Basically a consensus algorithm is the one used throughout the blockchain network to verify that all the transaction log is being performed correctly, the procedure that this algorithm performs is what the system (nodes) must perform, there are many consensus algorithms that, through their structure, validate transactions differently, but all share the same purpose of validating transactions for the blockchain. This time I will talk about the Proof of capacity, everyone is welcome.
Proof Of Capacity
The Proof of capacity is a consensus algorithm by which they use a method of storing the possible block solutions, this is called (tranzado), the mechanism used here is the proof of work in storage with hard drives, something that It must be taken into account that the more storage space the hard disk has, the larger the solution storage capacity and the faster it will be to solve the block, the anticipated storage process is more efficient since it takes only 4 minutes to solve the block, and through the test of work many other teams take up to 10 minutes.
Characteristics of the Proof of Capacity (POC).
The main features are as follows.
- This system provides more efficiency economically even though it performs the proof of work, but using a hard drive, this saves you large amounts of money.
- The block resolution times vary from hard disk to hard disk since it depends on the space that it has inside to calculate the term time.
The Proof of Capacity works as follows.
Trace (Hard Drive Preparation).
This procedure is carried out by retaining information within the hard disk, this is called nonces, they have amounts of hash which means "transaction record", which are divided into 8192 hashes, which are divided into pairs to finalize The mining process, when they are paired they are known as scoops, within each block there are a total of 4096 scoops, which allow us to store transaction data, for later encryption.
When the previous process is carried out, the hard drive begins the proof of work, validating the transaction and resulting in a resolved block, if the system calculates a resolution period and the block is resolved before the unexpected, it gives another prize. block to solve.
Comparison of proof of capacity (POC) and proof of work (POW).
-Proof of capacity only requires 4 minutes to solve blockchains, otherwise the proof of work needs 10 minutes for resolution with mining machines.
-High efficiency and performance, than proof of work.
-More economical than proof of work.
-No need to be an expert otherwise proof of work which is a more complex system.
Proof of Capacity (POC) projects.
-BurstCoin, is a cryptocurrency that is lowered in the Proof of capacity through the proof of work.
-SpaceMint, works through the consensus protocol with proof of capacity.
-Permacoin, its process is similar to that of BTC mining.
Advantages and disadvantages of capacity testing
- Less expensive.
- Great efficiency.
- Provides faster.
- It's a very basic system.
- This prone to malicious files.
- It is not very recognized.
The Proof of capacity mechanism gives us very good efficiency with respect to other mechanisms such as the proof of work, I find it interesting the use that we can give to an old and old part of a computer, we can put it to good use to generate money Thank you for a topic more full of good learnings.
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