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What Is Proof of Capacity



As an observer who has observed the capacity proof for quite a long time, I must say that I find this trust minimization strategy using hard drive very interesting as a technology.

By using the basic principles of computing, the process of creating blocks is more energy-saving than in workload proof, so it can create a highly scalable distributed database. The capacity proof incentive depends on the capital expenditure in the hard disk and the time to draw them. This is the main trade-off between POC and POW, and the cost of pow is mainly operable. The disk capacity of the main resource used is very rich and has been owned by the participants. Due to the high dispersion of the system, the cost of attacking the network with material war is an insurmountable task.



Now, I wonder why such an elegant and efficient network based on this consensus has not aroused mainstream interest or produced significant network effects so far.Even famous cryptocurrency enthusiasts and so-called hackers seem to turn a blind eye to this technology. So, what happened? Bad luck, social aggression, the inherent consensus problem, or somewhere in between?One thing is certain - History reveals a lot. Post truth, that is, the concept that objective facts are covered under the carpet and replaced by personal beliefs and emotions, is undoubtedly the evidence that the capacity network has taken root so far.

If you often repeat a lie, people will believe it, and you will even believe it yourself.The greatest irony of this sentence is that it is often attributed to Joseph Goebbels' publication on all aspects of Communism (1946) published by the United States Congress. However, no source has ever been found. Therefore, through repetition, this sentence is considered to be what he said. Many such examples can be found in the history of capacity network proof.Burst is the first cryptocurrency to implement the work. As early as 2014, Turing completed the smart contract in the form of automatic transaction (at) in the real-time environment. It was launched in a specific way by an anonymous developer, but he disappeared a year later and left the protocol to the "community".

Yes, "community".

What happened was a shame. The agreement was used by a group of swindlers, criminals and spammers who damaged their personal reputation, stole a lot of money and made people lose interest in it. These people took advantage of the relatively unfair and aggressive exponential decay in the reward distribution plan - the inheritance of their NXT - and eventually forged millions of burst tokens when the network was still in its infancy. When the despicable group left, an experienced and self financing developer group finally controlled burst and made it a respected cryptocurrency. In such a dangerous centralized state, it is certainly not an easy task to pick up cryptocurrency, spend money on infrastructure and develop software for free, nor is it an attractive risk / return ratio.

In hindsight, it is obvious that even though the POC consortium has developed a strong scalability plan for the outbreak of blockchain, it is not enough to curb the huge selling pressure of early whales (mainly miners and swindlers). These whales still hold most of the online currencies, which are more liquid than bitcoin, ether and dollar markets, The surge in bitcoin network value has declined, and this situation continues to this day.Of course, neither pocc nor the burst apps team (the team currently leading the development of the core wallet) can assume causality just because of the correlation, because this is just a classic case of false correlation.However, the destruction of the bear market is not enough to cause distrust and unrest in the POC world. Burst's grand plan has brought no return to anyone. Perhaps developers will create a new network from scratch instead of wasting time and even become the target of slander by miners and pool operators. This is a problem for any team developing tokens. December 2018 is a turning point, which is obvious.

After pocc became a major developer and attracted new members to join the protocol, the difficulty of burst network increased by about 1600% or 17 times. Unfortunately, the mine disaster only attracted more and more miners, but did not attract real enterprises and economic activities. The struggle is understandable because the reputation of the token has been tarnished and has existed for a long time after the swindler left the scene. With the rapid decline in the return of the block and the fierce impact of the ruthless bear market on the market value, suddenly, no one profits from the mining industry, not even large operators.

Therefore, suddenly, a very large mining group from somewhere in China decided to code bitcoin and combine the poc2 consensus used for blasting with the first equity system in the POC field. This is a "copypasta" token, which has no real intention of creating economy except mining / speculation. It is full of loopholes, inherent centralization problems and fixed capital inflows, which directly flow into a suspicious "basic" Wallet - an abhorrent Bhd. The icing on the cake, of course, is the closed source feature of the wallet, and mining requires you to enter the password into the pool. Don't worry about the irony of having to trust entities in a hypothetical system that minimizes trust.

In POC, you can use the same plot format and mine several tokens in a process called collision free mining. The stupid behavior of bitcoin developers makes this back door possible. Imagine if Wright coin used sha256 as the hash algorithm when it was launched in 2011... Well, to be fair, even this analogy is not that bad. Because what Bhd does is to create an insignificant situation for miners in emergencies, they can suddenly mine another chain without affecting their profits. In this case, some people are powerless and greed devours the brain. Things got awkward. Miners and pool operators in the burst community began to be hostile to developers protecting burst as the highest POC cryptocurrency in the space because it interfered with their Bhd profits. All kinds of slander ensure that Bhd is being "attacked". Ironically, some miners who profit most from the Bhd scam are slandering developers by letting miners leave their pools. At that time, there was no choice but to resign and move on.

The problem is that this tragic chain of events shows that the launch of their own POC replication cryptocurrency is a very attractive way, and miners will always ensure to minimize moral and ethical issues for you to participate in your plan. Genius! Today, more and more sudden clones exist. Some have been considered a complete scam, but this does not prevent them from appearing again. People seem to have found a way to crack the road to wealth at the expense of others.

So, when mankind can't see the overall situation, how to prove that the development of ability is beneficial to mankind? What should we do when many competing scams disguised as financial security become popular, and a large number of participants even think that they have no negative impact on the field? How can people benefit from POC based networks and how can POC networks act as monetary tools? Today, among all POC blockchains, only burst continues to attract talents and focuses on creating a real economy driven by its local currency. However, given that some community managers - who happen to be miners - publicly promote tokens such as boom and Bhd, their communities have been in a state of social tension among participants.

Pocc has announced that it is developing a new POC blockchain. They decided to make a rather bold decision to build everything from scratch, including the community. Many issues are still under in-depth discussion and need to be reviewed. Our goal is to present some new content and minimize trust and inequality - except for all the content originally planned for burst but not implemented - such as poc3, dymaxion layer and other novel plot formats. The only good thing Bhd does is that it does not implement a good idea well, which gives pocc room for appropriate improvement and implementation.At the same time, this stray will continue to walk on the road of proving ability space with great interest, hoping that in the next few years, it will eventually flourish and do a good job in distributing wealth to mankind.

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