New cryptocoin with more fair distribution - Cryptocurrency “Farming” Could Make Blockchain More Eco-Friendly
BitTorrent inventor Bram Cohen wants to make a cryptocurrency that's more eco-friendly. Instead of relying on the electricity-wasteful proof of work model for verifying transactions, Cohen proposes using proof of time and storage.!
FARMING NOT MINING
The proof of work model, according to Cohen, is also prone to instability, because the few bitcoin miners with access to cheap electricity actually end up having an outsized influence. “The idea is to make a better bitcoin, to fix the centralization problems,” Cohen told TechCrunch. In this sense, Chia becomes an even more decentralized blockchain.
Full article source: https://futurism.com/cryptocurrency-farming-blockchain-eco-friendly/
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