On September 21st, 2023, the Cardano community received an electrifying surprise courtesy of Elder Millennial, a passionate Cardano enthusiast and Alpha tester for NuNet. This innovative individual took to Twitter under the handle @ElderM to share a groundbreaking revelation: the successful mining of Fortuna, a Proof of Work (PoW) smart contract operating within the Cardano blockchain, leveraging NuNet’s decentralized compute protocol.
Elder Millennial’s Inspirational Odyssey
Elder Millennial’s journey into the intricate web of Cardano’s blockchain ecosystem stands as a testament to dedication and unwavering innovation. As an Alpha tester for NuNet, they were intricately woven into the fabric of decentralized computing, venturing into its uncharted territories.
With NuNet’s decentralized compute protocol at their disposal, Elder Millennial embarked on a mission that would push the boundaries of what was deemed achievable within the Cardano realm. Astonishingly, in a mere 4–5 hours, they accomplished what many had considered insurmountable: the development and successful execution of a Fortuna miner on the Cardano blockchain. This remarkable feat not only showcased Elder Millennial’s technical prowess but also highlighted the potential synergy between PoW and PoS mechanisms within blockchain ecosystems.
Decentralized Compute: Empowering Cardano’s Evolution
Cardano is poised for a significant change as it embraces decentralized computing. This shift aims to alleviate concerns related to centralization, especially the reliance on services like AWS.
Currently, a significant portion of Cardano’s stake pool operators (SPOs) relies heavily on centralized cloud platforms, notably AWS. While these platforms offer scalability, they also expose Cardano to risks like downtime, escalating costs, and potential censorship or refusal of service.
NuNet’s integration into Cardano will help the network achieve a greater degree of decentralization. Stake pool operators will soon be able to operate on decentralized compute resources, reducing dependence on centralized services. This transition not only strengthens security but also reaffirms Cardano’s commitment to decentralization, providing a robust foundation for its continued growth and innovation.
Fortuna: A PoW Smart Contract Marvel
Fortuna emerges as a groundbreaking Proof of Work (PoW) smart contract flourishing within the Cardano blockchain. It is the brainchild of the creators of the Aiken smart contract language. Fortuna ingeniously combines PoW principles akin to Bitcoin with the architectural elegance of Cardano’s Proof of Stake (PoS) infrastructure. This audacious experiment rapidly kindled the imagination of the Cardano community, particularly among stake pool operators and tech savvy blockchain enthusiasts who quickly took to mining the token earlier this summer.
You can view the Fortuna Github at the following link: https://github.com/aiken-lang/fortuna
What is NuNet?
NuNet is a SingularityNet Spinoff Project that aims to create a globally expansive decentralized computing network. This network empowers individuals to share and monetize their dormant computational resources, laying the foundation for a decentralized internet while augmenting the efficiency and affordability of Artificial Intelligence (AI) and Machine Learning (ML) processes.
The collaborative forces of NuNet and SingularityNET furnish both hardware and software solutions, advancing the creation of efficient AI systems while preserving decentralization — a pivotal facet for the future of decentralized AI, blockchains, software, and the global decentralized cognitive network.
You can find out more about Nunet at the following link https://www.nunet.io/
The Prospects of Decentralized PoW Mining on a PoS Network
PoS blockchains, Cardano included, promise tantalizing scalability prospects compared to their PoW counterparts. By seamlessly integrating PoW smart contracts like Fortuna into a PoS blockchain, Cardano tackles scalability issues that have historically plagued PoW tokens like Bitcoin and Ethereum.
Elder Millennial’s trailblazing accomplishments, coupled with NuNet’s innovative approach, epitomize the evolving landscape of blockchain technology. The journey of Cardano toward decentralization and scalability continues to be indelibly shaped by visionary pioneers like Elder Millennial and groundbreaking projects such as NuNet and Fortuna.
You can find the github for the Cuda Miner Elder Millenial created to mine Fortuna via NuNet at the following link: https://github.com/theeldermillenial/nunet-cuda-tuna
Conclusion
The interplay between PoW and PoS within the Cardano ecosystem, as exemplified by Elder Millennial’s remarkable achievement and the ingenious Fortuna smart contract, paves a promising path for blockchain technology. The innovative efforts of NuNet and its focus on decentralized computing bode well for the future of not only AI and ML but also the broader world of decentralized networks. Together, these endeavors embody the essence of innovation and collaboration, driving the blockchain frontier toward unprecedented heights.
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