All You Need To Know About Pieta Platform | Technology Overview
Pieta is the world’s first blockchain project that aims to bring down the high cost of crypto mining in order to make it more accessible and environment-friendly. To achieve this aim, Pieta uses solar energy, unlike conventional energy resources, i.e., electricity, to bring down the high costs of mining as well as reduce its adverse impact on the environment.
Along with this Pieta also uses the new X20 hashing algorithm in order to minimize the energy consumption by up to 50 percent by keeping the mining equipment cooler.
So, this will result in low energy requirement and high profits for miners. More and more people will start mining Pieta coins, but the supply will be kept limited, which will increase the value of Pieta coin in the market resulting in a high profit for the early investors in Pieta project.n
Here is a detailed technical overview of the Pieta ecosystem that makes it a renewable and efficient energy solution for businesses of all scale and size:-
X-20 hashing algorithm
Pieta ecosystem uses the new X20 hashing algorithm for mining of coins, which is a cost-effective solution to mining problem. The X-20 algorithm parallelly executes 20 hashes to verify a particular transaction faster well as reduce the processing load on mining equipment. This makes the mining equipment cool and reduces the energy requirements by up to 50 per cent. Along with this, the X-20 algorithm reduces the maximum block size to 2MB whereas block creation/execution time to 20 seconds to improve transaction speed.
Use of Cost-Efficient Solar Energy
Pieta, unlike other blockchain mining projects, utilizes the affordable solar energy for the mining operations, which can be further used by the investors, miners, and Pieta token holders for mining operations as well as personal/business purpose. The use of conventional energy resources requires miners to bear high electricity costs every month whereas solar energy will help miners on Pieta ecosystem to avoid heavy monthly energy expenses. Adding to this Pieta will utilize a portion of ICO funds for development of solar-powered mining firms and rigs in the African region and many other countries.
Distributed Ledger Technology
Pieta is a blockchain powered viable energy source for miners, investors, and multiple enterprises. Pieta uses the distributed ledger capabilities of blockchain to provide a highly secure and transparent trading environment to all the investors. Along with this, a shared distributed ledger will be used to store and update all the solar farms’ production data in real-time.
Pieta Digital Wallet
Pieta after completion of ICO sale will launch a featured packed digital wallet platform for all the Pieta token holders and investors, which will also support a number of digital currencies.The use of Pieta crypto wallet will enable the users to manage all their coins at a single place. The wallet will be integrated with the Pieta ecosystem so that users can trade and exchange their tokens on external exchanges as well as use them for mining.
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