Before the birth of the BTC, people don't believe all over the world thousands of computing nodes can through the Internet, jointly maintain a database. The emergence of BTC proved that a practical, Internet-level Byzantine fault-tolerant system was feasible, and based on this, the democratized issuance of the first digital currency in human history was realized. However, the ADOPTION of PoW consensus algorithm in BTC system has a strong dependence on computing resources, so that BTC and many other blockchain systems that adopt PoW consensus algorithm gradually evolve into a centralized network. BTC is the first cryptocurrency in the world. BTC has been around for 10 years. BTC mine using PoW workload proof. Taking the computing equipment as the mining tool, it can be simply understood that the stronger the calculation performance and the more the quantity of the mining machine, the stronger the calculation force and the higher the mining income. We can find out some technical characteristics of BTC by observation: First BTC is never radicals, technology is picked out the quite mature existing technology to accomplish safe reliable point-to-point cash system, the more was verified, and the more concise, mature technology, the more safe and reliable, used in SHA256 the nakamoto consensus algorithm, for example, was designed by the NSA, the safety credibility is being verified effectively, It indicates that the current ASIC (Application-specific Integrated Circuit) and power monopoly problems may not have been considered at the initial stage of the design, but the design is only for the ultimate credibility, even sacrificing the original efficient transaction concurrency of the Internet for the ultimate security and credibility.
When BTC resources are used to block a lot and the cost is gradually increasing, cryptocurrency enthusiasts start to focus on finding alternatives with lower power consumption, which can be divided into two categories: alternatives with lower cost to gain revenue and alternatives with more common stackers. This is the great navigation era of ASIC mining and ASIC algorithm development. The ETH, Monero's intentions are resistance to ASIC for the purpose, they want a piece of calculation to resist ASIC chip, and maintain a low cost, make it become a not controlled by ASIC chip to dig the encryption of currency, but after the encryption currency value once it reached into the category of ASIC chip, the developer of the ASIC will still find ways to these to dig through calculation of the encryption algorithm design become a mill. LTC, another famous cryptocurrency, USES the Scrypt algorithm to counter ASIC as a technical highlight, but ASIC equipment manufacturer soon optimized his algorithm and turned it into a mining machine, forming a monopoly of equipment and computing power, which has brought huge energy consumption. The dependence on electricity and the threshold of mining make mining a minority's game.
BT is an aggregator, which can achieve lower energy consumption, facilitate the participation of miners in the self-made common components, and maintain relatively high difficulty to ensure the stability of the system. The PoC consensus used by BT is a very decentralized consensus algorithm. Compared with the era of great navigation caused by PoW, PoC will open up a new era of navigation based on hard disk capacity proof. PoC USES hard disk as the main carrier of consensus, so that more ordinary people can participate in the construction of computing power through their own computers, which can return to part of the original intention of Satoshi Nakamoto's PoW design, so that everyone can participate in the decentralized innovation road.