Latest news with #ProofofWork
Business Standard
07-05-2025
- Business
- Business Standard
Zuxtra Blockchain Launches India's First Level-1 Permissioned Blockchain with Groundbreaking 'Proof of Business' Consensus Mechanism
SMPL Kolkata (West Bengal) [India], May 7: Zuxtra Network, a pioneering deep-tech startup based in Kolkata, has officially launched the Zuxtra Blockchain, India's first Level-1 permissioned blockchain platform, powered by a revolutionary consensus model -- Proof of Business (PoB). This innovation marks a transformative evolution in blockchain infrastructure, moving beyond traditional energy-intensive models like Proof of Work (PoW) and speculative financial mechanisms like Proof of Stake (PoS). Instead, Zuxtra's proprietary Proof of Business protocol ties consensus to verifiable business performance, leveraging AI-driven auditing to autonomously validate Key Performance Indicators (KPIs). "Proof of Business consensus shifts the foundation of blockchain from unsustainable computational power or speculative financial holdings to tangible business performance and operational integrity," said Pallab Dasgupta, Founder & Chief Engineer of Zuxtra Network. "By anchoring consensus to real-world KPIs, we're creating a stable, sustainable platform for the future of blockchain technology." Addressing the Cost Barrier for Indian Enterprises India's blockchain adoption has long been hindered by a lack of indigenous infrastructure and steep development costs--often ranging between $50,000 and $300,000. This cost barrier has stifled innovation in critical sectors such as agriculture supply chains, GI-tagged product authentication, pharmaceutical counterfeit prevention, and real estate tokenization Zuxtra Blockchain aims to eliminate these hurdles. As a permissioned network, it incentivizes authorized partners to secure transactional data using PoB protocol--bypassing high gas fees while ensuring full transparency through a public ledger hosted at A Game-Changer for Indian Startups Arjun Dutta, Founder and Product Architect at IQPonics Technologies Pvt. Ltd.--an STPI Bangalore EA, Govt. of India, and Indian Statistical Institute-incubated startup--praised the platform: "We were previously limited by the high costs of building blockchain-based supply chain solutions. With Zuxtra Blockchain, we deployed our agriculture traceability platform at a fraction of the cost and with zero gas fees. It's a game-changer in the world of blockchain." Built in India, for Indian Enterprises With this launch, Zuxtra Network delivers a cost-effective, business-integrated blockchain solution designed to empower MSMEs and startups across India. The company is actively seeking $1 million in funding to expand its decentralized cloud infrastructure and scale operations. "Our vision is to build India-made, India-centric technology that empowers domestic businesses," added Dasgupta. "With the Government of India's renewed focus on deep-tech innovation, we are optimistic about achieving our goals."
Yahoo
30-01-2025
- Science
- Yahoo
Quantum Startup BTQ Proposes More Energy Efficient Alternative to Crypto's Proof of Work
A recently published journal article by researchers at BTQ, a startup working to build blockchain technology that can withstand attacks from quantum computers, has proposed an alternative to the Proof of Work (PoW) algorithm involving quantum technology. Proof of Work is a blockchain consensus mechanism that secures the Bitcoin network. Participants crunch through vast amounts of math problems to validate transactions. Some have criticized the process as being too energy-intensive, while others have argued the opposite. Quantum computing involves moving away from a process reliant on binary code, ones and zeros, which open and close transistor gates. Quantum bits (qubits) exist in multiple states simultaneously, vastly increasing computational power to the point where modern-day encryption built by classical computers – reliant on transistors and binary code – is threatened. In its paper, BTQ researchers propose a quantum-based alternative called Coarse-Grained Boson Sampling (CGBS). This method uses light particles (bosons) to generate unique patterns—samples—that reflect the blockchain's current state instead of hash-based mathematical puzzles. The random sampling of these patterns would create encryption, in the same way that random numbers form the backbone of encryption made by classical computers. Boson-sampling was initially created to demonstrate something called quantum supremacy, a test that determines when a mathematical equation is too complex for a classical computer. These samples are grouped into categories, called bins, which make it easier to validate the results and confirm the miner's work. This approach replaces traditional cryptographic puzzles of PoW with quantum sampling tasks, significantly reducing energy consumption while ensuring the network remains secure and decentralized. While BTQ's proposal is theoretically interesting, achieving it would require a hard fork of the Bitcoin network with miners and nodes replacing their existing ASIC-based hardware (computers solely made for the PoW consensus mechanism) with quantum-ready infrastructure. This would certainly be a herculean effort and might result in a fork as seen with the Blocksize Wars of years past. Read more: The Blocksize Wars Revisited: How Bitcoin's Civil War Still Resonates Today
