive Pieta Coin usage and this demand will accelerate the token value and the in the process benefit token owners, investors, and the miners.
Low-cost, Renewable, Eco-friendly Solar Energy for Blockchain Mining
As the world moves towards a greener future powered by Solar and Wind energy As the world moves towards a greener future powered by Solar and Wind energy, Blockchain Industry, though still in its infant stages, must take steps now than later. Mining with each passing day is becoming an affair reserved for the status quo. In the long run, this can lead to a situation where a handful of few is in control of the entire cryptocurrency market.
Keeping these in mind Low-cost, Renewable, Eco-friendly Solar Energy for Blockchain Mining will save than just a few key fronts for the Blockchain Industry in the present and the future.
- Mining Accessible to One and All.
- Reduce Electricity Consumption for Making Mining Operations Cost-Effective.
- Preventing Mining Oligarchy and Centralisation of Cryptocurrency Economy
X20 Hashing algorithm to keep Mining Hardware Cooler (Reduce Power Consumption) The X20 Algorithm has the following two primary function and benefits
X20 Function Reduces Maximum Block size to 2 MB and Block processing/execution time to 20 seconds. This cryptic fragmentation allows for scalability and speed in transactions. Simultaneously runs/executes 20 Round of Hashes for real-time transaction verifications. Makes mining speed 20 times faster than other blockchains.
- Mining Efficiency: The reduced block sizes and block time can overburden standard Mining Hardware leading to processor overloading and heating. But with the X20 Algorithm, the processor stays cooler irrespective of the size and scale of the transaction pool. This renders a double advantage to a miner with prolonged life for mining devices and reduced power consumption.
- Lower Transaction Fees: As the block verification process is cooler and faster, Pieta can offer its platform services at nearly zero-costs. This means greater accessibility and adoption for blockchain and cryptocurrencies among masses.
Pieta Coin is a new-age digital asset with features apt to dominate the current landscape of decentralized cryptocurrencies and products. Powered by the revolutionary X20 algorithm, Pieta offers a blockchain environment that is not only self-sustaining but also offers inclusive growth opportunities for one and all. In sharp contrast to the current line of blockchain solution providers, Pieta offers an all-encompassing blockchain environment that rewards ICO participants, early investors, miners, service providers and seekers alike. Here’s a table that lists the Pieta Solution against other blockchain Solutions.
Why invest in Pieta Token?
Pieta is one of the most anticipated tokens of the year, both in terms of popularity and investor profitability. Besides providing multiple revenue options to the holders of the tokens, Pieta enables users to engage in quick and cost-effective blockchain mining for amazing returns.
Pieta will be one of the most successful of its kind! They have a great vision and purpose. This project requires attention. The idea of a team competition, the results achieved, the partnership. All these are indicators that this project has a great future, This project is a good and strong team, in a predictable and transparent road map, planned and projected growth in both the campaign and your money invested in it gives to assume that this project came to us one day. Definitely worth to participate!
Pieta is a Wonderful company with a good history, The technology of the future is not so simple, but this company has managed to prove to many people what they are capable of! This project has great prospects. Of course this time, I believe that this is the best project for investment
More info follows the link:
- WEBSITE: https://pieta.network/
- WHITE PAPER: https://pieta.network/WhitePaper.pdf
- ANN THREAD: https://bitcointalk.org/index.php?topic=5125926.0
- TELEGRAM: https://t.me/pietacoin
- FACEBOOK: https://www.facebook.com/Pietacoin/
- TWITTER: https://twitter.com/pietacoin
- MEDIUM: https://medium.com/@pietacoin
- LINKEDIN: https://www.linkedin.com/in/pieta-coin-308ab0179/
My BitCointalk profile: https://bitcointalk.org/index.php?action=profile;u=1045517;sa=summary
My ETH: 0xc57F5E28B98a12c8f4cC3f4C02d8B77546deF545