Driven by technologies such as 5G, AI artificial intelligence.The data economy is on the way . For data traceability, identification, verification, confirmation, collaboration and transaction needs, the blockchain will combine 5G and other technologies to build the underlying network infrastructure of the digital economy. Different from the centralized network used by most existing Internet applications, the digital economic value Internet supported by the blockchain will be a decentralized network without boundaries to meet the characteristics of the data itself and the needs of data economic activities.
Such a decentralized network is not built by one or a few server providers, but by the ordinary user – the data producer, becomes its node, completing the construction and operation of the entire data network; such a network does not require permission, the node can Arbitrarily join to meet the needs of the expansion of the data value network as the data economy expands. In other words, in the era of data economy, every user and data producer will become a node of the network at a certain point in time, carry out data economic activities on this network, and provide computing power and blockchain. Big account bookkeeping.
The blockchain is essentially a distributed decentralized big ledger. Although the blockchain allows everyone to have a book, in order to be confused, the book can only be one person. How to elect this accountant is the consensus mechanism in the blockchain. The competition for the bookkeeping right is the mining in the blockchain. When the data economy develops to a certain extent and people are widely and deeply involved, it is possible that everyone will participate more or less in the mining of different digital assets and open up the era of mining. The current mining consensus mechanisms are:
PoW: The mining consensus mechanism used by Bitcoin, the miners through the competition calculation, to win the final accountant, pure force confrontation, energy consumption is extremely high.
PoS : The consensus mechanism used by EOS, etc., must first have certain collateral to become a node; from the perspective of economics, people with more collateral have more motivation to actually book accounts to maintain the corresponding figures. The value of assets, however, this consensus mechanism has a high degree of centralization risk.
PoC: PoW requires strong hardware performance and computing power, and PoC depends on the memory size of the hard disk. The analogy of the image says that PoC is the first lottery lottery number on your hard drive, and you just have to wait for the announcement of the lottery results, then scan your entire hard drive to confirm if you have a winning number, so the hard drive Size affects the progress of mining.
PoB : PoB (Proof of Buddy) is a mining consensus mechanism that is especially suitable for parallel blockchains. In the future huge data economy, a single serial blockchain is difficult to support massive data services. It’s hard to imagine that in a big data economy transaction, every transaction takes place in the world’s only accountant. Proof of Buddy can be used to mine multiple parallel chains simultaneously and select the appropriate biller based on the connection bandwidth resources.
For users, if they want to participate in the mining of the whole people, in addition to understanding the common consensus mechanism, it is more important to understand the problems that will be encountered in the mining that specifically participate in different consensus mechanisms:
·Participation
At present, bitcoin mining is basically monopolized by mining pools with powerful computing power, and EOS super nodes are basically big gold owners. Although PoC has certain randomness in node participation, hard disk can increase mining success. The probability of this also affects the opportunity for the average user to become a network node to some extent. The network connectivity in PoB mining is the most difficult to control artificially. It depends largely on the site where the user is located and the ongoing transactions of the network. It has strong randomness and strong fairness, and increases the average user. Participate in the opportunity to mine.
·Energy consumption
After a large number of Bitcoin mining mines have migrated to Iceland, the amount of electricity consumed by bitcoin mining alone has exceeded the total electricity consumption of all islanders in daily life, which is enough to prove the serious energy consumption of Bitcoin; Reduce production, energy consumption problems will become more and more serious. Although PoC is a proof of capacity, on the basis that its cache stores a certain reusable calculation, it also needs to perform a certain amount of new calculations, and also involves energy consumption. The PoB algorithm also requires double proof of power and network connectivity, but the amount of computation is much smaller than PoW.
·safety
PoS has serious security risks because of its tendency to be centralized. The 51% attack problem of PoW has not been proven, but the related hidden dangers have not been eliminated. PoC has achieved centralization due to the limitations of the hard disk itself. Better avoidance, but the size of the hard disk itself is still a “can be” variable. In contrast, PoB network connectivity is closely related to communication hardware, network operators, and location. It is difficult for individual users to control human beings. It is difficult to find mining safety.
·Connectivity
The current mining is almost entirely concentrated on the serial single chain, and the single digital asset is also dug. The future data economy will be filled with a variety of digital assets. If users have to participate in the mining of a digital asset because of the blockchain architecture and hardware limitations, it will be a huge loss. It can be seen that mining of a variety of digital assets can be carried out, and various digital assets can be interconnected and exchanged, which is a mining mode required in the future digital economy era. At present, only the PoB consensus mechanism for parallel chains can achieve parallel mining of multiple assets and built-in cross-chain interconnection solutions, but has not yet begun large-scale implementation.
Scan and join us !
