Cisco files patent that could help solve crypto mining energy crisis

A patent for a “crowd-sourced cloud computing’ system filed by tech giant Cisco on Tuesday could also be applied to Bitcoin mining.

The patent refers to a system that could allow computer owners to offer up their unused processing power for other endeavours.

The company said: “This model is suitable for, among other things, offering distributed processing and services that can be optimised for speed, volume, scale and resiliency, cost, and regulatory compliance – for example, distributed neighborhood theft protection systems, or cluster, or city or municipality county relevant services.

“One such case involves Bitcoin mining, which may be very computational intensive and is typically more convenient for every participant when done in ‘mining pools’.”

One major concern surrounding cryptocurrency is the amount of computing power required in the mining process, so this could be a step towards one long-term solution for this.

CoinDesk