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Entevia, LLC, a limited-liability company organized under the laws of the USA announced the Beta release of MiftyCoin (MFT), a next-generation cryptocurrency that uses Proof of Human Work (PoH) to do mining. This is a greener alternative to the Proof of Work (PoW) mining scheme of Bitcoin and many other alt-coins. Also, it is a more democratic, socialized alternative to the Proof of Stake (PoS) scheme used by Ethereum and similar coins.
MFT (which stands for Mobile Fungible Tokens) is mined by users solving unique 24-tile sliding puzzles in their mobile phones. The user with the highest score in each round is awarded MFT$50. Mining rounds run very 10 minutes.
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MiftyCoin is a novel approach that aims to solve the high power consumption issues of PoW- which is estimated to be between 120 and 240 billion kilowatt-hours per year. Contrary to the high-risk betting requirements of PoS, users of MiftyCoin do not have to spend a cent to do mining; they get rewarded based on their ability to solve a puzzle.
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Puzzles generated by MiftyCoin are unique to each user, which prevents sharing solutions among peers. The size of the puzzle (24 tiles) makes it hard for a computer to solve for a maximum score (an optimization problem), due to the high computational complexity and size of the problem space.
Although MFT coins mined currently through the platform cannot be traded in any exchange, they are expected to be traded next year. Thus, mining enthusiasts are encouraged to start mining now and begin creating future value.
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