PixelPlex is thrilled to announce that it has partnered with NuPay Technologies Inc. to build the world's most environmentally friendly blockchain using a new consensus algorithm.
It’s no secret to the tech world that popular consensus algorithms such as Proof of Work (PoW) and Proof of Stake (PoS) raise a lot of questions in terms of environmental impact and investment.
PoW is infamous for its high energy consumption. The Bitcoin blockchain, for instance, uses this algorithm. Cambridge Bitcoin Electricity Consumption Index estimates that the annual electricity consumption of the Bitcoin network is around 103.20 TWh, which is close to how much a country like the Netherlands consumes in a year. The PoS algorithm, in turn, uses less energy but requires large monetary investments.
NuPay Technologies offers a solution — a revolutionary eco-friendly consensus mechanism known as Proof of Ethic (PoE)™. The consensus mechanism was invented by Nathan Trudeau, Founder & CTO at NuPay Technologies and PRISM. The company has exclusive rights to use the algorithm.
The PoE mechanism is based on the principle of absolute probabilistic equality, meaning that all nodes have an equal opportunity to create the next block without the need for heavy investments. This feature makes the consensus accessible, affordable, and egalitarian. In addition to this, PoE is a completely decentralized algorithm with almost zero carbon footprint and transaction fees. PoE also allows everyone to mine regardless of the amount of investment.
The company turned to PixelPlex with a disruptive idea to create a blockchain with the PoE algorithm. The PixelPlex team gladly joined the project as they are well aware of the concerns associated with PoW and PoS and would like to help make a change for the better.
Alexei Dulub, CEO of PixelPlex, has shared:
“We cannot be more excited to embark on this journey together with NuPay Technologies. We are both committed to developing innovative blockchain products that bring benefits to our clients, users, and the tech community. It is especially important that the number one goal of our collaboration is not just to create a blockchain, but to build a blockchain that can potentially lead to a revolution in the industry and at the same time will not have a negative impact on our planet.”
Nathan Trudeau, CTO at NuPay Technologies, has expressed his excitement about the project and the coming cooperation with PixelPlex:
“I am very proud to announce that I am the sole owner of a patent-pending, state-of-the-art completely decentralized consensus algorithm known as Proof of Ethic. Nu Pay Technologies Inc. has been granted an exclusive license to use PoE on their upcoming blockchain currently being developed with the help of PixelPlex. For as far as I can remember, I always dreamed of having a significant impact on humanity. This is a childhood dream coming to life.”
Joshua Bell, CMO at NuPay Technologies, has also added:
“We are very happy to be working with PixelPlex on the management and creation of our blockchain; it could not be in safer hands. Together we are building the fastest, greenest, safest blockchain. I am thrilled to be part of such an incredible and passionate team.”
PixelPlex and NuPay Technologies are definitely on the same page and they will work hard together to bring their groundbreaking ideas to life.
Get ready! Probably the next evolution of the blockchain is just around the corner.
About NuPay Technologies Inc.
NuPay Technologies Inc. is a blockchain corporation founded by Brad Wilson in 2020. This crypto-focused institution has brought together brilliant specialists with professional experience in software development, corporate governance, banking, sales, and marketing.
NuPay Technologies has many ambitious ideas for blockchain and cryptocurrencies, and they are boldly moving towards their implementation.