Zug, Switzerland – The Swiss Shakti Foundation has developed a new – and better – crypto mining protocol. In the past, crypto mining was based on a Proof-of-Work (PoW) protocol that measured the computational work expended by individuals to calculate valid alphanumeric codes to verify transactions.
Instead of relying upon the computational achievement of computers as the base value of the Shakti Coin cryptocurrency, the Swiss Shakti Foundation has chosen a Proof-of-Effort (PoE) model. This Proof-of-Effort model measures families’ efforts in getting children to attend school. Each day that a child of a participating family goes to school, one Shakti Coin is mined and rewarded to the child’s parents.
The Shakti Coin Proof-of-Effort protocol sets Shakti Coin up to be a game changer in the lives of children and families in the developing world and beyond.
The Proof-of-Effort protocol is the culmination of what Satoshi Nakamoto always envisioned his innovation to become: a driving force for good in this world.
About Shakti Coin and the Swiss Shakti Foundation
“Shakti” is an ancient Sanskrit word that refers to each individual’s innate potential.
Shakti Coin (SXE—Shakti eXchanged for Education) is a global stablecoin (set at $5 USD per coin). Unlike other cryptocurrencies, which link their fluctuating value to computational achievement, Shakti Coin’s stable value is based upon the daily effort made by children and families in education. This is a Proof-of-Effort (POE) Protocol, which the Swiss Shakti Foundation administers. The global NGO, Swiss Shakti Foundation, rewards parents with SXE Shakti Coins for their children’s school attendance, accelerating UNESCO’s EFA mission of “Education for All.”
Shakti Coin transactions take place within a compliant Swiss-American ecosystem and are secured by cutting-edge blockchain technology.
The Shakti Coin project is a grassroots initiative that transcends industries, governments, faiths, and political ideologies.
For more information visit www.shakticoin.com or reach out to secretariat@shakticoin.com
