Re: BTC halving party is over, MASS PoC takes you back to ten years ago
The day has finally arrived for the much-anticipated Bitcoin coin halving event. Now miners will get 6.25 bitcoin as a reward for mining every bitcoin block.
Initially, anyone with a computer could mine bitcoin, but it quickly turned into an arms race. Bitcoin mining now is only a concern for miners who can afford expensive mining hardware that eats too much electricity. There is no space in the bitcoin mining now for people who have an ordinary computing device.
If you are crypto mining enthusiastic and don't have expensive mining hardware don't worry there are cryptocurrencies that you can mine on your computer. One such crypto is MASS which we will discuss in the remaining part of this thread.
MASS Blockchain Consensus Engine
MASS is developed with the aim to solve the mining problem that lies in early blockchains based on PoW. It introduces a consensus engine whose purpose is to become the basic infrastructure to all blockchain consensus layers. MASS adopted the Proof-of-Capacity (PoC) consensus algorithm, this consensus algorithm help in creating a consensus layer that is permission less, fair, energy efficiency, secure, and universal while ensuring the fundamental security of the public chain.
What distinguishes MASS from other blockchain is that nodes participating in consensus process use their storage capacity to participate in the consensus process. This means that anyone who has a computer running with a storage device can participate in mining the MASS. There is no requirement for expensive hardware and paying heavy electricity bills.
Mass - shifting the mining process from expensive Miners to storage capacity.
Proof of Capacity Consensus Algorithm
This consensus algorithm is based on providing proof of storage space. Every node has to provide a valid proof of the capacity in order to submit a block to the network and claim reward. The algorithm makes it impossible for any node to generate capacity proof without having the corresponding storage size, and this proof can be verified by every node that participates in the consensus process. Block is accepted by the network only if both the block data and the proof of capacity are valid.
MASS Features
1. Permission less
Based on the Satoshi principle of decentralization, any node can join the MASS network without requiring any permission.
2. Fair
The consensus protocol makes sure that only a node having valid proof of effective capacity can generate a block. Also, the proof of effective capacity is storage medium independent, this makes all nodes of the network at the same marginal costs.
3. Energy Efficient.
Compared to PoW, MASS PoC has extremely low computing and energy consumption. There is no continuous requirement of power and storage capacity when not participating in the MASS network can be reformatted and used for other purposes.
4. Universal
Nodes in MASS network can support multiple blockchain instances in parallel as same storage space can provide valid proof of capacity to different blockchain consensus instances.
5. Secure.
All these features don't come at the cost of compromise on security. In terms of security, the MASS and PoW consensus protocols are very similar. Using the theory of Time-memory trade-off, the PoC protocol ensures the unforgeability of proofs, and together with the use of a verifiable random function ensures that the MASS system has 51% Byzantine Fault Tolerance.
Incentive
MASS has controlled inflation, as there will be 206,438,400 MASS tokens that will be ever generated in 15 different periods. Reward will be halved while moving from one period to another. The first halving will take place at a block height of
13440 and total of 1024 block rewards will be issued with each MASS block before the first halving. The miner who creates the new block through PoC mining is awarded 192 MASS as a base reward.
You can find complete detail about mass here https://docs.massnet.org/en/
first Since its launch it seems to have a steady price between $0.5 to $0.7. I think so far the coin will work well on every exchange. but in my opinion, for now we are better off buying them from every exchange when compared to mining them. I think this is more interesting