ProtoCoin

The first environmentally sustainable cryptocurrency

ProtoCoin is a new age cryptocurrency which makes the process of mining efficient by ensuring that the immense computational power used to solve trivial cryptographic hash functions is put to use.

  • Sustainable
  • efficient
  • revolutionary

Working

The traditional mining system uses GPU power to solve a hash functions which are NP complete, but this process yeilds no viable result. By substituting this with complex problems in computational biology like protein folding or genome editing, the process becomes way more efficient and will drive scientific research.

Inspiration

We, as a team, were inspired to tackle the increasing threat of climate change and global warming. After learning that cryptocurrencies were one of the major contributors to global warming, we knew that we had to do something to improve the process. This passion for sustainability lead to the inception of ProtoCoin.

Learning

This project gave us a valuable insight into blockchain development and implementing a blockchain from scratch in python. We also became familiar with improtant theoretical concepts like NP completeness and proof of completion concept.

Future Scope

The Proof of Work system for any NP Hard problem that will help find a cure for Alzheimers, Parkinsons and other such diseases through protein folding and genome sequencing.

Share this project:

Updates