Thoughts, stories and ideas
Why use hardware for blockchain?
Though we often forget about it, relegating servers and other hardware to mere support status, hardware plays a crucial role in the digital age. And of course it’s a fundamental part of everyone’s latest digital darling – blockchain technology – where it is responsible for verifying transactions, securing the network and maintaining blockchain’s decentralized database.
Specialized hardware like Application-Specific Integrated Circuits (ASICs), Graphics Processing Units (GPUs) and Field-Programmable Gate Arrays (FPGAs) allow miners to perform the complex calculations necessary for verifying transactions and creating new blocks on the blockchain more efficiently and quickly.
These kinds of specialized hardware can also improve blockchain security, making it harder for malicious actors to launch a 51% attack (any attack in which a single entity controls the majority of the mining power and can manipulate the blockchain).
Simply put, hardware is necessary in order to guarantee a blockchain network functions correctly, is adequately defended and remains operationally efficient.
“Our FxBlox is really the first physical vestige of Web3,” says Keyvan M. Sadeghi (CEO, Cofounder, Functionland). “For a small initial investment, FxBlox allows people to save money, own and control their own data, and become part of the network, rather than pay monthly for that right. It’s also the first open-source monetization platform in the industry to reward independent software developers. It’s a step toward democratizing the internet while improving how it works for us – individual users – worldwide.”
“FxBlox works exactly the same way existing storage and share services work, minus the monthly fees,” says Ehsan Shariati (CTO, Cofounder, Functionland). “It provides complete, fully-encrypted privacy for anything you store on it – photos, personal files, cell phone backups and more.”
Thanks to FxBlox’s blockchain-attached storage system, data is stored across the global FxBlox-user network. This means that even in the event an individual FxBlox is broken, lost or stolen, that user’s data remains secure and available, downloadable and shareable anywhere there is an internet connection.