RubiX Blockchain Green Initiative Solves Bitcoin’s Carbon Emission Problem with a Proprietary Mechanism (PoH)
Proof of Harvest Consensus Mechanism by RubiX’s Blockchain Green Initiative provides an enterprise level Zero Carbon Footprint blockchain alternative that is cryptographically 1,000,000 times more secure than the ECDSA 256 used by Bitcoin or Ethereum.
Carbon Neutral Blockchain
Why legacy blockchain technology can never become eco-friendly
Two leading legacy mechanisms: PoW (used by Bitcoin etc.) and PoS (used by Ethereum etc.) are designed in such a way that they can never become eco-friendly. Refer to insets on right for technical details.
At RubiX, we invented Proof of Harvest (PoH) Consensus Mechanism to make blockchain carbon friendly and more sustainable. Our algorithm is guided by a number of innovative principles, some of which are discussed in following sections.
Used by Bitcoin; as the network grows, cryptographic puzzle difficulty increases & as the puzzle difficulty increases, more hashing is needed & more energy is needed to hash. Nodes (or pools of nodes) with highest hash power earn more new coins. So Bitcoin energy burn will continue to grow with the size & value of the network.
As an alternative to energy guzzling Proof of Work (PoW), Proof of Stake (PoS) emerged with Ethereum & a few other platforms. It was slated to reduce the need to solve huge cryptohashing puzzles & hence consume less energy but it turned out that PoS has serious security issues. In fact Ethereum based apps that use PoS at backend have seen many security hacks, coin thefts etc. Apart from security & staking issues, PoS does not eliminate the bulging node memory problem. Every node still needs to maintain the full global ledger. Also, nodes with higher coins will have more voting rights, leading to concentration & potentially compromise censorship resistance.
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