New cryptocurrency aims to democratise crypto mining

Video game development studio, MyDream Interactive, has developed a new cryptocurrency, called Jewelz, based on a patent-pending serial Proof of Work algorithm.

The company claims this makes cryptocurrency mining a lot more energy efficient than Bitcoin mining and as easy to start as playing a video game.

MyDream says that this algorithm, and its design that limits miners to one public key, will ensure that Jewelz is more stable and more evenly distributed than Bitcoin, which it describes as, ‘increasingly centralized and volatile’.

Jewelz will be released in Q3 2018 alongside the studio’s first video game mining companion application, AllMine.

The app is a free-to-play puzzle game, initially developed for PC, with an in-game economy based on Jewelz coins that players earn through gameplay and using the JewelzMiner client on their device.

Democratizing cryptocurrency mining

The team at MyDream Interactive is composed of seasoned veterans of the cryptocurrency and video game industries.

CEO and founder Allison Huynh said, “We created Jewelz to enable anyone, regardless of their access to computing power, to participate in cryptocurrency mining. We are building a stable foundation for the Jewelz cryptocurrency through gamification, with the goal of democratizing cryptocurrency mining.

“As the Jewelz platform grows we will continue to release new games as well as educational applications to teach children basic economics, mathematics, and cryptographic principles.”

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