Can Microsoft’s New Crypto Money Rival Bitcoin?

Microsoft, as one of the largest companies in the world, could not remain indifferent to crypto money technology, which it was previously distant from, and immediately after the departure of the technology giant company founder Bill Gates, it began to work to issue a crypto currency of its own.

The company is working on an innovative cryptocurrency system that is different from the mining system that bitcoin uses. Microsoft’s patent on this includes the ability to use different human body activities for mining and proof-of-work . Accordingly, a wearable device that detects the user’s body activities and thus extracts body activity data will be used. This data will be shared with a server and it will be determined that the user is performing the necessary tasks for mining. In this way, the user will be given cryptocurrency. Depending on the situation, the tasks will be increased or decreased depending on how much effectiveness they produce.

Although new players competing with bitcoin are taking the field day by day, it is still the most popular and leading crypto currency among crypto coins. Can a technology giant like Microsoft compete with bitcoin with its new cryptocurrency? 

It seems that; While entering this competition, Microsoft has chosen as a target point that the energy consumption of bitcoin in mining activities and the mining equipment used will be short-lived due to the emergence of new technologies. With the mining system it aims to create, it aims to use a less costly method and reach more people in this way. Another advantage is the large user network it already has. It may try to gain an advantage in making its own cryptocurrency available with its own products. 

On the other hand, bitcoin stands out as the most trusted among investors and users with being the first among crypto currencies. At this point, while the mass of people who have been interested in cryptocurrencies for years has expanded, there has not been a crypto currency that can move the throne of bitcoin with its reliability. In addition, the fact that bitcoin does not belong to a person or any institution and cannot be managed from a single center, its anonymous and transparent structure is one of the most interesting features of its investors. This, in turn, can be considered as an issue where Microsoft has an advantage over the cryptocurrency it will issue.

Today, even the US Central Bank (FED) is turning to digitalization and in this period of increasing interest in crypto coins, it is certain that crypto coins will have a much more important place in the world of the future. Perhaps we may even see one of these two cryptocurrencies displace the dollar and be used as the reserve currency of  the future. 

Create an account

Now create an account where you can use your knowledge.