Tokenizing The Edge = Realizing a New Internet
Design of new currency backed by real assets
GIG has partnered with the Threefold Token Foundation to create a payment mechanism for the purchase of IT capacity based on Threefold Tokens and the execution of smart contracts.
This enables us to have a decentralized and automated execution of workload provisioning, as well register the state of the Edge network from capacity planning to activity tracking, resulting in audit trails.
Sponsors and investors can purchase tokens at Threefold Token Foundation helping the foundation to deploy more capacity at The Edge.
Developers and software engineers can use tokens to consume capacity, such as reserve and utilize compute time, storage and network services.
The values behind the Threefold Token are:
- Backed: Each Token is backed by real assets. Tokens are a currency for buying and selling IT capacity.
- Green: Rivine’s blockchain algorithms enable an ultra-safe and scalable compute/storage grid while being 10x more power efficient.
- Neutral: All of tech is open-source. GIG capacity and nodes are registered on our transparent and immutable blockchain.
Why a new digital currency?
Digital currencies are well on the way to full acceptance as a mainstream currency in the future - providing significant benefits such as direct peer to peer transactions, greater trust secured by cryptography and mathematics; lower charges; faster transactions and no single point of failure.
However, major problems remain such as scalability issues, slow transaction times, impossible energy requirements, reputational issues, no identity management - and most importantly, a general absence of intrinsic value backed by real assets.
GIG Technology and the Threefold Foundation have resolved these technical challenges.
Find out more
Visit the Threefold Token website to become a sponsor.