Post
Topic
Board Announcements (Altcoins)
Re: New true-'eco' cryptocurrency: Investors are welcome
by
SYurish
on 28/12/2021, 12:16:52 UTC
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-Storage (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)).