SteemitCryptoAcademy: Consensus Algorithms by @gaby7491

This time I will talk about the ability test, after reading the teacher's lecture, this topic caught my attention and I wanted to share it with you, thank you very much for reading my homework, let's start.

The Proof of Capacity (PoC) is linked to a concession algorithm that is commonly used in the blockchain, this algorithm allows the use of computer hard disk spaces, to be used as a cryptocurrency mining machine, we remember that there are many More sophisticated but much more expensive mining methods, not to mention high energy consumption costs, this algorithm differs from the proof-of-work algorithm that uses computing power, and the proof of stake that uses available coins.

This algorithm does a fabulous job of storing the block resolution information on your hard drive which we call hashing. This type of mining method is currently being known and is one of the most efficient ones.

The Proof of Capacity was implemented since there was and exists the great problem regarding the use of energy such as the test of work, (PoW), and also because of the problem that there was with the maintenance of Proof of stake (PoS) .

In the grant algorithm (PoW), the mining machines seek to change the hash number very quickly so that the correct combination is found and the transaction is correctly validated before the next block.

Time is something that is generally indifferent for many hard drives since not all have the same specifications.

The Proof of Capacity as we have said, is an algorithm that uses the hard disk space to create hashs which is used to create nodes and thus solve blockchains in the blockchain, this depends on the speed of the hard disk, from storage and whatever it is. Since the algorithm is in charge of finding the correct hash to solve the block.

The Proof of Capacity is constituted by means of two stages.

We trace the hard disk by creating a list with multiple nonce values, each unit has the amount of 8192 hashes, each one numbered from the number 0 to the number 8192, absolutely all the hashes are matched, and the remaining hashes are combine to form pairs of 2 ,. For example, the hash with the number 0 and 1 belong to scoop 0, 2 and 3 to scoop 1, and so on until reaching 8192 hashes.

In this step we would use the mining with the hard disk, these calculate a number of scoops, an example is that let's say that a hard disk begins to mine and generates a scoop number 50, then the hard disk will go to the number scoop 50 of nonce 1, and is governed by these data for the calculation of the term. This procedure is repeated until all the terms of the nonces of the disk are known, once all the hard disk is calculated selects the minimum of the nonces.

When we talk about the term, it is that this represents how long the hard disk will last in seconds since the last block was solved, so that it can begin to solve the next one, if no one has started the resolution of the block in this period of time, the hard disk begins to solve it to receive the reward.

- It has an authentication system (PoC)

- This type of algorithm works with a hard disk storage system.

- It is linked to many projects today of cryptocurrency mining, Burst, Storj etc.

We will name 2 projects that use the algorithm (PoC).

BtcHd: this project allows mining bitcoins in relation to hard drives, it allows mining the BHD cryptocurrency and uses the algorithm (PoC).

BurstCoin: This project uses computer memory instead of expensive projects such as computational calculations, the energy requirements are minimal compared to other projects, The NXT platform allows users great flexibility in project development, which allows BurstCoin one of the best projects for the next generation.

- The Proof of Capacity can be used on any hard drive, regardless of operating systems such as Android.

- Said to be 30 times more efficient than ASIC miners used to mine bitcoins.

- It is not necessary to implement any special hardware, or to upgrade the equipment.

- Mining data can be used very easily after the hard drive finishes solving the block, this allows the resolution of a new block.

- Low energy consumption costs.

- Low costs in relation to other mining equipment such as ASICs, and mining machines.

- The big disadvantage of this algorithm is that nobody knows it.

- The more popular it becomes, the more the possibility of malicious software coming out.

We had this hard drive mining system for a while but as time goes by, the algorithms improve making their end much faster, which is to mine a cryptocurrency, this research was very useful for me since I learned Much about this mining and especially it is extremely useful in countries where energy and high equipment costs force people to develop another type of mining, cheaper and with very good results, thank you for such a valuable topic.