I started writing an article about why Proof of Capacity is the ideal mining algorithm.. I want to hear the thoughts of others before I go to far so I can integrate them if wanted, why do you think so?
I'm thinking:
- Secure
- Energy Efficient
- ASIC Proof
- More decentralized (probably mostly due to ASIC Proofness)
What else?
1. Mining Hardware Available World Wide (Unlike ASIC where only a few companies sell them)
2. Harder for mining whale to take over 51% of network in short period of time due to time needed to plot (ASIC just plug and play)
3. No noise pollution (ASIC and GPU mining create noise from fan)
4. Mining hardware resale value
5. Low mining start up cost (In terms of hardware and monthly electricity bill)
P.S u might want to separate into 2 section part 1 about PoC part 2 about Burst (all its features , escrow , asset management , market place , etc)
there is no 51% attack possible cause you dont include transactions in your block output.
attacking the blockchain by freezing through not submitting mined blocks does not work cause this would drive the diff down quite fast.
due to the use of standard storage devices the whole world may have benefits from the development of cost optimized burst storage hardware.
the asic proofness i would argue by the running costs. like the gpu plotter shows you may build an asic but it wont have any profit benefits if it is used for mining. maybe some asic chip developer creates a usb3 based plotting device some day.
i hope all goes well for me.
