Blockchain technology has come to the central stage of the digital economy, introducing us to a better version of our society—in spite of one thing that keeps it at the center of controversy; and that is the waste of energy and computing power caused by PoW mining.
Based on research, 70% of the world’s total computing power is consumed for mining cryptos, which is million times what Google utilizes. While mining energy consumption also takes up 0.5% of the world’s total, relatively in excess of the combined usage of many countries. The challenge nowadays is the fact that mining does not create any real value for society in a more conventional sense, and is thus perceived by many as a definite waste.
With this opportunity, Matrix will take the “More Public Benefits” approach as one of its missions. Previously Matrix introduced AI computing into its consensus algorithm and invented Hybrid PoW to utilize spare computing power. And now we are about to welcome another breakthrough: heat from mining farms will be used to warm up cities.
The mechanism behind this is to use insulating liquid to collect heat emissions from the Apocalypse miners, and then send the energy to where it’s needed with the help of an AI-assisted Heat Exchange System.
Most of North China utilizes central heating during winter, which obviously could harm the environment. Matrix’s new method will help not only to lessen the harmful impact on nature but also pioneers a less wasteful mining solution with environmental protection as a top priority.
According to Official Account of Internet Information Office of Yili Xinjiang, Dadamutu Village School in Ghulja, Xinjiang was the first to experience this innovation. For the entire winter of 2020, heat from Matrix’s Apocalypse mining machines kept those classrooms and dorms at a temperature above 24 degrees, using only a third of the energy compared to furnaces.
For teachers and students at Dadamutu Village School, this is an exceptional experience. “The new heating method does a wonderful job of keeping our offices and classrooms warm,” said Teacher Liu Ning. “We don’t suffer from the black smoke from furnaces anymore. The air is fresh to breathe. Now spring has come, and we can wear T-shirts in school.”
The local environmental authorities also expressed their approval with a positive impression. “We are committed to implementing new technologies to protect our blue sky. Since the pilot project with Matrix at the local village school works out well, we are considering promoting the heating method in the whole city.”
Xinjiang is home to a number of power plants in China and has been plagued by heavy carbon emissions for years. By introducing this revolutionary heating solution, Matrix is delivering on its mission by pioneering a greener future of “carbon neutrality” in the region.
Matrix is still working on further improvements of this technology for use by other blockchain projects. This is yet another step to making crypto mining greener and more beneficial to society.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.