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IPG – The Great Voyage Era To Enter The Poc Consensus

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IPG – The Great Voyage Era To Enter The Poc Consensus

August 19
19:55 2019

In the development history of virtual currency, the blockchain solves the problem of transmitting trusted information and value transfer on untrusted channels, and the consensus mechanism solves the problem of how the blockchain achieves consistency under distributed scenarios. At present, the mainstream consensus mechanism of blockchain is pow, pos, and poc.

When we mention pow, we will think of btc.With the rise of the currency price, btc has gradually become a game of mine tyrants. A few people have most of the computing power, and btc gradually deviates from the concept of decentralization and is more and more centralized. In traditional pow, computing power is everything. Equipment monopoly, centralized power, energy consumption, and the centralization of pow have caused the industry to face bottlenecks.

IPG- The Great Voyage Era To Enter The Poc Consensus

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The computing power represented by pow is no longer suitable for ordinary people to participate.Based on the poc consensus of hard disk mining, the mining method as a low threshold came into being. The poc consensus uses the hard disk space of the computer instead of the computing power of the computer, so the hard disk space is the fundamental factor of the mining revenue. This advantage makes the poc currency rise rapidly.However, the poc mechanism has always had a common problem – the incentive mechanism is insufficient.

Has anyone considered using a hard disk as a carrier of the currency consensus system? The answer is yes.Burst, born in 2014, is the first POC consensus system currency. Burst quickly promoted the POC consensus algorithm and had a lot of supporters, but at the same time exposed some of the original POC consensus algorithms.At the beginning of the design, POC did not have proper incentives. Most of the money was mined by miners who joined earlier at a very low cost. With the promotion of the team, the participants who entered Burst later lacked sufficient monetary returns. Greatly reduced the enthusiasm of the participants.

It is reported that in 2018, the IPG team started to deepen the research and development of the POC model, and optimized and upgraded the POC model. The IPG summarized Burst’s failure lessons and passed a series of changes in the technical part. Finally solve a series of problems in the incentive layer. Based on the POC consensus algorithm, IPG ensures the healthy development of the entire cryptocurrency by designing a long-term incentive economic model. After optimizing the POC, it is upgraded to the CPOC (Conditioned-Proof of Capacity) consensus.

At the same time, ipg uses a dual incentive approach when designing incentives, which can be mined in a conditional or unconditional manner to regulate operating team costs and miners’ benefits.That is, when the miners get out of their conditions, the miners can get all the benefits.

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