Computers are a part of us. It’s like we can’t function the way we used to a decade ago without our tablets, laptops, alarm clocks and servers at work. We are always close to a computer. Internet-connected devices have become part and parcel of our lives. And so has data, with internet connected devices transmitting data on just about anything across the globe through cloud processors. Yet there could be an underutilized computer lying somewhere around us.
So what are we saying?
So much untapped computing power surrounds us. How about transforming the idle compute into a global marketplace?
And that’s where Fogcoin comes in.
What Is FogCoin?
Fogcoin is a block-chain based cryptocurrency. ActiveAether is a project that offers patented technology for deploying location-neutral web services. The technology allows anyone with a computer to earn Fogcoin on devices you own but are not using. Through the reliability and speed of a distributed network, you can rent processing power and benefit wherever you are.
For software developers, Fogcoin offers a simplified deployment process with no vendor lock-in allowing you to leverage a competitive global market for compute. In a market previously dominated by particular cloud providers, an introduction of diverse and variant hosting providers introduces healthy competition.
Fogcoin also provides a decentralized network where instead of channeling services exclusively to and from hosting providers, available compute and currency flow are matched between members of the network.
How Does Fogcoin Work?
Fogcoin works by rendering computing resources widely available for software services to be matched with available hosting resources in relation to demand. This seeks to act as an incentive for users to join the network, promote competition among host providers and eliminate vendor lock-in. As a result, there is a redistribution of cloud profits.
Because hosting is global, clearing a charge in one location for CPU time in another part of the world is unscalable. For this reason, ActiveAether project was introduced as a decentralized payment system to avoid cloud-like central congestion. It makes use of the blockchain technology which distributes ledgers across the vendor networks. Over the years since the ActiveAether project was implemented the blockchain technology has matured as a hierarchy-free distribution system to be powerful, reliable and effective in recording transactions between parties. The Bitcoin and Ethereum blockchain networks have worked to eliminate the bottleneck of a centralized transaction processor.
ActiveAether makes use of the Fogcoin tokens. The use of the Fogcoin cryptocurrency enables distributed transactions between different individuals in completely unrelated locations. It is the only acceptable transaction in the project. The value of this block-chain cryptocurrency is determined by the value and quantity of computing resources available in the market.
For ActiveAether to be successful, financing of the project has to be achieved. Rights to a portion of the Fogcoin token supply are up for sale. With this project and activities, any individual or organization around the world can be vendors or consumers of computing resources.
FogCoin ICO Details
FogCoin is holding a pre-registration for the ICO inside round which is now available to accredited investors. You can check their website or ‘sign up for updates' as the Public ICO dates are to be announced soon.
Fogchain is definitely the future of compute, transforming idle compute into a global marketplace.