Gamma was inspired to host a fun community-wide event—everyone is invited: Proof of Work Celebration! Let’s celebrate and educate community members on the value of proof of work. Get started here or continue reading below for how it works.
Why Proof of Work?
Proof of work (PoW) is the most time-tested consensus mechanism, allowing for a truly decentralized blockchain that awards people who continually expend resources to settle and secure transactions, and enabling a user owned internet. Proof of work can get some negative press given its energy usage, but this energy is the resource used on an ongoing basis to ensure the blockchain rewards miners as a meritocracy (by ability or innovation) rather than rewarding those with the most wealth.
Despite Bitcoin mining only representing a fraction of the energy usage of the traditional banking industry, it is leading the charge for renewable energy usage. In many areas, Bitcoin mining even incentivizes the transition to sustainable resources by rewarding investment into sustainable renewable sources with Bitcoin rewards, making energy infrastructure more resilient and reducing the cost of renewables through mass adoption.
About 60% of all Bitcoin mining uses renewable energy sources, a number that grows each year. What’s more, Stacks, Lightning, and other payments and smart contract layers can build on top of Bitcoin without expending any meaningful additional energy, thus recycling PoW at scale. For example, Stacks uses Proof of Transfer (PoX) for its consensus mechanism, recycling Bitcoin’s Proof of Work. For all of these reasons (and many more!) we’re proud to celebrate and expand awareness on the true value of proof of work.
To tie things back to our event, PoW is present in every day life—you’re rewarded for the work you complete. So, let’s memorialize that on the blockchain!
What’s the event and how can I participate?
To join in the fun, you’ll take submit a picture of your work. It could be in progress or completed, your profession or hobby… just be yourself, creative, and have fun! You can show off your skills or show us something you are proud of: whatever you decide is what we want as long as you put work into what you share. Be smart and keep submissions original and suitable for all ages.
We will create a Proof of Work NFT collection featuring all participants, airdropping each participant’s NFT to their provided address. The collection will be released on September 5th, Labor Day. You’ll be able to keep and cherish your NFT, set it as your profile picture, or trade it with others on the marketplace.
How it works
We have created a Block Survey form to streamline the submission process. This platform is privacy-centric and encrypts all submissions end-to-end in decentralized storage. To participate:
- Submit a photo or artwork of your work in progress or a job well done. It can be anything: your garden, some code, a painting, or anything else you’ve worked on.
- On Sept 5th, Labor Day, we’ll airdrop you your “proof of work NFT,” memorializing your job well done.
When you are ready to begin, complete the Block Survey form!
Submissions will close on Wednesday, August 31st. Enjoy!