Caduceus (old)

<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d36681ba771049bc83b59feb341e3ce5.png" />by Tim Bullman, CEO of <a href="https://caduceus.foundation/" rel="noopener noreferrer nofollow">Caduceus Foundation</a>With Ethereum’s merge to proof-of-stake (PoS) <a href="https://twitter.com/superphiz/status/1547643255335968771" rel="noopener noreferrer nofollow">around the corner</a>, a global array of proof-of-work (PoW) miners, along with their collective resources and capital (that accounted for<a href="https://www.statista.com/statistics/1278432/ethereum-miner-revenue/" rel="noopener noreferrer nofollow"> $19 billion in revenue</a> in 2021), are actively migrating to other platforms.Such activity is further evidenced by <a href="https://messari.io/report/what-will-ethereum-miners-do-after-the-merge" rel="noopener noreferrer nofollow">Messari data</a> which reveals a steady decline in Ethereum’s hash rate since May 2022 and a 47% drop in <a href="https://www.tomshardware.com/news/gpu-pricing-index" rel="noopener noreferrer nofollow">GPU resale value</a> since December 2021.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9754f621609c414b85cafe2e3de37104.png" />(image: <a href="https://messari.io/report/what-will-ethereum-miners-do-after-the-merge?referrer&#61;grid-view" rel="noopener noreferrer nofollow">https://messari.io/report/what-will-ethereum-miners-do-after-the-merge?referrer&#61;grid-view</a>)<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/41a6a1681da64e62a4836e852e21f92c.png" /><h2 id="header-0"> What about alternative PoW chains?</h2>But contrary to popular thought, relocating resources and capital to <a href="https://twitter.com/Galois_Capital/status/1552387717832523778?s&#61;20&amp;t&#61;Au_VCv9dssxIN9FtaULAfQ" rel="noopener noreferrer nofollow">alternative PoW blockchains</a> is not always sustainable. This is largely because increased hash rate (mining activity) on lesser-known PoW chains (while correlated) does not directly cause a price rise of the associated token.See also: <a href="https://minerdaily.com/2021/btc-price-follows-hash-rate-no-not-necessarily/" rel="noopener noreferrer nofollow">https://minerdaily.com/2021/btc-price-follows-hash-rate-no-not-necessarily/</a>If said token has relatively low levels of liquidity or user engagement, it could create an inverse effect, whereby mining difficulty increases (due to more participants) and the rewards, (or chances of earning them), fall. As a result, a majority of profits invariably flow to entities (like institutions) that can leverage the cheapest energy and most extensive facilities.Considering PoW chains like Ethereum Classic (ETC) don’t have nearly the same liquidity, market cap, or user engagement as Ethereum (which accounts for 97% of the GPU miner revenue), <a href="https://www.coindesk.com/business/2021/08/12/ethereum-miners-make-multimillion-dollar-bet-on-upgrade-delay/" rel="noopener noreferrer nofollow">the 90% of Ethereum miners with GPU-based hardware</a> need to look for more viable solutions.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8202b32c9ba54c6da7aa79f938aec083.png" /><h2 id="header-1"> The Caduceus solution</h2>With this in mind, alongside becoming a <a href="https://ethereum.org/en/staking/" rel="noopener noreferrer nofollow">validator on PoS</a> or supporting the growing <a href="https://www.paradigm.xyz/2022/04/zk-hardware" rel="noopener noreferrer nofollow">Zero-Knowledge Proofs (ZKPs) ecosystem</a>, a more pragmatic approach is for miners to contribute their GPU power towards data centres and data-intensive Web3 protocols, like the collective tapestry of Metaverses that require high-performance computing. One shining example amongst these burgeoning options is the metaverse-centric blockchain, <a href="https://caduceus.foundation/" rel="noopener noreferrer nofollow">Caduceus</a>. <a href="https://twitter.com/Bybit_Official/status/1549684144829079554" rel="noopener noreferrer nofollow">Recently listed on Bybit</a> and securing<a href="https://caduceusmetaverseprotocol.medium.com/caduceus-welcomes-hape-the-much-celebrated-nft-fashion-brand-to-join-the-chain-80f568caa8b6" rel="noopener noreferrer nofollow"> partnerships</a> with prominent NFT brands like <a href="https://twitter.com/HAPEsocial" rel="noopener noreferrer nofollow">HAPE</a>, the Caduceus protocol functions as an infrastructure layer for future Metaverse development.<h2 id="header-2"> Buying and selling GPU processing power with $CMP tokens.</h2>The <a href="https://coinmarketcap.com/currencies/caduceus-foundation/" rel="noopener noreferrer nofollow">native $CMP token </a>will help enterprise (institutional) clients purchase and utilize greater degrees of computational power from a global network of Caduceus nodes (miners), ultimately increasing efficiency and reducing rendering cycles – all at a fraction of traditional costs.Furthermore, with an open C2B business structure, the Caduceus ecosystem will also allow any GPU device (like personal laptops) connected to the network to offer idle processing power in exchange for $CMP tokens. In essence, compared to market volatility that impacts conventional mining revenue and profitability, Caduceus offers stronger, more stable incentives for miners and enterprise clients that can mutually benefit via the $CMP token.Rendering nodes:Ethereum PoW miners can become a “rendering node” on Caduceus by locking up a set quantity of CMP tokens. The network will then secure these devices’ processing power through smart contracts. The locked <a href="https://coinmarketcap.com/community/profile/Caduceus" rel="noopener noreferrer nofollow">$CMP</a> tokens will also act as collateral (similar to the <a href="https://filecoin.io/" rel="noopener noreferrer nofollow">Filecoin</a> staking mechanism) to mitigate against malicious behaviour.

Where will Ethereum PoW miners go post-merge?

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Caduceus

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