PoC (Proof of Capacity), Chinese is called capacity proof, space proof.
In fact, this concept is not unique recently. Some years ago, some projects proposed the concept of PoS, but this PoS is not a PoS: the well-known PoS refers to Proof of Stake, which is the proof of equity, and the PoS here is Proof of Space, the proof of space. It is precisely because the acronym PoS is ambiguous and misleading, so the space proof Proof of Space uses another term, PoC (Proof of Capacity), which is the capacity proof we are talking about today. Capacity has the meaning of capacity and volume, and it is very suitable for the concept of mining space capacity mining, so it is accepted by the market. As long as we understand that Proof of Capacity and Proof of Space are homologous things, Capacity and Space here have similar meanings.
So where is the PoC? To sum up, it is a sentence: PoW's advantage PoC is basically there, and PoW's disadvantage PoC is basically not. Isn't your PoW very good? Excuse me, my PoC is also awesome, but I have overcome your shortcomings. The shortcomings of PoW mentioned here are energy waste and the other is mining centering.
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Energy waste is a well-known problem. Some people retort that the energy consumed by Bitcoin is to maintain the security of Bitcoin, so it is not a waste. Let us not refute this logic for the time being, let us see the fact that Bitcoin consumes much more electricity per year than a medium-sized developed country in Europe. In the foreseeable future, electric energy is a limited and scarce resource, and it is impossible to have no upper limit or cost. If Bitcoin consumes electricity from a medium-sized European developed country, how many PoW currencies can the world accommodate?
But PoC is different. PoC is “space-for-time”. It can use a large number of idle storage devices to mine, and the power required to maintain these devices is only a few hundredth of PoW, which can achieve the same security. Sex level. this point is very important! There is a lot of consensus on the power-saving consensus mechanism, such as PoS and DPoS, but people recognize it? Bitcoin has always been the boss, and it is essentially because of the security brought about by the unwarranted and fair competition consensus mechanism of PoW.
The problem of mining centralization is a problem that any PoW can hardly avoid. It can be said that it is the fate of the PoW currency. Bitcoin started mining with CPU, known as "one CPU and one vote", and then became a graphics card and FPGA mining, and later became a specially designed ASIC circuit mining, the threshold of mining suddenly improved a lot, ordinary Unless people invest in mines or participate in the “cloud mining” of the mines, it is impossible to share a piece of bitcoin mining revenue. This phenomenon may directly lead to the centralization of mining, which is a fatal blow to a cryptocurrency. Some bitcoin competitors are known to be resistant to ASICs. Most of the principles are to choose a niche hash algorithm or to constantly change the hash algorithm, but as long as the market value of these currencies is large enough and profitable. The same will happen to the ASIC mining machine.
PoC is born with no such problem of centralized mining. PoC uses hard disk mining, but the requirements for miners' computing power and network IO are not high. Therefore, PoC can truly "people with hard drives around the world can participate in mining", no hardware threshold, no network threshold. The performance of hard disk mining depends basically on the size of the capacity, so it is not necessary to distinguish the high and low of the hard disk. To know that the computing power of the current Bitcoin ASIC mining machine can be millions of times that of a normal CPU, and the hard disk can never have such a "cheating" method!
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