What about Proof of Capacity?

[Abiky]

PoW and PoS coins are getting all of the attention these days. But PoC coins such as Signa (formerly Burst) and Chia are being left behind in the dust. I'm talking about cryptocurrencies that can only be "mined" using your free hard drive space.

I mean, is there a future for these kind of coins? Or is all hope lost?

Feel free to share your opinion/thoughts about this. Thanks.

[zeuner]

Whilst PoC seems to nicely complement PoW, proving capacity usually creates insane wear on the HDDs and SSDs used. Thus, a lot of waste is generated, and there is no real advantage over PoW.

Maybe this could change when using workloads that are actually useful as a side effect, e.g. for archiving, in order to prove capacity. Until then, I don't see enough advantage in putting resources into PoC schemes.

[coin-investor]

PoW and PoS coins are getting all of the attention these days. But PoC coins such as Signa (formerly Burst) and Chia are being left behind in the dust. I'm talking about cryptocurrencies that can only be "mined" using your free hard drive space.

I used to have Burst coin, not from mining, but I bought it in the hope that it would pump and reach its potential like Bitcoin. Unfortunately, it failed to meet my expectations, so I have no choice but to sell it at a loss. The technology is evolving, and some concepts will be left behind; sadly, mining through a hard drive is one of these.

I mean, is there a future for these kind of coins? Or is all hope lost?

I don't think so; I couldn't find any discussion about this concept in the last five years until you brought it up now.

[Abiky]

Whilst PoC seems to nicely complement PoW, proving capacity usually creates insane wear on the HDDs and SSDs used. Thus, a lot of waste is generated, and there is no real advantage over PoW.

Maybe this could change when using workloads that are actually useful as a side effect, e.g. for archiving, in order to prove capacity. Until then, I don't see enough advantage in putting resources into PoC schemes.

SSDs would be the ones mostly affected with PoC mining because of the way they're designed. Flash memory isn't meant to experience read/writes at a constant rate. HDDs are a much better choice. What I'm worried about is data centers' ability to centralize cryptocurrencies based on this unique mining algorithm. Unless, leading coins such as Signa and Chia come with a better approach. Developers can simply introduce a mechanism that would lower block rewards to individuals with large amounts of storage space. This would effectively bring the "little guy" back into the system.

Funny thing is that Signa and Chia are the only coins with a PoC consensus model. All of the rest are either classic PoW or PoS "shitcoins". Seems that there's no future in HDD mining at all. But I could be wrong...

[passwordnow]

I remember burstcoin and they were a thing around 2017-2018 but it didn't gained traction. And I think that's because of the trend that keeps on changing on the market, they're left behind. Maybe, if some big corporation will start to adopt and implement mining through PoC, it might get an attention these days.

Seems that there's no future in HDD mining at all. But I could be wrong...

You've said it already and one thing about it is that it's less profitable than PoW and PoS.