September 4, 2019, Bitcoin (BTC) is up to 10 thousand dollars again (can not count how many times). However, I have nothing to do with this cause I can not afford even 1 BTC which is worth of more than 10 thousands dollars. So, why not try to mine BTC? Sorry, I can not afford the electricity consumption or a precious mining machine.
It has been 10 years since the appearance of BTC, BTC has proved the value of cryptocurrency BTC has proved the value of cryptocurrency since the its appearance. BTC do crate a high-value industrial chain for society, but the high energy-consumption and centralization of the hashrate are also problems that the BTC has always existed and cannot be solved.
As the price of the currency rises, the miners have iteratively updated their mining equipment. From the initial CPU and GPU to the current ASIC mining machine, the benefit of the iterative update of the mining machine is that the miner has more powerful hashrate. However, in the end, the ASIC mining machine caused a situation in which the monopoly power was generated. (BITMAIN, canaan-creative and other miners occupied half of the BTC). A digital currency that cannot be ASICized and everyone can participate is needed by the mining industry, and the recently launched diskcoin has solved the current problem of the BTC.
An energy-saving and scalable peer-to-peer crypto currency system
Total supply: 21000000
Block time: 4 Minutes
Block size: 8 MB
Initial block reward: 20 DISC
Halving cycle: Every 4 years
Consensus algorithm: CPoC
No ICO, or Premine
POC consensus mechanism
All the time, many people have had a misunderstanding that mining is very power-hungry. This can only be suitable for the BTC, which adopts the Proof of Work (POW) consensus mechanism. Simply speaking, PoW is the distribution of socialism according to work, and the more work you have done, the more reward you can get. The BTC miner needs 7*24 uninterrupted hash calculation to compete for the billing rights of the block. The advantage is that the network is extremely secure, and the disadvantage is that it consumes a lot of energy.
While Diskcoin adopts the Proof of Capacity (POC) consensus mechanism, which can be understood as hardisk mining. The biggest difference between POC and POW is that POW is a real-time calculation hash value, while POC is a pre-calculated hash value which is stored in the hardisk space, and the process of mining is to scan the hash value in the hardisk space.
The hash value generated by the POC is one-time. As long as the data is generated and stored in the hardisk, in the subsequent mining, you can repeatedly use the hash value in the hardisk to compete for the accounting rights of the block. Therefore, POC is also called “POW2.0”. POC artificially creates the advantage of space for time, so POC is very energy-saving and extremely safe.
BTC has been blamed for the centralization of concentrated hashrate all the time, and will this all appear in Diskcoin? The answer is no. The centralization of the BTC is mainly due to the openness of the POW, any miner can be freely entered and exited in PoW. But Diskcoin adopts the staking mechanism to prevent this situation. The staking mechanism, to be simple, is that the miners have to stake enough coins to get the most reward, otherwise the miners can only get few reward.
The staking mechanism was extremely friendly to the developing project in the early days. In view other crypto currencies, there were too many projects failed just because the miners sold off the large number of coins acquired at very low cost. But, Diskcoin’s staking mechanism can greatly alleviate this situation.
Want to customize a professional hard drive to mine Diskcoin? Sorry, it is impossible. Although the POC is similar to the POW, it seems that there is a possibility of real-time calculation. However, the block generation time has only 4 minutes, even the most powerful ASIC can’t be complete the calculation within such a short time.
Want to be a super miner? Sorry again, In Diskcoin, if anyone or group want to get the most of mining reward, they have to stake a large amount of coins, which can not be realized in the early stage. Even if they do buy a large amount of coins to mine, it can cause the price of coins to increase, and everyone can get benefits.
For the miners who want to participate in mining, the cost of POW mining is extremely high. Either the electricity bill or the mining machine can not be afford by ordinary people, the green energy-saving hardisk mining mode created by Diskcoin is actually lowered the entry barrier, and everyone can participated in mining. We have reason to believe that Diskcoin can use the POC capacity to prove the white paper concept of Satoshi that one person and one vote, so that mining can enter thousands of households.