Topic: Is there a better consensus based on mining? show your opinion! - page 2. (Read 260 times)

Extremely agree with you!
So, design an algorithm for ordinary PC and mining can be conducted fairly. Now it seems that is the only way to achieve this goal.

I guess people who prefer the current model are  doing it for security reasons or
 popular economic principle. It could fail eventually for many reasons.
The  important thing (I believe) is to have as many random people as possible participate in mining for the sake of decentralization and security  of a cryptocurrency. 

I find enigma and bitcoin diamond to be the best energy saving coins when mining because of their algorithm, although POS( prove of stake) is the best choice and hassle free, As for PoW, X11, X13, X14, X15, and X17 algorithms are the best for energy efficiency at the moment.

I agree with you that X20 is a good algorithm, but it is still not decentralized.
If there is an algorithm that allows existing ordinary computers to participate in mining at home or in the workplace, it is foreseeable that this method has unparalleled advantages.
To achieve this goal, low energy consumption is necessary, and another necessary condition is that no professional equipment can have higher efficiency. The 10%, 20% advantage may be acceptable, but 100%, 200%, or higher is not acceptable.
In addition, the waste of social resources caused by ASIC is great. Not only energy waste, but also competition with IC production capacity, the price of iPhone may therefore be higher.

I think that the main point of energy-saving should be on the algo, if you are seeing more and more developers are creating new algos with more and more efficiency compared with the old algo. Remember when it comes to the algo that is having a very high efficiency that can reduce energy consumption.
I think that you must try to see X20 or X11 algorithm. both have been used by some coins too.

Recently, I have paid attention to some projects of PoST (Proof of Space Time) type. Inspired by this, I want to explore whether it is possible to invent a new consensus algorithm that takes into account the energy saving of POST and also takes into account the security of POW. That is to say, the operation of the consensus algorithm requires CPU / GPU, RAM, and hard disk from the hardware level, and the three coexist.
Obviously, a qualified consensus algorithm should have the following characteristics:
1、Energy saving
2、Safety
3、Decentralized

Energy saving: With reference to the current mining behavior of BTC, it can be basically considered that mining that does not save energy will definitely lose decentralization. Obviously, the high energy consumption of BTC mining forces miners to run mining machines in places with extremely low electricity costs. This is not an easy condition to implement, which limits a large number of ordinary people who want to participate in mining. So if we want more people to participate in mining, the ratio of electricity cost per unit time to the value of mining equipment must be low enough.

Security: Security is the foundation of any blockchain project. So far, we have seen that the POW algorithm has unparalleled security, so combining POW as much as possible can improve the security of the POST consensus. insufficient.

Decentralization: If the consensus algorithm can constrain CPU / GPU, RAM, and hard disk proportionally at the hardware level, in order to have the best economic benefits under a specific proportion of the configuration. If it can be achieved, then can we think that we can make the existing ordinary PC be the "mining machine" with the best economic benefits. Realize Satoshi's vision "one CPU, one vote".