A Cryptocurrency Based on Proofs of Space
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Wats difference between burst and spacemint? It's an idea or launched in market wow hard disk mining ll get popular if there more than one in market
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@dvndr007 people are getting confused here... This is the original white paper publishing the conecept of a PoC crypto-currency. It is what Burst is based on. Through his beautiful figures, @daWallet has highlighted the fact that the concept, which holds a central theme of decentralized mining, is flourishing.
Edit: "central theme of decentralization" - lol!
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@daWallet @gadrah what are the others represented in that graphs (like accounts with less than x% of mining power? how much percent?)? the ones represented individually are pools right?
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@gpedro @luxe knows the exact function.
@Daforce You can't compare your diagram with the one of Burst: Yours sums up the pools. Burst is way younger as a network and doesn't have as much pool as Bitcoin. http://util.burst-team.us:8888/pool . The diagram here shows the individual account that found a block in a timeframe of 1000 blocks.The paper quoted and linked above got released in 2015 but it may be worked on for at least two years, possibly longer. Some part of me believes that one of these guys (or multiple of them) from this paper or of the related papers are tied to the creation of Burstcoin.
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@gpedro No pools shown there, it's the biggest mining accounts, others are smaller (less blocks). The chart is hardcoded to a limited number of accounts shown.
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@daWallet said in A Cryptocurrency Based on Proofs of Space:
Spacemint* : As we all know the theoretical concept of "Spacemint" exists today and is known as *BURST*.I almost got confused with the write-up, Spacemint/Burst ...all thanks to the last paragraph
"As we all know the theoretical concept of "Spacemint" exists today and is known as BURST"
The truth is, with POS or POC ...everybody can easily be part of the party (BurstCoin)
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@daWallet @luxe this graphs should be on biz too ;D
@luxe Regarding that looks cool to me but if you guys put this into biz site please make the range of "Others" to be lower... it appear more decentralized if there is more bars in the graph even if it is the same end result ;D
And if you guys put the graphs in there maybe it would be great if we can have a graph like this to pools... It can even help people to decide wich pool to choose and then help distribute the network a little better xPI know i only give you guys work hahahaha Let me know if you have any questions regarding what i said above ;D
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Can someone please shed light on how Burst addresses the theoretical 'nothing-at-stake' issue, or if it is an issue at all? Quote from Spacemint whitepaper:
"Addressing the “nothing-at-stake” problem: We propose
novel approaches to the known problems of grinding
and mining multiple chains in non-proof-of-work based
systems. Our solutions can also be extended to the proof-of-stake
setting where these issues were first encountered."
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I just want to bump this once, as I am in contact with some people writing a master's thesis about "[...] how the Blockchain and decentralized technology can be commercialized and a part of our future society.", and they have asked me to clarify how POC is different to POS, with particular reference to the 'nothing-at-stake' problem. Detailed input is appreciated, but any info is good.
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@Propagandalf
Grinding is to use additional GPUs to calculate nonces on the fly during the approximately 4 minutes Block time in case of Burst. You can do that but the advantage of some GB is minimal. The calculating of some GB on the fly with power hungry GPU is not worth the energy. It's like plotting all the time.Nothing-at-stake is a problem of Proof-Of-Stake coins. You can run multiple wallets of different currencies on one machine. There is nothing at stake because minting Proof-Of-Stake coins costs near to nothing.
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@daWallet Thanks for the reply. So the 'novel approaches' that are mentioned in the Spacemint whitepaper, are in fact the employment of the plotting and mining strategy in hard drives, like we do with Burst? Can I put it simply that nothing-at-stake becomes irrelevant for Burst, since there is 'much at stake' when people have to spend money on buying HDDs, time plotting them and such?
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I will just assume that my last assumption is correct then, and give my reply to the persons who were asking.
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@Propagandalf Sorry, to give you a qualified answer I have to read pages of the whitepaper again. Don't have time for that at the moment.
You could mine two or maybe three coins like Burst, reading always another scoop. But at some point your machine's CPU/GPU is at 100% all the time and you do have a proof of work design in front of you, again. Which uses lot of electricity and significant wear on your hard drives.So, there is something at stake for sure. :)
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@daWallet
No problem, thanks for the answer =) I'm sure that will keep them occupied for a while!

