Because of mining, BTC has created batches of wealthy people. People who know BTC are eager to participate and profit from it. This seemingly reasonable requirement has become increasingly difficult to achieve due to the development of BTC (POW).
What is DISC and what does it bring to the mining industry?
DISC (Diskcoin) is a new cryptocurrency based on CPOC (Conditioned Proof of capacity). It uses hard disk capacity as a carrier of consensus and is currently one of the most fair and consensus POC currencies.
The existence of DISC is to solve a series of problems brought by the current mining industry:
- Centralization, the mining pool holds most of the computing power of the fullnetwork, and network security issues are becoming increasingly serious;
- Monopoly mining by some people, the computing power and price of mining machines are getting higher and higher, and ordinary people cannot participate in mining;
- Power resources are seriously wasted. Traditional mining uses the submitted effective workload as the sole criterion for block production. Therefore, the miner needs 7 * 24 uninterrupted repeated and redundant calculation work;
- The mining risk is high. Due to 7 * 24 hours of uninterrupted work, the service life of the mining machine is very short. Many mining machines willbe scrapped, the bear market is the culprit of "quick scrapping of mining machines".
With regard to these problems, DISC perfectly resolved through POC. It avoids the problems of serious centralization and a lot of waste of resources caused by the traditional mining industry. The biggest advantage of POC is that mining no longer requires a so-called professional mining machine, and an ordinary hard disk can participate in mining.
The CPOC economic model was first proposed by BHD, and Diskcoin carried out a series of optimizations. One of the differences is that in Diskcoin mining, the proportion of coins that need Staking is not simply fixed or decrease progressively. Instead, for the first 1800 blocks, the miners would get 40% block reward at a fixed proportion, and from the block height of 1801, an algorithm named the DES( the Dynamic Equilibrium Staking ) will be activated. The DES will automatically adjust the staking percentage according to the difficulty of mining, the amount of produced Diskcoins and the percentage of Diskcoin staking to ensure the good operation of the whole system.
How much participation cost does DISC mining require?
- Equipment cost. DISC uses hard disks as mining equipment. Compared with the traditional ASIC mining machine used for mining, the price is high. A hard disk is cheaper, everyone can buy several to participate in DISC mining.
- Power cost. Take the mining machine ant S9, which is the most used BTC mining machine, as an example. Its power consumption is 1310W, and the average power consumption of a hard disk is about 5W, which is only 1/260 of the S9 mining machine. Therefore, even for household electricity, we can mine at home without worrying about the cost of electricity.
- Compared with traditional ASIC mining machines, the advantages of hard disks are that they are not easy to lose and the price is stable. Once an ASIC mining machine cannot be mined, its value is only linked to the weight. If the hard disk cannot be mined, it can return to its original storage function.
In summary, compared with ASIC mining machines, hard disks have larger shipments and more stable supplies. Miners no longer need to worry about being harvested by miner manufacturers. Some people may also talk about electricity costs, and think that lower electricity costs will make more money. This is true, but we need to understand one thing: ASIC mining machines, electricity costs can reach about 70% of the entire mining cost. (The value will be greater when the currency price falls.)
Compared with the computer power possessed by a few people, the more decentralized low-power DISC hard disk mining is more in line with the development of the mining industry. It can fairly bring benefits to participants. It is believed that in the near future, DISC can become the new mainstream.