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RE: Cryptocurrency Mining: Proof of Capacity (PoC)
Thanks for the tip about HDD, that is a definite good shout. This method of mining is quite interesting, what actually goes onto the HDD? Is it some form of Block or is it just like cache files and logs etc?
It's a different approach for sure. I've been reading about Proof of Signature for a while, XBY has developed it, I'm not sure if it's used by others but it totally does away with mining. Definitely, a one to watch in the future.
Great post anyway, very handy and interesting!
The HDD gets filled with plots, these plots of data contain solutions to the problems generated by the chain to create a block. To put it simple, in proof of work, the network generates the problem and sends it to the GPUs and ASICs to solve it. In PoC, the solutions are already created and stored in the HDDs so when the network creates a problem, it selects a solution at random from the many plots of data available in the network.