Proof-of-Work blockchain mining equipment is becoming under-utilized as the transition to Proof-of-Stake is becoming more and more popular across blockchain projects. The Singapore-based company, Meta 1 Network (M1), is ready to capture the opportunity and utilize this hardware for its real-time rendering platform, based on its Proof-of-Rendering consensus.
Over the past decade, critics of blockchain and cryptocurrencies have stated that confirming transactions and maintaining the network with a Proof-of-Work consensus algorithm is too energy-intensive and poorly scalable. Much like Bitcoin aka the “King” of crypto, Ethereum currently still operates on the same Proof-of-Work consensus algorithm, but not for long. The Ethereum team is planning a transition called “The Merge”. This event is effectively a transition from Proof-of-Work to the more energy-efficient Proof-of-Stake consensus. As a result, the Ethereum network will not require mining infrastructure and hardware, resulting in millions of mining units being under-utilized potentially later this year. The M1 team is ready to use these GPUs to power its decentralized global network, allowing cloud based, real-time rendering to be used by gamers and game developers worldwide.
M1’s real-time, decentralized cloud rendering allows gamers to access Web2 and blockchain games with high-level graphics, without the cost of expensive hardware. The M1 platform, currently operating in a closed beta for select AAA games, is revolutionizing access to the metaverse by aiming to become the basic infrastructure for all metaverses. Metaverse interoperability becomes real, meaning that assets from one metaverse or game can be transferred to another. With the help of cloud rendering, users can unlock 3D, 4K, and VR support, with high speed and low latency. This opens up a realm of possibilities for gaming experiences and development, and such an opportunity attracts new gamers and developers alike.
Meta 1 also provides full integration with Web3. Users get access to all blockchains as they move to a Web3 infrastructure with all the benefits of this environment, including:
- Accessibility from any device, and anywhere, with no hardware restrictions.
- Lightning-fast speed and low latency.
- Seamless Web3 integration.
- Open Ecosystem with no content barriers. Content providers and studios control what content they upload. Users can access vastly more content.
- A perfect on-ramp to smoothly convert Web2 gamers to Web3 gamers
M1 benefits not only gamers, but also developers, and rendering resource providers (miners). Game developers will benefit as their games can reach a higher audience base with fewer restrictions and more freedom to create higher-quality games. Miners get a profitable alternative to use their equipment, adapting to the Proof-of-Stake transition and optimizing the stability of long-term rewards via M1’s platform.
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