In Bitcoin and other PoW cryptocurrencies, a miner is an important player for the system 'cause they're the one who secures and maintain the blockchain. But, is that the only thing miners can do? The answer is no.
With Iagon, miners will be more important for the ecosystem, 'cause not only they'll secure the blockchain, but their computing power and unused storage system will be the one that powers up a massive cloud computer network. In other words, IAGON will create a "super-computer" and cloud storage system with the miners as its core.
According to IAGON whitepaper, there are four major players in the current cloud services industry: AWS, Google Cloud, Microsoft, and IBM. All of these big players utilize basically the same system: centralized computing power and storage. This mean, users who wanted to use their cloud services and computing power, need to trust them with their sensitive data.
To run such business, those companies need to prepare infrastructures, starting with storage devices, computers, networks, and so on. Theoretically, their computing power will be limited to how many computers they can afford to buy. All of those computers will be used to compute data, analyze patterns or other things that the users need. This requires a big computing power, money, and of course, electricity. (Kinda seems familiar to miners, isn't it?) It's no surprise that you need to pay a lot if you wanted to utilize their services because there are no other competitors on that field.
Statistical data reflecting the potential demand of cloud storage services
On the other hand, traditional cloud services also face some limitations, such as physical limitation. You can't build as many cloud center as you like because it requires massive area and building. Sure, there is SSD or other storage devices that are much smaller, but eventually, they'll also reach the limit. Not only that, building such a data center will only increase the probability of remote hacking.
That is why, in my opinion, traditional cloud services will have a limit at some point if this practice keeps going on. But, what if, we don't have to build a centralized cloud center to run the cloud services? What if we can use (in theory, all of) computers around the world to do this, just like cryptocurrencies mining does?
This is where IAGON comes to play.
IAGON comes with a new technology that will revolutionize how cloud computing & storage services work. I'll review some part of it, but I highly recommended you to read the full whitepaper if you wanted to know all of them. Because seriously, they have lots of interesting technology.
One of the new technology that IAGON brings to the market is the Smart Computing Grid and AI-Tracker technology. These two technologies will play an important role in the IAGON system, which in my point of view, will change how miners work in the crypto ecosystem.
Basically, Smart Computing Grid and AI-Tracker technology will connect multiple computers to compute or do the task that is needed by the consumers and has been submitted via IAGON platform. To do that, they will automatically allocate your unused storage and computing power to the network. In other words, miners in the IAGON system is the one that empowers the IAGON decentralized cloud services.
There will be a lot of things that miners will do. With their combined computing power and storage system, they can help data analysis, ranging from voice to image analysis. Consumers of IAGON platform can enjoy a lot of services available on the cloud, saving a lot of money and their personal resources.
Compared to the traditional cloud services, IAGON is more cost-effective and efficient. It doesn't require a lot of money for a company that wanted to take part in this cloud services, and they don't have to build a dedicated building for the data centre that is prone to hack and stolen by an insider because all of the data is distributed across the network, copied for redundancy and of course securely encrypted.
Miners can also take part in data mining. Interestingly, they don't need to store the data, but they only need to download and process it and then send the output back to IAGON for analysis. Because the nature of IAGON decentralized network, data mining doesn't have to perform complex processing because the load will be distributed across many computers via the proof of variance method. In returns, miners will get tokens based on the data points they mined.
In theory, the amount of computing power in IAGON network will only be limited to how many miners or members in the IAGON platform. Compared to traditional cloud services, this is much more efficient, because cloud & big data business doesn't have to own/buy computer or storage devices, saving a lot of money that can be used to further develop their own product. Miners will be the new cloud, that will further maintain the private blockchain (that is, data will be accessible only via IAGON network) of IAGON cloud network.
There is a lot of information about IAGON that you can find on their documents such as whitepaper. But based on what we've reviewed so far, IAGON seems interesting. Personally, I'd love to try IAGON platform with my smartphone (you got it right, I can be a miner using my smartphone in this network!) that I no longer use. What about you?
Note: This is not a financial suggestion. The author, IAGON and other parties mentioned in this article are separate entities. The author writes this article based on his own understanding about IAGON, readers should read the original document of IAGON by themselves. The author shouldn't be responsible for any actions taken by the readers, including but not limited to: joining IAGON bounty program, participate in IAGON token sale, and etc.
