Monetize Unused Internet Bandwidth Using Blockchain Technology

Although Internet Service Providers (ISPs) have steadily increased their prices by around 4% per year over the past decade, blockchain technology now allows you to monetize your unused home internet connection. Blockchain allows anyone to become an ISP for their  community and generate  passive income.

On November 17, PKT Pal co-founder Josh Berger announced that the PKT Cube, a powerful edge computer designed to monetize unused Internet bandwidth, is  connected to the PKT blockchain, a Layer 1 protocol supported by PacketCrypt, the world's first trusted proof. He said it was an easy technique.

Bandwidth Operations (PoW). “PKT Cube is a silent, automatic mining device that allows everyone in the world to monetize unused internet bandwidth, and rewards PKT Cash users every 60 seconds for bandwidth that has already been paid  and is currently  wasted,” Berger said. said. ... “From February 1996 to December 2020, the price charged by ISPs increased by 250%, or 3.9% per year.

The organization has an 80% profit rate before interest, taxes, depreciation and amortization. And consumers pay because they are vulnerable to rate hikes from  local ISPs and proprietary ISPs,” Berger said. “Aliasgar Merchant, Developer Relations Engineer at Tendermint, said that mining is a very general term used in blockchains, especially proof-of-work blockchains.”

“Mining refers to the exchange of resources such as computing power or Internet bandwidth in exchange for a fee or commission. In recent years, it has become commonplace as a passive income source. One such good example would be to exchange available internet bandwidth for rewards or fees. This bandwidth exchange happens every 60 seconds, so it's ideal for users to start and stop at their own discretion,” he said.

He added that it is ideal to keep devices unplugged during the day when Internet usage is the highest, and to connect devices during the  night when usage is lowest. This approach leverages the unused Internet and guarantees extra cash so it doesn't impact productivity and productivity. Raj Kapoor, founder of the India Blockchain Alliance and Chief Development Officer of Chainsense Ltd, said that mining is not currently banned in India. In fact,  cryptocurrency mining has skyrocketed in recent years. Companies like Easyfi Network provide mining facilities and blockchain development in the country.

There are other small mining hotspots in some parts of the country. However, there is no official information  on this issue. “Honestly, anyone with a computer can mine. Mining  is also not that difficult and it is very easy to start mining Ethereum if you have a GPU, or ideally more than one GPU. Now all you need  is an account on a cryptocurrency exchange that accepts ETH like Coinbase. You just need to use that account's wallet address  with your mining software,” said Kapoor.

PKT is an open source community project  that provides solutions to monetize your home's internet connection, allowing anyone to become an ISP in your community and earn a passive income through an internet connection that has always been considered a high cost of living. Each PKT cube is more than a mining device and serves as a demarcation point that feeds the PKT network.

PKT Cash does not require a PKT cube for mining, but the PKT Pal hardware device is preloaded with a proprietary operating system called PkteerOS. The PKT network is encrypted end-to-end, providing users with more privacy and security than  current Internet connections. The PKT technology roadmap will ultimately enable people to provide internet access to their neighbors through localized mesh networks (worldwide) and WiFi sharing using CJDNS technology.

Thanks to community engagement and economic incentives, the PKT network infrastructure is fully decentralized without venture capital investments, companies, CEOs and pre-mining. Murtuza Merchant is a former journalist working for the Transform Group and deeply interested in the ever-changing world of cryptocurrencies.