Mineral currency mainly uses PoS, PoW and PoC as consensus mechanism, which has great development potential, is suitable for long-term holding, and the transaction risk borne by users is small.
PoW's full name,Proof Of Work,and the Chinese name is proof of work mechanism, which is used as a proof to confirm that a certain amount of work has been done. Take bitcoin for example: bitcoin uses this mechanism in the process of block generation. Finding a reasonable block hash requires a large amount of trial calculation. The calculation time depends on the hash operation speed of the machine. If any node in bitcoin network wants to generate a new block and write it into the blockchain, it must solve the puzzle of proving the workload of bitcoin network. Therefore, bitcoin's workload proof is the main work that we commonly call "mining". In the process of "mining", our core purpose is to find the corresponding solution M. for any 64 bit hash value, to find its solution m, there is no fixed algorithm, only relying on the random hash collision of the computer. How many hash collisions a miner can make per second is the representative of its "calculation force". The unit is written as hash / s.
PoS full name Proof of Stake, also known as equity certification mechanism, using PoS digital assets, the system assigns you the corresponding rights according to your age, the currency is the product of the amount of money you hold and the time. Compared to PoW (Proof Of Work), PoS has two advantages. First, PoS does not cause excessive power wastage, because PoS does not need to compete for mining. Second, PoS is more difficult to attack with 51%. Each node in the PoS still assists in creating and verifying new blocks. The reward is proportional to the amount of money (equity) temporarily placed on the network. Malicious deception will be strictly controlled. For example, if a node performs equity proof work on multiple main chains at the same time, the system will confiscate the funds on its chain.
PoC stands for Prove of Capacity, which uses the idle space in the computer hard disk for storage to gain revenue. The larger the hard disk space, the more rewards you can get by storing more content. The advantage of PoC is that the mining threshold is lower, the degree of decentralization is higher, and the energy consumption is smaller.
PoA's full name, Proof of Authority, is simply an authoritative person (pre-recognized) who uses their reputation to verify transactions and blocks. By binding identity and reputation, witnesses are motivated to validate transactions and maintain networks. Safety. A block record transaction is generated by a number of validators and block rewards and transaction fees are obtained. The certifier's identity information is posted on the POA Network home page and must be a US notary. In PoA, the validator is the key to the entire consensus mechanism. The verifier does not need an expensive graphics card and does not need sufficient assets, but he must have a known and authenticated identity. The verifier obtains the right to secure the network by placing this identity in exchange for block rewards. If the verifier has malicious behavior throughout the process, or colludes with other verifiers. That can remove and replace malicious actors through chain management. Existing legal anti-fraud protections are used by participants throughout the network to be protected from the malicious actions of the verifier.