PoC is a space-based consensus mechanism
The full name of PoC is Proof-of-Capacity. Capacity is actually the meaning of storage space. The reason for using this word is because PoC was originally called PoS (Proof-of-Space), which is a concept of space proof that is justified, but it is unfortunate because of proof of rights (Proof- The abbreviation of of-Stake) is also PoS, so in order to avoid ambiguity considerations, Proof-of-Capacity is finally accepted.
PoC simply means mining based on storage space. We are not going deep into the technical principles today, or aiming to help everyone understand what is going on, so we use a common perspective to explain the principles of PoC. The simplest and rude to say, PoC is based on hard disk mining, who has more hard disk space, who has a greater probability of mining. At this point, some people are sure to have doubts. In the decentralized environment, how do I know how big your hard disk space is?
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Don't worry, PoC uses a special mechanism that requires miners to fill in a hard disk with a specific calculation step to get the data, which cannot be temporarily generated. Friends familiar with PoW know that miners need to constantly perform hash calculations to find random numbers (Nonce) that meet the difficulty conditions; PoC is actually the same, the difference is that it requires miners to calculate these Nonce first, exist in the hard disk, dig Don't forget when you mine, search the hard drive to see if there is any nonce that meets the difficulty conditions.
After so many years of development, the consensus mechanism has continued to have new ways of playing, but the focus of the past two or three years is in the Stake variant. But there has been a trend this year. With the return of consensus, the market has begun to re-make a higher valuation for the PoW Consensus, while the Stake category is significantly behind the PoW. I think the root cause is that the blockchain is a network that emphasizes decentralization. Decentralization is still the core value, not the speed. At present, it is the best to decentralize the PoW mining ecology. This issue may be a bit controversial, but the value of Bitcoin is there, at least until now it is a PoW victory.
This leads to the reason why the market is beginning to pay attention to the logic of PoC. PoC is essentially a space version of PoW. PoW is now very competitive. The investment in computing equipment does not say that it also consumes power resources. This resource cannot be expanded indefinitely. Now that Bitcoin is here, there is no way to see the second and third bitcoins. PoC gives me the feeling that it is a parallel concept with PoW, one based on computing devices and one based on storage devices, which can coexist well. PoC can completely establish an ecology similar to the current PoW, which may be the biggest hot spot in the future market.
And PoC has one of the biggest advantages, that is, although this consensus is similar to the PoW model, it is very energy efficient and clean and environmentally friendly. Because the operation of the storage device consumes power, it is almost negligible compared to the bitcoin ASIC mining machine. This high-security, open-ended consensus is still very clean. This may be a consensus mechanism that the whole world is looking for, and it is also value-oriented beyond the currency. Moreover, the ASIC mining machine is specially made for PoW mining, but the hard disk is all over the world. A huge amount of hard disk sleeps there. If it is idle, it can be used for mining. This is a huge potential ecology.
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