The essence of PoC, as can be understood by an ordinary person, is to use hard disk mining. Yes, PoW uses CPU (or graphics card, ASIC mining machine, their essence is a stronger computing chip, and the CPU is essentially the same) mining, PoS is based on the currency ratio mining, DPoS is based on voting Determining the super node, and PoC is mining with hard disk.
We can understand this:
– Who is the chip in PoW, and who is easy to dig into the mine;
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– Who is holding the coin in PoS, who is easy to dig into the mine;
– Who gets more votes in DPoS, who can become a super node for mining;
– In PoC, who has a large hard disk capacity, it is easy to dig into the mine.
Is it simple enough to understand!
To understand the specific principles of PoC, we still have to start with Bitcoin PoW (to study blockchain, PoW is a technical concept that you will never be able to circumvent).
The full name of PoW is Proof of Work, which is proof of workload. The so-called workload here is the miner's CPU (or graphics card, ASIC chip, as we said earlier, these hardware is only faster, the essence is not different from the CPU) to perform a calculation called hash algorithm. In short, who can perform more hash calculations per unit time, who has a greater chance of producing a hash result that meets the requirements and then has the right to write to the blockchain.
It can be said that the essence of Bitcoin PoW is the competition for mining. The creation of each new block is to give the miners a "difficult problem". The miners compete by calculation and can compete to find the "answer" that meets the requirements. The miners buy a powerful computing chip and continuously consume power for high-frequency and high-intensity hash calculations to obtain a stronger computing power ratio, and thus obtain a greater probability of finding an "answer." If a bitcoin miner has 20% of the total network power, in theory he can dig up 20% of the new block and get 20% of the block reward (the earliest block has 50 bitcoin rewards, which has now been reduced To 12.5, it will continue to be halved next year).
The PoW mining rules are simple and rude, and the computing power can be freely moved in and out, so that sufficient safety can be established to ensure that the blockchain is not tamper-evident. This is why Bitcoin seems to be simple, but it can become the king of the coin king, occupying about half of the market value.
In addition, bitcoin's forked coins (such as BCH and BSV), Litecoin LTC, Ethereum ETH, Monroe Monero, and Dash Dash are all used in some or part of the PoW mechanism mining currency, but only These currencies may differ from Bitcoin in some technical parameters, but the overall idea is similar.
Our protagonist PoC today has the same effect as Bitcoin PoW, but there are some substantial differences. We know that Bitcoin PoW requires miners to perform hash calculations continuously and repeatedly, and miners need to run their computing chips with high intensity and consume a significant amount of power.
Our PoC has opened up a very clever road: it requires miners to pre-calculate a large number of hash results and store the data on the hard disk; when mining, the miners are also competing to solve the "difficulties". The difference is that the answer to the "difficult" is to be found in the hard drive data, not in real time. Naturally, who has a larger hard drive capacity, and who has the ability to pre-store more "alternative answers", who has a higher probability of finding the "correct answer" that matches the "difficult".
Someone may have to ask, in the PoC mechanism, is it possible for miners to cheat through the chip to calculate the answer? impossible. PoC's algorithm design determines that it is very sensitive to the storage space factor when looking for an "answer", but not so sensitive to the computing power of the chip. The powerful computing power is not great for the mining success rate of miners, but having more storage space can double the success rate of mining. This property of PoC is also aptly called "space for time."