Bitcoin Forum

I was wondering if any has any direct experience with Proof of Useful Work (PoUW) and what challenges and limitations you have, if any.

I just got introduced to it, and it seems like a fascinating consensus protocol that allows its miners to do useful work that can solve real-world problems like data classification, protein folding, deepfake detection, etc.

And you can also mine coins like Flux, REM, and PAI Coin. Curious if anyone here has any experience in this. Thanks in advance!

For what i know it hasn't been roled out just yet. But it's indeed a interesting protocol. I'm looking forward to the reactions here.

I saw this opportunity in CLORE coin mining, but additional income is provided by holding CLORE coins in your wallet. But this is not staking. The project pays additional rewards to miners if the miner does not sell their coins. Another way to make money comes from renting out equipment, but there are more self-renting scams now, because the reward is more profitable than the service commission.

POuW requires GPUs with good processors and ram with many lanes and usually 8x to 16x PCIe bus speeds.

It makes me wonder how things like dynex are real with all the GPUs are on 1x speeds.

The "POuW" stuff people actually pay for like on vast.ai are very expensive.

The administration of rental services recommends setting the stock settings for the video card and specifying the characteristics of the equipment. Not all tasks require 8x to 16x PCIe bus speeds. If you bought an expensive motherboard for this, then it will be a plus for renting out, but so far it is not profitable. In most cases, mining farms mine cryptocurrencies and are not rented for useful computing.

Back when I first heard about Bitcoin and mining, i actually assumed that POW was doing something similar. I didn’t realize it was just wasted electricity. I assumed we were all hashing to crack some code, folding to solve cancer, etc.

I think ETH should of designed their old POW as such which can do actual work and imagine how much would of been solved throughout all those years of miners mining ETH.

It’s a great idea however I don’t see POW making a comeback anytime soon.

POW making on video cards may come back if Nvidia and AMD want to increase sales of their video cards. The price of the Casp coin is growing because the manufacturers of ICERIVER KAS KS3 want to profitably sell their equipment at a high price.
Not all video cards are suitable for PoUW.

I did some digging and apparently DYNEX is being accused of being a scam https://github.com/ares-austria/DynexSolve/blob/main/dynex-daniel-mattes.md (https://github.com/ares-austria/DynexSolve/blob/main/dynex-daniel-mattes.md).

In essence POuW are the future or should be because they would solve various problems because of the computing need , but they are a bit green from what I researched .

I’m not familiar with PoUW but it seems like the obvious next step. I’ve always thought that one day mining would be used for something beneficial. Artificial Intelligence seems like an obvious match. Especially given the similar needs with GPU clusters. Seems like a perfect match. Whoever figures out how to do that will be a wealthy man.

Well, it may turn out to be the next trend as metaverses. For such calculations, it is not always possible to use standard mining rigs. There are many points on the selection of equipment and Internet speed, and such standards will not always be convenient for miners because of expensive investments and without guarantees of profit.