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Topic: Mining with network connection instead of CPU (Read 119 times)

member
Activity: 140
Merit: 12
First thought is that the rewards would be insanely low for any average "network miner", considering people could just use gigabit or 10gbps servers. Also the availability of "transactions to mine" would be very low since the available bandwidth would be so high... Reminds me of how Storj, Burst and other "hard drive mining" coins declined so quickly..

Well it all depends, what we agree on is the “average”.  In a year or two the average connection will be on fiber will here in Europe and
gigabit pipes will be the Average. The Bahnhof guys in Sweden are already offering 10Gbits for about €35/month but yes, it is in Sweden and their “average” might be a bit higher then most 🙂 Anyhow the plan is that all nodes that support the network will be incentivised by revenue and not only the fastest nodes. In places (AS networks) where there are many high speed nodes it will be harder for a low speed node to make a difference especially if we are talking ADSL as the stability is so low but an ADSL “network minter” could still make a nice piece of the pie if that node is placed in an area where there are not that many nodes. Then there is also a surge pricing so that low end Nodes at times of high traffic gets an higher minting speed.



newbie
Activity: 70
Merit: 0
First thought is that the rewards would be insanely low for any average "network miner", considering people could just use gigabit or 10gbps servers. Also the availability of "transactions to mine" would be very low since the available bandwidth would be so high... Reminds me of how Storj, Burst and other "hard drive mining" coins declined so quickly..
member
Activity: 140
Merit: 12
We at Quantum1Net has developed a system in which mining or rather minting is done on a Proof-of-Transaction basis compared to the regular Proof-of-Work or Proof-of-Stake.
What it means is that Master nodes is free to set up and that anyone with a computer and a network connection can do so.
Instead of processor power, coins are rewarded based on the traffic that is routed through your node.
All current material on the subject is gathered in our Github;
https://github.com/quantum1net/Documents

What dou you think about the concept about Proof-of-Transaction compared to Proof-of-Work?
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