Proof-of-capacity
Proof-of-capacity (PoC) is a means of proving that a network participant has allocated available memory or disk space to the network to show a financial interest in the network.
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Proof of capacityProof of capacity and proof of capacity like algorithms which are known by a variety of names such as proof of storage, proof of space, and others are mechanisms which require the use of a tangible resource of some form of memory or disk space allocation to create a proof which shows a financial interest in the network. These proofs may then be used in a consensus mechanism for a blockchain or other decentralized protocol to guarantee that miners have correctly stored the information they have committed to store.
- Proof of capacity allows miners to use spare hard drive space instead of computational power to validate blocks.
- Plot files stored on drives contain precomputed hashes miners can quickly match to solve mining puzzles.
- PoC is more energy efficient and ASIC resistant than proof of work mining.
- However, PoC comes with concerns around storage, security, and accessibility.
- Major PoC cryptocurrencies include Burstcoin, Chia, Signum and SpaceMint.
- PoC aims for sustainability but needs more testing and development to reach mainstream potential.
Proof of capacityProof of capacity and proof of capacity like algorithms which are known by a variety of names such as proof of storage, proof of space, and others are mechanisms which require the use of a tangible resource of some form of memory or disk space allocation to create a proof which shows a financial interest in the network. These proofs may then be used in a consensus mechanism for a blockchain or other decentralized protocol to guarantee that miners have correctly stored the information they have committed to store.
- Proof of capacity allows miners to use spare hard drive space instead of computational power to validate blocks.
- Plot files stored on drives contain precomputed hashes miners can quickly match to solve mining puzzles.
- PoC is more energy efficient and ASIC resistant than proof of work mining.
- However, PoC comes with concerns around storage, security, and accessibility.
- Major PoC cryptocurrencies include Burstcoin, Chia, Signum and SpaceMint.
- PoC aims for sustainability but needs more testing and development to reach mainstream potential.
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