EcoPoW intends to use PoW as the encoding algorithm, meanwhile the blockchain is PoW protected as well.
This particular sentence doesn't make sense to me. What's encoding with Proof-of-Work? Did you perhaps mean timestamp-based algorithm?
This is explained at the beginning of the thread.
However, I made a PPT to explain how
https://docsend.com/view/2n3cjscwf7c2mb29It is like a free protection to the PoW blockchain network.
How is it free? Miners will have to increase their expenses with extra hardware. I'm still not sure how Proof-of-Work helps the "decentralized-storage-network" situation.
Since the miners are already paid with the file storage, the blockchain will not need to issue/mint new coins to pay the miners.
"free" is to blockchain, because the blockchain used to mint coins to gain security.
Miners needs to get hardware, but they have been paid.
People can mine the blockchain at home with common devices.
Why would ordinary people (I presume, the storage users?) pay for mining?
The storage users pay for the storage, and they need to get the proof that their files are honestly stored.
To generate that proof, miners are using encoding.
The encoding algorithm output two things within same computation: 1. the encoded content (replication) 2. PoW blockchain consensus (new block)
So, yes, magicly storage users paid for the mining.
For a normal user, they may prefer to purchase the storage with stable coin such as USDT or DAI, which is also different from Filecoin.
This abruptly centralizes the project. Stable coins are not decentralized.
Yes, maybe USDT is centralized, but DAI (or other algorithm stable coin) can be decentralized.
I'm happy to explain all this.
I do care for the decentralization and PoW.