SteemitCryptoAcademy: Consensus Algorithms by @omar2021

It is important to know the use of each of the algorithms that make the resolution of the blockchains possible, through his conference I have learned that each algorithm works differently but with the same purpose, to solve blockchains. Here is my homework.

This system works in blockchains on the blockchain network, it allows to solve blockchains by using the storage of a hard disk, all this to mine cryptocurrencies, this is beneficial in a certain way since it is a cheap and very easy to use system This system is responsible for using memory to save the largest amount of data and to solve the chain of blocks, if it is solved below the established time, the system gives as a reward another chain of blocks to solve it. Many users today see this system as obsolete due to the large equipment that currently exists, but we can say that this system is much more economically beneficial compared to current mining machines, I know that they are characterized by being consumers of large amounts of energy.

This system was created to provide the solution to problems that the proof of work and the proof of participation presented, saving large sums of money, since in this system only a hard disk of a computer or a computer would be used.

- This system is very good since it is characterized by its efficiency compared to systems such as POW and POS.

- Take advantage of the hard drive storage system.

- The blockchains that use this mining system are Burst, Chia, Spacemint. Storj.

- Efficiently it is better than other systems.

To perform this mining procedure it is necessary to do the following.

The first thing we must do for this process is to list the values that are called "nonce" with an amount of 8192 hashes, starting from the number 0, through an internal process of agglomeration of hash, the hashes are placed in a wall of 2, and The adjacent ones are combined to form pairs, the hash pairs when put together are known as scoops. Each ID can contain as many as 4095 Scoops.

This system saves information in batches on the hard disk to solve the chain of blocks, these are carried out in the creation of scoops, when the disk begins to work, the system begins to create hashes and consequently creates scoops which create IDs that allow solve the blockchain, this will assign the deadline for the resolution of the blockchain. So the more space the disk has, the more likely it is to resolve the block faster.

- the proof of capacity can create blocks in just 4 minutes and the proof of work in 10 minutes.

- The Proof of capacity has better performance in equipment in consuming energy compared to the proof of work.

- In the Proof of capacity it can be implemented in any equipment that uses a hard disk, and in the proof of work only equipment with very high costs and with strict specifications can be used.

BurstCoin: this project benefits from mining cryptocurrencies from a hard drive, solves blockchains with proof of capacity, this allows higher performance corresponding to energy and commission costs that can be detrimental to many.

- It has the benefit of being much cheaper than other systems, such as proof of work.

- Compared to the work it performs and the specifications for use, it is much more efficient than other systems.

- An algorithm takes care of the whole process.

- Electricity consumption is minimal.

- they have described it as 30 times more efficient than ASIC miners.

- It is Distributed.

- It benefits those who have more space in storage units.

- This type of mining is unknown.

- Malicious users can implement malware on the system.

- It has problems with decentralization.

It is important to know the use of this system which is beneficial for many of us, this topic is very useful since we know each of the tools that the creation of cryptocurrencies has in a mining way, what caught my attention, is This method can be created in any condition and just by having a CPU unit, you can start generating money with the Proof of Capacity.

CC @alphafx @steemcurator01 @steemcurator02 @steemitblog