In November 2019, we had some conversations with Sean Barger, CEO and Founder of CPUcoin on some latest developments in the ecosystem.
Recently, you announced the launch of your first CPUcoin (CPU) earning CGN Miner. What do you aim to achieve with this development?
The CGN miner pays users for the idle time of services, mobile devices, and PCs, pulling together these unused computational resources into a vast, scalable, and reliable network.
CPUcoin then leases this cloud infrastructure to operators of cloud-based applications, who use this system to operate at greater scale and lower cost than conventional methods.
When CPUcoin partnered Cudo Ventures, you said ‘Cudo initial network of 8,000 machines will be a rubber meeting the road deployment for CPUCoin. What are you trying to say in the above statement?
With 8,000 Sas 70 compliant machines, enterprises can use CPUcoin’s CGN as if they are on AWS or Azure, where they know the machines are secure, and deployment on server-class machines will be made available via CPUcoin’s Compute Generation Network.
CPUcoin launched IEO on the 4th August 2019 on Probit exchange after the completion of your ICO. How far did it go? Any stats to share with the world?
This was our first exchange, and we went with Probit, mostly because of their integrity during the process. We were able to list on the exchange after a successful IEO and Exchange sale on QoinPro (their first one where you can instantly convert from any Crypto into CPUcoin).
In general, most IEO’s followed by listings are wildly unsuccessful because of immediate selling pressure. This is why we created our Vesting ERC-20 Token. The most important thing during IEO’s is to have clear token supply control so when immediate selling doesn’t drive the token to 0.
CPUcoin is tapping idle server resources and to make effective use of them by creating a shared economy for DServices (Decentralized Server Applications). How do you find and identify an idle server?
Currently, anyone can install our miner and earn about 1 CPUcoin per day as a “free” miner. We intend on enabling miner node buy-in tiers to increase earnings with locked up tokens.
For example, miners can license a node for $500, and receive $500 worth of tokens at today’s price locked up for 1 year, while earning 5 CPUcoin per day for their committed dService node license.
You created Content Generation Network (CGN) to help slash infrastructure costs as well as allow owners of unused CPU power to earn money. Aside from using CPU coin, do you allow people to earn from this initiative via other coins like Bitcoin?
The intent is to enable seamless conversion into other cryptocurrencies during the earnings cycle via wallet partners.
Additionally, we aren’t limited to CPU power, GPU power is also available from our network. We are also expecting dService developers to eventually release their mining software for different currencies when we launch our mainnet.
CPUcoin is creating the first-of-its-kind Content Generation Network (CGN) that reduces infrastructure costs and lets anyone earn money with their unused CPU power. How do you identify and solve the problem of congestion when your client is using people’s idle CPU power?
Because our miner software already has thread prioritization that favors individual use of the computer, if someone leaves the miner on, it can still operate for individual use, while receiving work.
It will just slow the workload down, enabling the machine to operate normally, even during long-run, cpu/gpu intense video auto-assembly and encoding tasks.
CPU coin is positioned the 1829th largest crypto asset by market cap on CoinMarketCap. What are you doing to push your crypto assets up in the market? What is your target as regards the market?
This is not correct. You are looking at another “CPU” in CMC. We are CPUcoin (CPU) and we have a stepped plan to grow our token economy in the right way to become a top 100 coin. We do not currently show in CMC.
What do you think about the present stagnant crypto market and its future in the finance industry?
I believe the creation of real-world applications, that can be applied to very large markets and have attracted the interest of large enterprise customers, is what blockchain companies should be all about. The days of fake projects, with poorly written white papers and no actual technology or tech that is not battle-tested, is over.
We have licensed the first dService from Equilibrium, and are collaborating to create a dynamic imaging and video transcoding system with API’s that any existing web, mobile app, or DApp can use.
Additionally, the first DApp connected to the dService is a simple, centralized hosted content solution called MediaRich Publisher to change the way content is ingested, shared, embedded, and collaborated on.
This solution is used by large customers to upgrade their systems, UI, batch process and deliver content to anywhere and to dramatically reduce work by creating complete end-to-end automation.
What is a day like as the CEO of CPUcoin?
We are in constant search for real token buyers, setting up events, marketing our new miner, while executing on our development plan.
You differ from other decentralized CPU offering platforms like Golem with a number of features like:
The main difference between us and many of the other systems out there is that we are for just-in-time delivery of enterprise-class content and other requests.
We are dealing in milliseconds for response-times, and are creating a universal platform for anyone to launch and automatically scale their back-end systems on our CGN. (More information can be found in the competitive analysis on our website.)
100,000 transactions per second, no limited TPS. What technology did you put in place to achieve this?
Our CTO was prior 30th employee at Netsuite and is quite familiar with high-volume database management requirements. We are doing an off-chain micro-transaction system and rolling up daily results into the blockchain for speed. See our latest 2.0x whitepaper which takes you through this and the architecture in detail.
You also claim to protect miners from ecosystem risks, is cryptojacking also among?
We accrue results in already existing wallet players that have the ability to exchange and provide a safe location for earned currencies. (Please see our security section found in the whitepaper in regards to bad actors and how we secure the complete end-to-end within our system. More information can be found in our wallet partner strategy on our website.
Your personal life now, what motivated you to invent something of this nature?
At Equilibrium, my other company, we were making a transition to SaaS solutions and realized that the combination of blockchain and the MediaGen DService would be a better way to not only finance the growth of both companies but also create a system that would contribute to the blockchain/crypto community as a whole in a way that no one had addressed to date.
My personal experience in powering and processing billions of assets for Disney, Warner Bros, Sony and Adidas and all that it takes to sell, set-up, provision, and deliver the needs for these companies, also is the foundation for my belief that there is a much-needed grid computing management system that enabled the migration of existing back-end systems out of the old, very expensive ways of doing things and instead would run on a sharing economy to slow cloud spend, and more efficiently utilize the total available compute power the world already has.
Note: This interview was conducted in November 2019.