Because of the existence of consensus, human beings can collaborate on a large scale. In recent years, participants in digital currencies are increasing precisely because of the existence of consensus. In the world of digital currency, consensus can be said to be the soul. Today, I will briefly introduce the factors of the rise of Disc and POC consensus.
Of course, to understand the POC, I have to mention the POW- Proof of Work. POW was born in 2001. The earliest purpose was to solve the problem of spam generation. Its core idea is to use a kind of CPU operation to "Low-efficient prover and high-efficient verifier." The "efficient" algorithm achieves the purpose that the prover proves to the verifier of its investment in a certain amount of computing resources. In social communication mainly based on mail at that time, it was used to increase the sending overhead of spammers.
It wasn't until later that the POW consensus was used on the blockchain, igniting the industry's first beam of light, and more consensus mechanisms bloomed. All kinds of consensus have their advantages and disadvantages. Today we will talk about the POC consensus used by DISC.
The core concept of POC is to "Low-efficient prover and high-efficient verifier" on storage resources to achieve that verifiers can spend very little storage resources and that in less computing time, verify that the prover has a certain amount of storage space. This is the difference between POW and POC. There is an essential difference between the Proof of Work and Proof of Capacity.
What is the difference between POW and POC?
Give you a very simple example:
In the POW mode, the blockchain network is like an examiner. On average, a question is produced every 10 minutes. The miner is the student of the exam. According to everyone's computing power, this problem is solved. The computing power represents the ability to solve the problem, so everyone is pursuing to increase computing power, and the computing power increased by geometric times. Whoever makes more efforts to solve this problem and give the answer to the examiner will get the final reward.
In the POC mode, it is equivalent to an examiner asking a question every 4 minutes on average, and students who are miners each have an answer bank on hand. The size of the answer bank depends on the size of the hard disk you participate in mining. All miners are searching for the correct answer on their own answer bank, and submit the answer that you think is close to the examiner. The submitter who is closest to the correct answer is rewarded. Basically, the hit rate of answers submitted by students depends on the size of your answer bank. The larger your answer bank, the more chance you have to get the highest score.
How POC stand out among many consensuses?
The natural advantage of POC is that it is more fair, more practical, lower entry barriers, green and environmental protection, and everyone can participate in. It has always been the slogan of those who believe in POC. It is true and false? Let us understand in depth.
- Low price and ultra-low power consumption: POC miners need only a computer hard disk to mine. At present, the market price of hard disks is about 50$. Compared with other digital currencies that need mining machines, graphic cards, and ASIC chips, the cost of POC mining is lower.
- Refusal of monopoly and income stability: Although POC hard disk mining is similar in concept to POW, a mortgage mechanism (or destruction mechanism) is added at the beginning of the design, and the output, mortgage, and destruction mechanisms are fixed every day. The deflation of the POC currency is guaranteed, making the POC currency in the market more circulating. The current hard disk technology has just developed into a bottleneck period, so it is relatively fair and naturally anti-monopoly.
- Strong anti-risk ability: In 2019, there are more and more projects based on hard disk POC mining. One machine can mine several POC coins at the same time or even one hard disk can mine several POC coins at the same time, which can achieve multiple benefits with small mutual influence. Wide range of hard disk usage. The wide range of use and use value makes the hard disk have an excellent product value retention rate. Compared with POW miners, it is difficult to eliminate and discard, and it is easier to sell or reuse it.
Based on the above points, it is not difficult to see that DISC chose the POC consensus is a very correct choice. In terms of mining participation threshold and consumption of resources, POC is significantly better than other consensus mechanisms, which is also the main reason that the POC consensus mechanism becomes more popular in 2019.