Next Level ZelFlux
Community Member Submission:
Thanks to Abe.Chua for this awesome writeup on how he sees the current value add for Folding@ Homes and an overall 10,000-foot view of the Flux projects moving forward in the future, enjoy!
I think the ZEL team made a very correct and fantastic business decision, let folding@home as a showcase app of ZelFlux, let the distributed computing power base on ZelFlux for humans to fight disease research to provide the value. Suppose ZEL has a better price in the future, more than half of Zel will already be distributed based on POW by then, and further reduce Pow’s assignment ratio to let ZelNodes run Pos consensus algorithm at the same time. It has changed the way of distribution, that parts of reduced the security of the Zel chain by POW will provide incremental supplements by the POS consensus algorithm while improving the benchmark requirements of ZelNodes, or providing a select ZelNodes type of super parallel CPU cores, and a large part of these computing power is for folding@home. In this way, the acquisition cost, hashing power cost, of additional Zel will be converted into public service for humans. Rather than the Bitcoin controversy, a lot of electricity is wasted to play hash games. At the same time, it avoids some kind of controversy about POS coin’s low acquisition cost into a financial hype tool so that POS’ green-friendly consensus mechanism also works.
The part of the cost of providing public services to humans is injected into the Zel ecosystem so that Zel, as a circulating credit unit of the ledger, has a different value support base than other cryptocurrencies. Of course, other public research projects that require distributed supercomputer computing power can also be added to the Zel ecosystem. It is true that there are a large number of potential commercial apps that can be run on ZelFlux in the future to expand the Zel ecosystem. But now, from a value perspective, there is still a long way to go. Those gambling apps running on many blockchains are far less meaningful than apps like Folding @ Home. The issue of the physical cost injection of POW and POS is also a critical issue for cryptocurrencies. Increasing the proportion of public service computing power as a meaningful physical cost injection makes Zel unique as a cryptocurrency itself. It will get rid of the shadow of forked Pow coins and establish a unique style of cryptocurrency impression.
The reason for the above point of view, like bitcoin, is to maintain the security of the chain based on the super high economic cost. The current 1000 ZelNodes are far from enough. It is difficult for ordinary commercial applications to satisfy the ambitious value bearing. GPU Hash computing power consumption did not solve the fundamental problem. So I think this is a perfect ending plan, to a certain extent, it surpasses Satoshi Nakamoto’s early view of physical cost injection.
The price of Zel will be affected by the double impact of HASH computing power and VPS cost. But it is limited by the total number of ZEL, so the peak of the number of ZelNodes will be around 2000. Aside from the possibility of value injection by DAPP in the future, it similar to other master-node coins, such as Dash and Zen, in many parts. Use massive high-value computing power consumption, reduce HASH rewards, and increase VPS costs, which will be complete the migration of hash dependence to computing power dependence.
The Zel Team have done an excellent job and look forward to Folding @ Home going online soon, and I believe that you must still have many surprise ideas to be realized in the future.
When I found folding @ home as a Zelflux case, I wanted to write some feedback, but considering the depth of thinking, its potential, and the problems that have always been troubled, the real cost that Satoshi Nakamoto believes is injected into Bitcoin and used as the basis of Bitcoin value from the early views. But we know that cost consumption does not necessarily create value. Although, as a financial tool, it has some value to improve the efficiency of the financial system, for humans, it is not perfect. When computing power serves humanity, I feel that we can find an ending solution that surpasses Satoshi Nakamoto.
This is beyond my imagination of ZEL, far beyond ZelEx, ZelVpn. Of course, as time goes by, more high-value applications run on ZelFlux, and the Zel ecosystem will be further improved. But at this stage, Zel is first to get rid of the shadow of the forked coin and establish its foothold in the cryptocurrency circle with its uniqueness.
!Abe, I think you are correct, this is the beginning of something much larger. I look forward to talking about this next live meeting! Anyone that would have questions for !Abe, or the Zel Team come on over to the Zel Discord.
Dan
