Enlighten me on proof of storage I've never heard of it.
I don't think thats what I'm proposing.
Proof of storage is basically where you would be paid for storing information, rather than doing work.
My first priority is a crypto ledger that replaces the role of government money and government intellectual property.
Proof of storage looks pretty awesome, I wasn't sure it existed, but I think it could be a good piece of the puzzle. Thank you.
You should be credited for your submission
So why can't it work?
Could the proof of storage, be an encrypted message, where the sender sets the price?
Only the sender can decrypt for free. Everyone else has to pay with POW, or POStake.
It can't work because there's no easy way to verify it. Look at Bitcoin's proof of work. It's very hard to find a block, because it takes a ridiculous number of hashes to do so on average, but it takes only one hash to verify that someone has a correct block. Similarly, proof of storage would have to be the same way, that is, easy to verify. However, how do you do it? If you just ask for a hash of the data the node is being paid for storing, then that node can just store the hash of the data and keep getting paid. The only way to verify that a node is storing something is to have the data yourself and have that node send it to you, every byte, and compare it against what you have. Therefore, you have to do the same work as the node to verify the node is doing what it's supposed to.