Proof-of-space (PoSpace), the term “proof-of-capacity” (PoC) is also found - a way to express interest in a service (for example, sending email) by allocating non-trivial memory or disk space to solve the problem presented by the service provider .
Content
- 1 History
- 2 Application
- 3 See also
- 4 notes
History
This concept was first formulated in 2013 by the Polish expert [1] . The principle is similar to the term “ proof of work ”.
The method is based on the use of free space on a file storage device (for example, a hard disk ) previously allocated by users, and not on the computing power for cryptocurrency mining, which is a less energy-consuming method, and most importantly, an economic alternative to the classical method of extracting digital currencies.
Mining on a hard disk is different in that it does not require the purchase of expensive graphics cards, high power supplies and motherboards with a huge number of connectors. To make money on HDD, a simple laptop with standard parameters and an integrated video card is enough. However, the requirements for the characteristics of the disk are increasing [2] .
Application
Following the release of Bitcoin , alternatives to its PoW development mechanism were explored. Based on the new proof-of-space principle, Burstcoin was launched in August 2014 [3] . Then other types of cryptocurrencies appeared, for example, SpaceMint (2015) [4] .
See also
- Proof of Work
- Proof of ownership