The internet of things (IoT) technology is gradually attaining greater significance in the society of today and the amount of IoT devices rose as high as 9 billion in 2018. These IoT devices are not restricted only to industrial applications but are also spread out to even home gadgets and equipment such as smart TV's, smart refrigerators, ovens and a host of other domestic appliances. No wonder research has evaluated that there will be over 20 billion IoT devices by 2020.
Majority of these IoT devices are designed for specific applications and while not in use their CPU tend to lie idle. IoT devices are also notable for their high computational power and consumption of electricity, therefore a system to properly harness the power of these devices and optimize the cost-effectiveness is pivotal in ensuring the growth of the industry.
uPlexa is a blockchain platform which seeks to establish a global network of IoT devices and optimally harness the computational power while rewarding the owners of these devices. uPlexa uses the idle resources of these IoT devices to power an anonymous, swift, scalable and secured blockchain payment system that can be used by all and sundry. IoT devices consume a lot of electricity and are quite expensive in some parts of the world herby making it difficult to run these devices most especially in regions with exorbitant electricity tariff but with the uPlexa solution IoT device owners can earn a portion of the expenses spent on running their IoT devices in the form of the uPlexa coin(UPX) by engaging in IoT mining on the uPlexa platform.
The uPlexa IoT mining solution is available on a host of IoT devices simply by running the uPlexa mining software. These IoT devices include Smartphones, tablets, Smart TV's, Smart Cars and any other innovation the IoT industry will conceive in the nearest future. The IoT mining experience on the uPlexa platform is designed to be profitable for IoT devices and the mining software consumes lesser CPU compared to some mobile applications such as Camera, facebook.t.c. The uPlexa platform also uses a modified variant of the cryptonote algorithm to ensure the mining process remains viable and safe. With the uPlexa coin(UPX) as the principal currency of the platform, the uPlexa platform can also reward merchants who utilize uPlexa API on their platform. In this case, customers of such merchants get access to credits in return for connecting their IoT devices to the merchant website. The image better explains this scenario.
In conclusion, uPlexa vision to harness and incentive the computing power of the growing IoT industry is a remarkable concept. The amount of IoT devices in circulation will continue to grow with more innovation in the industry and rewarding the growing number of IoT device owners will help the uPlexa platform tap into the wealth of computational power and resources often left idle, and this will give rise to an uPlexa blockchain that is superior in terms of decentralization, scalability and transaction performance compared to what is obtainable in the crypto eco-sphere of today.
To learn more about uPlexa, check out the following channels :
Website: https://uplexa.com
WhitePaper: https://uplexa.com/content/uPlexa-Whitepaper-EN.pdf
Discord: https://discord.gg/a7mAQwJ
Medium: https://medium.com/@uplexa
Reddit: https://www.reddit.com/r/uPlexa/
Github: https://github.com/uplexa/
Twitter: https://twitter.com/uPlexaCoin
Facebook: https://www.facebook.com/uPlexa
Writer's info:
BTT username: Mrsparks
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