Japan is well known for its enthusiasm about cryptocurrency, and is a leader in early adoption and technology development. When something new and exciting takes off in Japan, there’s a very good chance it will become popular around the world. This is why it makes sense to keep an eye on a company like Module, which is working to make crypto mining and cloud sharing easy and accessible for everyone by using unused storage available on the millions of mobile devices to mine crypto and as P2P cloud data storage.
Their system does away with the energy-intensive PoW (Proof-of-Work) algorithms that require specific hardware and upkeep and replaces them with their proprietary Proof of Space, Time, and Transaction (PoSTT) algorithm. Users are rewarded for the amount of space they share, the length of time the space is used, and the number of transactions checked. Virtually anyone with a smartphone will have the potential to be a crypto miner.
The company’s CEO and Director, Toshiki Tashiro, says, “Module seeks to break up the monopoly of mining in the cryptocurrency world through decentralization, by going mobile. This will also make mining more environmentally friendly. The more people who participate in the ecosystem, the more powerful and efficient it will become. That’s why we have engaged ICOBox, the premier provider of SaaS solutions for conducting ICOs, to help us get the word out about the project. They have helped companies around the world with their ICOs and know how to introduce this exciting technology outside of Japan.”
The UX-friendly mobile app will also offer DAPP solutions and even give users the ability to create their own apps for the App and Android stores. The platform will offer an innovative new type of cloud-based data storage featuring client-side encryption and will have “secret sharing” capability, which is possible since sensitive information is encrypted and divided into fragmentary pieces of information that are then stored in a multitude of separate places on mobile devices.