Hello Project PAI Community! Here are this week’s updates.
Whitelists, Mining, and PAI Coins
Mining, mining, mining - it’s a crucial part of every blockchain protocol, incentivizing people to provide their computing power and allowing new transactions to be recorded and added to the blockchain. But while mining is key to a successful blockchain protocol, how mining is conducted is also a huge challenge for the entire blockchain industry. Preventing exploitation, energy waste, and maintaining security are all tied to how blockchain developers approach the challenge of mining.
As an open source platform, Project PAI is familiar with the opportunities and challenges mining brings. While the contributing developers work on better mining solutions, including a PoW/PoS Hybrid Mechanism and a future Proof of Useful Work (PoUW) protocol that will enable mining power to be used for AI computation, Project PAI wants to maintain transparency with the community regarding current mining practices. That is why this week, the Project PAI Foundation released the following statement, in order to help explain some of the most frequently asked questions about mining on the PAI Blockchain. We want to share the below statement so that the community can understand why mining is currently whitelisted, what plans are in the works to open up mining to the public, and to assure everyone that none of the current whitelisted miners are profiting from mining on the PAI Blockchain.
In the News
If you’re still interested in learning more about different ways Project PAI wants to innovate the blockchain mining process, you should check out this recent article from BitsOnline regarding Project PAI’s proposal for a hybrid Proof of Work and Proof of Stake consensus mechanism. Want even more details? Read the original whitepaper here.
Happy Valentine’s Day! Can’t wait until we can send our PAIs to buy presents and make dinner reservations for us
See you in the next issue of PAI Updates full of technology developments!
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