New Bitcoin.com Podcast Episode: Ivan Zone of Suchflex
The Bitcoin.com Podcast is out again! This week, Gavin Knight talks to Ivan Zone, CEO of Suchflex. Suchflex is a shared computing platform that pays users for their spare computing resources, with bitcoin and other cryptocurrency options.
Also read: Bitcoin.com Podcast: Bitcoin Investment Funds with Ransu Salovaara
Rent Out Computing Resources for Money
Does your computer sit idle while you’re asleep? Do you have spare GPU cycles or disk space even when you’re awake? Distributed resource networks have existed on the internet since at least the 1990s. But until bitcoin came along, participation was voluntary-only. There simply wasn’t any good way to pay users every time their computing power got used.
Times are obviously different now. Describing his platform as “the AirBnB of computing”, Zone says we now have the ability to unlock and draw value from unused spaces. Pooling these resources, on a global scale, presents a “trillion dollar opportunity”.
Even if you don’t have spare resources, users are even adding peripherals like external drives to their systems to rent via Suchflex. The platform has a very nice and noob-friendly GUI dashboard for monitoring activity and providing information on what hardware earns what.
What About Mining with Suchflex?
Since mining bitcoins using consumer resources isn’t an option these days, Suchflex uses the network to mine other cryptocurrencies like ether. It also provides optional payouts in its own native currency Flexcoin.
Suchflex takes on contract clients who pay to use its network’s resources. Zone says these are mainly in the machine learning field. These clients help fund the operation and pay users.
The service also offers a range of philanthropic distributed computing options for users to donate resources to. One is the long-running SETI@Home program to look for extraterrestrial intelligence. Other options include Weather@Home, MindModeling@Home, RenderFarming.net and the World Community Grid.
Zone also describes how Suchflex works and answers questions about the amount of control users have over when and how the system uses their resources. Gavin asks the most important question of all — how do users actually make money, especially if contributing cycles to altruistic projects like SETI?
You can listen to, or download, the latest podcast episode here.
Images via Suchflex, Twitter