A punching bag rewards crypto for being abused

A punching bag rewards crypto for being abused

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There are many ways to earn cryptocurrency—mining, referral programs offered by legitimate projects, interest-earning accounts. Just be careful to avoid sources that promise free crypto. While the methods of earning vary and can provide nice returns in some cases, none is capable of offering the level of fun that a new option provides. Not only will it help you stay in shape, it rewards crypto.

The stress-relieving punching bag is the brainchild of entrepreneur Amr Saleh, who apparently had a lightbulb moment when attacking a bag one day. His device is just a proof-of-concept at this point, but the idea could allow users to box and earn crypto at the same time. He explains in a Medium post, “I like MMA, I like working out, but I find it hard to commit to going to the gym with my busy schedule. I got a punching bag at home and I still struggle with committing to my workout. Knowing the rule of loss aversion, and that losing money hurts more than gaining muscle feels good I thought, why not add a financial motive to help me stick to my exercise plan!”

The pugilistic crypto fan locks in a certain amount of crypto into a smart contract and commits to a certain number of punches over a designated period. If the goal is reached, the locked-up crypto is returned; if not, it goes to the destination, such as a charity, designated when the smart contract was configured.

Saleh’s system works by connecting Elk, a blockchain development board created by Saleh and a development team that runs the Go Ethereum client, to the bag and an accelerometer. Elk logs the punching bag data to the smart contract using a software developers kit (SDK).

While the concept of a crypto-linked punching bag may not be ideal for everyone, Saleh’s invention is also noteworthy for what it demonstrates about the ease with which blockchains can be utilized. They’re not just for managing large corporate infrastructures or supply chains, but can also be easily adapted for consumer-level solutions. The range of what is possible with blockchains is only limited by the imagination.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.