Microsoft is developing a cryptocurrency mining system using’EEG’… Will it become a reality?
Microsoft is developing a system that links physical activity with cryptocurrency mining, Cryptopotato reported on April 4, 2021 (local time).
According to the patent data of the World Intellectual Property Organization (WIPO), in the March 2020 patent application’Cryptocurrency System Using Physical Activity Data’, a new proof of work ( PoW) method was presented.
Microsoft explained, “If the user’s physical activity data is adopted as a proof-of-work (PoW) method instead of the large-scale computational work required by the existing cryptocurrency system, the user can unconsciously process the mining operation.”
When a user performs a specific activity with a sensor connected to his body, the mining operation is activated and token rewards are provided. According to the patent application, companies or organizations can set working conditions for mining, such as viewing advertisements, using Internet services, and reading full articles.
The sensor detects the user’s task performance and registers it as a hash value. If the hash value meets the conditions set by the system, cryptocurrency is rewarded, otherwise the block is discarded.
Transactions are recorded on a blockchain specialized for physical activity-based mining. Public blockchains or private blockchains can be used. It can involve complex communication between the body, a central computer/server that reads and processes data, and other systems responsible for transferring information and verifying information and transactions.
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Prior to technology implementation, companies apply for patents to guarantee rights to products or services in the conceptual stage. The patent application raises expectations that Microsoft will present a routine mining method that will replace the expendable mining method in the future. No details or progress were disclosed.
Microsoft is striving to be competitive with cryptocurrency and blockchain. From 2014 to 2019, there were 227 blockchain technology patents approved by the U.S. Patent Office.
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