Why is PoW currency still able to be widely recognized when PoW is widely recognized for its energy consumption and power monopoly? The new consensus mechanism emerges in an endless stream (especially with the two rights-based consensuses of PoS and DPoS) and the challenges are repeated. Do you account for more than 70% of the total market capitalization? All thanks to the openness of the PoW ecosystem. As discussed in detail above, the openness of this system, or the so-called "infinite expansion of computing power infrastructure", guarantees the decentralization of the PoW ecosystem, which is impossible to achieve in any way based on the consensus mechanism of rights; Decentralization is precisely the most important and core appeal in the blockchain world.
Recently, the market has begun to pay attention to PoC (Proof of Capacity), which is not just a simple concept hype. Some people think that PoC has all the major advantages of PoW, and it perfectly avoids the two constraints of PoW high energy consumption and mining ASIC, which may impact the huge PoW ecology. As PoC mines based on storage devices, it will form a “parallel challenge” for PoW based on computing chip mining, partially replacing the existing PoW share; if the PoC ecosystem is healthy, it is more likely to “recreate a PoW”. This is a super new blue ocean that cannot be ignored in the entire cryptocurrency and blockchain field.
From the bottom of the principle, PoC and PoW have similarities and comparability: they are like a pair of brothers, the door is the same, but the path is different. The so-called door is the same, because both PoC and PoW belong to “competitive mining”, and miners need to compete for billing rights and win block rewards by finding hashes that meet certain conditions; both have The “infinite expansion of the computing infrastructure” ensures a more thorough decentralized and fair and open ecological identity.
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The main difference between PoC and PoW is the implementation path. The PoC requires the miner to calculate a series of hash values for mining in advance, stored in an array in the hard disk; when participating in the mining activity, the miner retrieves the array in the hard disk to find the "answer" that best meets the conditions of the block. PoC uses an extremely slow hash algorithm, so that the bottleneck for getting the "correct answer" comes from the storage capacity, not the speed of the chip. This mechanism requires miners to prepare more storage space instead of stacking power.
But more importantly, we will find that the PoC mining mechanism only requires hardware for the storage device, and does not consume too much power energy like PoW. In fact, the storage device only needs normal power supply to meet the retrieval and verification behavior involved in PoC mining activities. The hash array that the miners have calculated in advance is called a “Plot file”. These data can be calculated once and reused over a long period of time, directly avoiding unnecessary energy consumption. It can be said that PoC saves almost all power resources while maintaining the same security and decentralization of PoW.
What is Lava?
Lava is a decentralized digital encryption infrastructure based on PoC (Space Capacity Proof). Lava's role positioning is the trust credential and top-level index of the global generalized storage space. In the future, Lava will evolve into a meaningful storage infrastructure that supports applications and services based on decentralized storage networks. Lava condenses the consensus value from the storage space and realizes the feedback of trust value to form a complete closed loop. There is only one Filecoin, and Lava can be the top public facility of countless Filecoins.
PoC has the characteristics of natural decentralization, fairness, openness, cleanliness and environmental protection, and is a consensus mechanism that is easily accepted by the universal values of mainstream society. PoC energy consumption is extremely low but security is high, there is no upper limit for network expansion, and there is no ASIC problem in storage devices, and everyone can participate fairly. The cryptocurrency of the PoW ecosystem occupies 80% of the current market value of the market. The PoC characteristics are superior. It is currently on the eve of the outbreak. In the next three to five years, there may be a broad consensus on the volume of the PoW. There is huge room for growth.
Lava has a total of 332.8 million pieces, 4 minutes out of order; bitcoin-style convergence issuance. The Lava base will reduce the half-year production by half a year and the team will only reserve a small amount (about 7% of the total amount) of tokens. The rest is completely produced by mining, without ICO, private placement. Lava is a completely decentralized open source blockchain protocol. The entire network is free to move in and out without restrictions. Lava's "Flint Consensus" is based on the consensus of the previous goal, supporting the mortgage Lava to obtain double mining output, but not mandatory.
LAVA official website: http://www.lavatech.org/