Proof-of-capacity

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.