Today, the BTC network exceeds 100 exahash (EH / s) per second, and BCH is also steadily attracting hash power in the entire network. In fact, since the end of 2018, the network computing power of BTC, BCH, and BSV has improved. BTC's entire network computing power has expanded from 32EH / s to the current 110EH / s. By January of this year, BSV's network-wide computing power also surged, jumping from 1EH / s to 3.3EH / s. However, according to Bitcoinist, not long ago (January 30, 2020), the BCH network stopped producing blocks for 5 hours. The event occurred at a block height of 620025, and the next block took more than 5 hours. Just appeared. For BCH, which has always gathered high computing power, the block anomaly this time is likely to be caused by miners switching computing power. Due to the decrease in BCH revenue, miners switched computing power to another currency, and then switched back after the difficulty of BCH decreased, resulting in the strange situation that BCH did not produce blocks for a long time, as happened in 17 years.
Maybe Satoshi Nakamoto had never thought of the situation where the three countries are now competing for computing power. After all, this is exactly the problem brought about by the consensus mechanism POW. The essence of POW is the competition of computing power. Whoever has more computing power can get more rewards. Strong computing power competition ensures the security of the network. However, the competition in computing power is actually the competition of the number of mining machines, and the large amount of mining machines has brought it the most criticized "power cost" problem. Of course, electricity is limited, which means that the computing power of the total output is also limited. The over-concentration of mining machines also led to over-concentration of computing power, which violated the demand for "decentralization" of the blockchain. We used to think that BTC was relatively safe, but if it is assumed that most of the computing power is not on BTC, but switched to BCH and BSV, it will not only cause further congestion problems on the BTC network, but also the safety factor of the BTC network will plummet. ——51% hashrate attack will no longer be so difficult.
Therefore, many different consensus mechanisms have been born successively, such as POS (proof of equity), DPOS (proof of equity authorization), Pool (verification pool), etc., and POC (proof of capacity) broke into the public in 2019 A group of dark horses in perspective. As early as 2014, POC has been formally proposed for blockchain projects.
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The ideas of POC and POW are actually the same. If POW is a competition of computing power, then POC is a competition of capacity. POW requires miners to continue to perform hash calculations. The competition is who first calculates the "correct answer." The POC requires the miners to calculate a large number of "answers" in advance. The "answers" are stored in the hard disk. The more "answers" there are, the greater the chance to confirm the "correct answers."
Therefore, in the POC project, the situation of switching the computing power mentioned above will not occur. All POC project mining requires P disk first. The process of P disk is to write "answers" on the hard disk. In the case that multiple digging is not supported, the "answer" needs to be rewritten when switching computing power. In the process, a lot of power and time costs are required. In this way, the time for malicious switching of computing power can be prevented. However, even POC requires electricity to maintain the operation of the machine. Compared with BTC's mining machines, there are still very few. In general, POC solves the problems of excessive power consumption, centralization of computing power, and network security problems caused by switching computing power.
The benefits of POC go far beyond that. POC mining has a higher demand for hard disks. Compared with the tens of thousands of ASIC mining machines on the market, it reduces too many thresholds and saves a considerable amount of electricity, mine lease, and human resources fees. Very friendly for miners. For the POC star project LAVA in 2019, the needs of miners are only: a standard configuration computer and a limited capacity hard disk. Roughly estimate the current computing power of LAVA at 445.722PB (http://explorer.lavatech.org/),
If you input 1P hash power, you can produce 460.8 LAVA tokens per day; if ordinary users use 8T hard disk for mining, they can get 3.8 tokens per day. According to some existing data, the annual return rate of LAVA mining is at least about 20%. With the continuous development of LAVA and more and broader consensus, the input-output ratio will be very amazing.
Based on the POC consensus, LAVA has optimized the method of issuing the POC consensus and the Plot file generation algorithm to build a more stable and developable ecosystem. In addition, the LAVA technical team spontaneously launched the P disk software, which will be open sourced free of charge to provide opportunities for POC developers to learn and discuss. This will further promote the development of POC and is a very beneficial contribution to the entire blockchain ecosystem. , Also injected more confidence into the ecological development of POC.
At the same time, with the continuous advancement of technology and the popularity of 5G and 6G, it is believed that the impact on people's lives will be tremendous. When more physical storage space is replaced by online storage methods such as cloud storage, it may also be a part of POC mining. Development Opportunities. When POC is gradually popular, maybe we will usher in the era of mining for the whole people. This is more in line with POW's core idea of decentralization than POW. It will also be a qualitative breakthrough for the development of the blockchain industry. .
In 2020, let us continue to look forward to it.