The US-based tech giant did not specify when or if the patent would be realized as an end product.
Microsoft has filed an application for a patent on a cryptocurrency mining system fueled by data collected from people as they partake in activities like exercising, viewing advertisements, or reading. The application, which was filed with the World Intellectual Property Organization (WIPO) on Thursday of last week, was originally reported by CoinDesk.
The system laid out in the application is analogous to a proof-of-work mining algorithm, only much of the work would be done through data collection: sensors would detect and record activity associated with a certain set of tasks. The records would then be turned into data that can be read by computers to solve equations.
" A brain wave or body heatβ¦.can be used in the mining process"
"Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously," the application explains.
"For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process."
Microsoft also explained that the system could be used to incentivize users to complete tasks. The scanners that the system proposes would be able to detect things like mental concentration when it comes to reading an advertisement or heart rate during exercise; the data collected could be used to verify blocks and unlock rewards.
There is no indication as to whether Microsoft will be exploring the application's system any further or if it is ever planning on developing it. It's also unclear whether the protocol would be built on its own Blockchain, or on top of an existing blockchain.
The concept of using human activity to mine cryptocurrency, while it hasn't been placed into practice in any widespread sense, has been explored in the past--in late 2017, a Dutch Startup known as the "Institute of Human Obsolescence" found that collected over several overs, the body heat from 37 people produced enough energy for a computer to perform mining operations continuously for more than eight days.
Microsoft has filed an application for a patent on a cryptocurrency mining system fueled by data collected from people as they partake in activities like exercising, viewing advertisements, or reading. The application, which was filed with the World Intellectual Property Organization (WIPO) on Thursday of last week, was originally reported by CoinDesk.
The system laid out in the application is analogous to a proof-of-work mining algorithm, only much of the work would be done through data collection: sensors would detect and record activity associated with a certain set of tasks. The records would then be turned into data that can be read by computers to solve equations.
" A brain wave or body heatβ¦.can be used in the mining process"
"Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously," the application explains.
"For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process."
Microsoft also explained that the system could be used to incentivize users to complete tasks. The scanners that the system proposes would be able to detect things like mental concentration when it comes to reading an advertisement or heart rate during exercise; the data collected could be used to verify blocks and unlock rewards.
There is no indication as to whether Microsoft will be exploring the application's system any further or if it is ever planning on developing it. It's also unclear whether the protocol would be built on its own Blockchain, or on top of an existing blockchain.
The concept of using human activity to mine cryptocurrency, while it hasn't been placed into practice in any widespread sense, has been explored in the past--in late 2017, a Dutch Startup known as the "Institute of Human Obsolescence" found that collected over several overs, the body heat from 37 people produced enough energy for a computer to perform mining operations continuously for more than eight days.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Bitcoin Miners from Wall Street Bleed Red in Q3, but This One Company Bucks the Trend
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
π₯Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
π₯Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 β the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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Welcome to FMLS:24 β the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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π Don't miss out β secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 β the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether youβre in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
π Don't miss out β secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 β the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether youβre in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
π Don't miss out β secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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