Topic: New true-'eco' cryptocurrency: Investors are welcome (Read 239 times)

Website: https://eco-ifsa.net/
Twitter: https://twitter.com/eco_ifsa_net
LinkedIn: https://www.linkedin.com/company/eco-ifsa/

Welcome !

The PoM can and must be used on the better hardware than any other mining equipment, existing till now: CPU, video cards, SSD, ASICs, etc. The PoM implies the use of low cost, small size hardware unit with low power consumption. The hardware prototype (a measuring part with a connection to PC) has been developed. The final unit will have less than 0.08 W power consumption.

All these mean that the mining will be possible on any computers, including old models of laptops and notebooks with the USB port. Even more, the hardware can be easy embedded into any smartphone and tablets (of course, if manufacturers will be interested  ).

Are you sure PoM can't be exploited with better hardware.

Hi !

Thank you very much for your comment. Please let me outlight some details.
Today, there are a few main non-PoW consensus algorithms:

* Proof-of-Capacity (PoC) -  the coin Chia;
* Proof-of-Stake (PoS);
* Proof-of-Measurement (PoM) - proposed by us.

The first one is using a Solid-state Storage Device (SSD) (not ASIC or videocards) based mining (coin Chia). The power consumption is less than for Bitcoin, but in 60-70 times more than at PoM. I addition, SSD is not a reliable device for the mining and must be changed approximately every 80 days ... So, it can not be considered as 100 % eco-friendly algorithm.

The second one do not need the mining, and can be considered as the eco-friendly algorithm, but it has the following known disadvantages:

1) High level of centralization;
2) Very high entry threshold into the network;
3) 'Nothing-as-Stake' problem;
4) A possible hacker attack, which can be coordinated by the network participants themselves.

In addition, as rule, the PoS networks should start at the initial stage with the PoW algorithm.

The PoM is eco-friendly algorithm and has not the disadvantages, mentioned above.

So, the question is: "To mine or not to mine" ? The answer is YES, to mine, but with the true-eco mining (Proof-of-Measurement (PoM) algorithm).

To my opinion, the future perspectives can be the following: PoM or/and combined algorithms (PoM + PoS) instead of PoW + PoS (co-called Proof of Activity (PoA)).

Just thinking, aren't all non PoW consensus algorithms eco-friendly?

Hi,

Thank you very much for your question. The web site is not yet ready.

The Proof of Measurement (PoM) mechanism is working by the following way:

During one measuring cycle, all network participants simultaneously measure a certain parameter of signal with a high accuracy. The one, whose measurement result coincides with the emitter's reference measurement result receives a reward and becomes the emitter of the reference measurement for the next measurement cycle. In case of coincidence of several measurement results with the emitter's measurement, the reward is received by the one, who provided the result earlier, or it is chosen randomly.

The PoM lets to obtain a perfect decentralization at low cost and low energy mining (less than 0.004 % energy/transaction in comparison with the Bitcoin energy/transaction), and eliminate all know disadvantages of PoS approach.

Sincerely,

hello.. can we get a website up? also whats this new Consensus mechanism..? if you guy could explain that in detail?

5 Top Reasons to Invest into New true-Eco Cryptocurrency:

• It will be the first true-'eco', innovative cryptocurrency;
• Unique, novel algorithm (Proof of Measurement (PoM));
• Neither Bitcoin no Ethereum, Chia or Monero clone;
• Efficient, new and ecological way of mining based on accurate measurements instead of power consumed processing (guessing);
• Cheap, low power and reliable equipment for mining.


Main Advantages:

1) Low energy/transaction at the mining: in 60-70 times less than Chia, and in approx. 30,000 times less than Bitcoin (only 0.004 % form the Bitcoin energy/transaction).
2) Much higher level of decentralization in comparison with the cryptocurrencies, which are not mined.
3) It is backed up by technological innovations that open up new opportunities for the global tokenization in very promised areas.

More details are in the Investment Proposal:
https://www.sensorsportal.com/Eco_IFSA/Eco_IFSA_Investment_Proposal.pdf

Investors are welcome !

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