Dubai, UAE, July 18, 2022, ZEXPRWIRE, EcoWay team is very pleased to introduce its solution, one of the first large-scale farming infrastructures dedicated to Proof-of-Spacetime consensus method, that has been flourishing into an attractive staking platform – but not only because of the yields they offer. The company opted for Chia Coin and its Proof-of-Spacetime protocol, a far more energy-efficient consensus method, while partnering up with a local photovoltaic farm to meet their already low energy needs. This makes EcoWay one of the first green farming services that does not require users to possess their own infrastructure. It is the green revolution the crypto industry needed.
Remarks by EcoWay CEO Mariusz Poplawski: “A year ago, we were one of the first companies to invest in research and development of a new, ecological way of acquiring cryptocurrencies. Today, we are glad to present the result of our work.”
The crypto craze of recent years has seen many people diving into the mining business. While making profit was an achievable goal, two issues have become apparent when talking about Bitcoin’s Proof of Work protocol: energy consumption and hardware availability. To respond to this issue, EcoWay created their farming infrastructure a little over a year ago with scalability and automation in mind. It now has 170 plotters, totaling 3500 drives and an impressive 25 PB of space.
EcoWay allows users to stack ECY tokens, EcoWay’s BEP-20 token, to farm Chia Coins—as well as any of its forks that pass our audit process—without the need for a hardware setup. Besides several rounds of public distribution, the ECY Tokens will be available for sale on external (both centralized and decentralized) stock exchanges independent of EcoWay.
The Proof-of-Spacetime protocol was introduced in early 2021 by Bram Cohem, founder of Chia Coin, but notably also the father of the world-renowned BitTorrent peer-to-peer protocol. EcoWay provides the necessary hard drive space to the Chia network, and in return distributes the benefits produced to the stackers of ECY.
Contrary to mining, which uses graphics cards to mine blocks requiring a lot of energy, farming uses hard drive space, through Proof of Space which verifies and rewards the user for keeping the reserved space unaltered. The value of storage does not come merely from the capacity, but also the time over which that capacity is used.
Launched in February 2021, EcoWay gathers investors experienced in the implementation of photovoltaic and wind energy projects, as well as the development of computing power projects for the ERC20 protocol. The team, led by CEO Mariusz Poplawski, also enjoys strong international relationships with developers, funds, banks, private equity and energy sector firms. More information as well as the roadmap to be found on their website.