This platform is different than other cryptocurrency solutions not only because it includes exercise, but also it has a distinct mining algorithm that promotes health as opposed to wasting electricity or holding currencies. This is designated as Proof of Exercise versus the bitcoin’s proof of work or Ethereum’s upcoming proof of stake. You could describe this as proof of Steak 🙂 Instead of having large companies or countries like China or North Korea mining a lot of wealth, you can, by yourself, can mine this currency using only your cell phone. Along these lines, the genuine capability of digital money regarding being the most majority rule monetary framework is figured out. You can likewise have some essential salary and should not be reliant on different elements for your fundamental necessities as long as you do your activity, eat sound and maintain a strategic distance from extravagance things. It is as it were, the fantasy of having everybody free from obligatory work and rather, work to enhance themselves and society. As expressed by a creator in the odysseyonline “The idea behind basic income is that everybody would be granted a livable stipend, no strings attached, for the purpose of stimulating and empowering individuals to contribute in new ways to the economy and betterment of society.” This is conveying us more like a confident future like Star Trek, rather than a fate and agony future like the Terminator. Notwithstanding Proof of Exercise (POE), the stage incorporates pulse observing, a digital currency wallet, tokens, and keen contracts.
Here is a music video describing the platform and I think it is very entertaining:
GYM Rewards (GYM coins) will be given to people who practice by the patent-pending app. You will be able to obtain these coins at the participating gymnasiums to profit from their perks, or better yet, you will be able to sell these in joining exchanges for real money. Well, first for Ethereum then the real money. The app essentially tracks you exercising and your coins using your phone’s sensors. It is an all stop shop for the Gymnasium needs and you will not only be able to follow yourself but also trade on the market. It keeps a history of your exercises on the blockchain so that it cannot be manipulated, it cannot be hacked, or it cannot be altered or stolen. It will be as secret as it gets if you want that is, thanks to the blockchain. This system is a little complex than your classic proof of work, so I will leave it at that. If you start exercising at the beginning of the program, you will earn more because later on, more people exercising will mean more tokens to be created, and the law of supply and demand states that if something is produced more, or even if something exists in abundant quantities, its value will be low. Therefore, people starting with this program early will have higher earnings. If you are seeing this in early ICO, you are in luck, though you are getting a higher risk.
The platform will feature social networking just like facebook so that you can use your social skills to find friends to exercise with. The usual referral features will be present as well to give you rewards but this is a little distinctive as you can report athletic events for rewards and have people download the app using your QRCode, which will earn you 0.5% off all members and will keep earning as they exercise. You can also submit your local Gymnasium to earn from all the exercise and mining they have on that specific Gym.