Swiss real-time data network Streamr to launch testnet for mining

The Swiss real-time data network Streamr is launching a testnet in the coming days, with which they want to make the somewhat different mining possible.

The decentralized Swiss real-time data network Streamr will soon open up to miners. That’s according to a press release obtained by Yellow Rocket Agency. To put the plans into action, they’re launching a testnet on August 31 that anyone can join. On the Streamr blog, there is a tutorial that explains the individual steps for participation.

The mining process differs from conventional digital mining activities in that it does not require any special mining software. Rather than via the usual hash puzzle solving, rewards are collected through bandwidth sharing, similar to Theta. It is also said to not require top-notch hardware such as Antminer. According to Streamr, miners should even be able to run their nodes on laptops or even a smaller device like a Raspberry Pi. With the launch of the testnet, two million of the native DATA tokens will be available for mining.

The news surrounding the upcoming launch has yet to have a positive impact on DATA’s share price. At press time, the token is trading down 2.78 percent. However, the generally optimistic mood on the crypto market did not stop at DATA. Since August, the cryptocurrency has clearly been on an upward trend. This is also shown by a look at the monthly performance. Overall, the token was able to gain 77 percent. At the time of going to press, DATA is trading at $0.16.

Streamr participates in Swiss Blockchain Hackathon

In general, Streamr sees itself as a Layer Zero protocol for real-time data. To this end, they operate a decentralized pub/sub network that is primarily used for streaming analytics and data integration. Streamr also works with other blockchains such as Ethereum or xDai, which are used for identity, security and payments. The project has also identified social media, chat apps, decentralized application metrics or even video streaming as other potential use cases.

Streamr is also participating in the upcoming Swiss Blockchain Hackathon. Together with more than 500 hackers, they want to link further application areas and business models with decentralized technologies. Further, the blockchain projects Velas, Algorand and Near are also expected to participate. SEBA Bank also announced its participation.

The Swiss Blockchain Hackathon will take place from 29 to 31 October 2021 and will be held as part of the NTN Innovation Booster – Blockchain Nation Switzerland. Together with consortium partner Trust Square, the hackathon will be organized simultaneously at various locations in Switzerland. Among others, events will take place at the Ambassador House in Zurich, at SUPSI in Lugano, at University of Geneva and online.