Perspectives | The Future of PoC in the History of Capacity Proof (PoC)

Why did the POC look up this year?

There are deep-seated reasons, and it is very likely that POC will create a wave of historical level that can reshape the industry.

To explain this, I have to say something technical. The first thing everyone wants to understand is that POC and POW are homologous, and everyone is a good brother. POW is essentially competitive mining. The miners use Hash computing to compete. Whoever has more computing power, whoever is forced, can calculate the power and power, so the calculation of the power competition makes POW The more force, the safer it is. And POC, is to change to take the hard disk space competition, who's hard drive, who will be strong. However, POC has a little advantage, that is, his competition is also to accumulate hardware, but the competition for capacity is not very power-consuming. Therefore, POC is a power-saving version of POW. The difference in principle is not big, but it can save power. This makes sense.

• Following the legalization of mining, Iran intends to push the annual mining license
• QKL123 Quote Analysis | Tail shock wash, next week or will go out (0920)
• The US Congress will hold another cryptocurrency hearing next week, and the encryption industry will face challenges.

According to this logic, many problems can be explained clearly. POW has developed to the present, people have no doubt about its security. This consensus mechanism is too strong. Now basically, I can't think of anything that might destroy Bitcoin. 51% of attacks are too difficult. UTXO is extremely stable and reliable. Seamless. This is why Bitcoin is the most expensive, because the market has to give a certain premium and a leading premium. In a technical sense, in a brand sense, it perfectly explains the technical backwardness of Bitcoin. Now how is the huge market value? It was "recognized" by the market.

However, I have to say that, POW has a hard injury: electricity. A bitcoin will consume so much electricity, more than a lot of small countries in Asia, Africa and Latin America, then the market can still accommodate the second and third bitcoins? It is not that environmentalists are not allowed, and the electricity market is not allowed. If there are 10 projects like Bitcoin, the global power system will be in a mess.

Any currency based on the same hash algorithm, their computing power can be switched at any time, bitcoin is SHA256, then the mining machine can dig bitcoin today, dig BCH tomorrow. So we will say that the security of Bitcoin is guaranteed by the power consumption. If the miners cut off the BCH, it is really easy to attack Bitcoin! In summary, the POW currency has been developed for 10 years now, and it has to face a ceiling that cannot be broken, which is the problem of the loss of power resources.

The reason may be to explain why I think why the POC is likely to create a historical level in the next few years. Because it is also very secure, its consensus and POW are similar, but it does not consume power. It's not that the hard drive doesn't need electricity, but the power consumption is really small compared to the POW. Then, this concept is very powerful. POC requires a certain amount of hardware accumulation to compete for mining to ensure system security, but it does not need so much electricity. This kind of thinking is green and environmentally friendly. It can be said that it caters to the mainstream society's cognitive pain point for the blockchain on the digital cryptocurrency. It is the question that "you charge so much electricity, so I can hardly agree with you." The crack of this cognitive pain point is likely to really bring the digital cryptocurrency to a higher altitude. If you think about the POC space, it will be too big.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!