What is POM ?
Good question; no one was questioning this before, though we're talking "CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay]". PoM has more meaning (since we're advising 1st PoM) than a single campaign as done before (which was an approach to protect coin distribution):
https://bitcointalksearch.org/topic/ann-proof-of-mining-campaign-xmg-magi-1st-pos-ii-tor-m7m-cpu-only-802681; some details here:
http://arxiv.org/pdf/1409.7948v1.pdfPoM - proof of mining; by it's definition, the more mining efforts being placed, the more rewards one gets. This is typically right in mining any coins, while it's particularly emphasized in Magi (on individuals' participation), because of the design of PoW block reward. A simple description of the block reward is that it decreases with increasing network hashrate, and may hit zero when network hash is significantly high. A consequence of this is big miners get frustrated. If one is familiar with the block reward (
https://bitcointalksearch.org/topic/m.9991269), you will see block reward could be easily hitting zero. A point here, which was also being argued among people, is who will exit if mining nothing? This is where PoM campaign will be functioning. The campaign will encourage people to keep mining by rewarding despite the amount of block reward. To understand the purpose of the PoM campaign , we can see what happens if we're on the opposite situation - what if generic miners quit first?: 1) big miners keep mining, 2) because of miners quitting, network hash getting low, block reward increasing, and big miners get rewarded more! So now you see PoM campaign is trying to protect the network and to ensure FAIR coin distribution.
To the individuals, PoM means one will receive better rewarding by long term mining. Provided that we, the generic miners, form a solid league, won't give up mining in any situation. One will receive less mining share if big miners are present since they have more hash weight over the rest of miners. It should be noted, however, that coin distribution is pretty much protected by the significantly reduced block reward, as much less coins will be mined in this case. At the time of big miners' leaving, network hash decreasing, not only one gets higher mining share, but also the block reward is high. Then you know why Magi can achieve the FAIRness in coin distribution.
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