MONACO, Sept. 29, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) CoinAgenda (www.coinagenda.com), the premier global conference series that has been connecting blockchain and cryptocurrency investors with startups since 2014, today hosted PKT Pal co-founder Josh Berger who announced the ‘PKT Cube’, a powerful edge computer designed to monetize unused internet bandwidth. This easy-to-use technology connects to the PKT blockchain, a layer 1 protocol powered by PacketCrypt, the world’s first bandwidth-hard proof of work (PoW). The PKT Cube is a whisper-quiet, plug-and-play mining device that enables anyone in the world to monetize their unused internet bandwidth, and compensates users in PKT Cash every 60 seconds “for bandwidth that has already been paid for and is currently being wasted,” according to co-founder of PKT Pal, Josh Berger, in his address to the audience of key cryptocurrency investors and influencers who gathered in Monaco for the European CoinAgenda event.
“From February 1996 to December 2020, prices charged by internet service providers have increased by 250 percent, which comes to 3.9 percent per year. These organizations have an 80 percent profit margin before interest, taxes, depreciation, and amortization. And consumers are paying the price, as they are defenseless against rate hikes from their local providers and monopoly ISPs,” Berger said.
“The good news for consumers is there’s another way. PKT is an open-source community project offering an exciting solution that would monetize a household’s internet connection by enabling anyone to become an ISP to their local community and make passive income from their internet connection, which has always been viewed as a hard cost of living,” he added.
More than a mining device, each PKT Cube functions as an edge point powering the PKT Network. While mining PKT Cash does not require a PKT Cube, PKT Pal hardware devices come preloaded with a proprietary operating system called PkteerOS, designed to make earning PKT Cash as easy as plugging in the device and using a mobile app. The PKT Cube is powered by the powerful 16-core AMD Ryzen 9 CPU, and provides an eye-pleasing dashboard and access to dApps, including Bill Pay, launching in 2022, which will enable people to pay their utility bills, such as their internet costs, using their PKT Cash earnings.
The first step in building the PKT Network is providing infrastructure through bandwidth mining. When mining, people are transmitting ‘dummy data’ using the PacketCrypt algorithm, which ‘plumbs the pipes’ by requiring consistent upload and down capabilities. This mining process accomplishes two things: 1) it establishes and sustains the high-speed bandwidth availability and connectivity of the PKT Network (currently pushing over 100gbps sustained), and 2) the PacketCrypt mining algorithm utilizes the same type of encryption used in VPN technology, which optimizes the PKT Network to soon provide low cost, high-speed VPN to consumers. Initially, people’s bandwidth is not being used to transmit any unique data, however, users will eventually be able to permission VPN usage to earn additional PKT Cash payments.
The PKT Network is completely end-to-end encrypted, which provides users more privacy and safety than their current internet connection. The PKT technology roadmap will eventually enable people to provide internet access to their neighbors via localized mesh networks (worldwide) and wifi-sharing using cjdns technology. Through community participation and economic incentives, the PKT Network infrastructure is completely decentralized with no venture capital investment, no company, no CEO, and no pre-mine.
CoinAgenda is currently in progress at the Le Méridien Beach Plaza in Monaco. The event began on September 27 and is covering the future of cryptocurrency, blockchain and quantum technologies, decentralized finance (DeFi), fintech, privacy, scaling solutions, token economics, payment and infrastructure platforms, Web 3.0, non-fungible tokens (NFTs), and legal and regulatory issues in blockchain investing.
Future CoinAgenda Events are scheduled each month through December, delving into topics ranging from the European crypto market to the DeFi revolution. Each CoinAgenda Virtual Event will be recorded and available to members of the BitAngels investor network. To become a member of the BitAngels investor network, please apply here.
ABOUT PKT
PKT (https://pkt.cash/) is a decentralized high-speed data network that enables anyone to monetize their unused internet bandwidth. Powered by PacketCrypt, the world’s first bandwidth-hard proof-of-work, people who connect to the PKT Network are paid in PKT Cash ($PKT) every 60 seconds. PKT provides an economic incentive for people to grow internet connectivity and infrastructure with minimal technical knowledge. As the network grows, PKT drives bandwidth demand, which in turn drives down the cost of bandwidth, increases the speed of the PKT Network, and improves internet connectivity in both urban and rural areas worldwide. PKT is an extension of the cjdns mesh networking protocol, created by PKT Lead Developer Caleb James DeLisle in 2011. PKT continues the cjdns vision by allowing anyone to share their internet and become an internet service provider (ISP).
ABOUT COINAGENDA
Since 2014, CoinAgenda is the leading global conference series connecting professional investors, traders, family offices and digital currency funds with top entrepreneurs in the blockchain and cryptocurrency sector.
