mining - Mining Power is not a Waste of Energy: Could be Used for Neuroscience

Mining Power is not a Waste of Energy: Could be Used for Neuroscience

We use to hear that the cryptocurrency mining is a very power-consuming activity. Most of the Bitcoin enemies complain that Bitcoin mining is a waste o energy compared with other industries and that this is a speculative mania. But bitcoin mining and all this power is not only used to mine Bitcoin. Similar systems are used for Artificial Intelligence and neuroscience.

Neuroscience and AI Benefited

The BlockShow Asia is one of the most important international events for showcasing established blockchain solutions. We know that blockchain can be used for banks, governmental activities and money. That’s why, Yangdong Deng, chief AI scientist of Matrix, explained how bitcoin mining combined with artificial intelligence could be used for scientific innovation.

Bitcoin mining consumes 17 percent of the total global computing power. If we compare the bitcoin mining power with countries, Bitcoin would consume much more energy than several countries around the world. The current computing power used by bitcoin miners is 8.23×1022 floating point operations per second (FLOPS). The total computing power in the world is 1.2×1023 FLOPS.

For example, a brain network stimulation requires 1018 FLOPS and a complete human metabolic network stimulation needs 1025 FLOPS. Many complex simulations require important amounts of power that can be potentiated with Artificial Intelligence.

“We can do many useful things outside the cryptocurrency world, like chemical reaction simulation, video analytics, medical diagnosis, like finance modelling and so on. We could use this power to do real stuff, to generate universal values,” said Yangdong Deng at ta conference.

Matrix wants to change how mining algorithms work including Artificial Intelligence to them. The way of doing it is through a Bayesian mining system with special MCMC algorithms.

This will be another way of using the blockchain technology in order to make life better. When a new technology disrupts, then it keeps spreading over other different fields and uses. For example, Moscow is using blockchain technology in order to let its citizens vote in the active citizen program.