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You could look at Chia. I don't think the base project with the typical token scheme is worth anything, but the way it uses disk space for mining is kind of ne
by ryan29 4y ago
You could look at Chia. I don't think the base project with the typical token scheme is worth anything, but the way it uses disk space for mining is kind of neat.
The general idea is that you precompute a bunch of proofs and store them on disk. Challenges are issued and if you have a matching proof, you can claim the token for that challenge.
The part that I find interesting isn't the tokens. It's the concept that an algorithm can prove you've committed some disk space to the network. The reason I find it interesting is because, for small amounts of disk space, the incremental cost of participation is $0. If I plot proofs on unused disk space and only try to match proofs when my computer is on anyway, it basically costs me nothing.
Compare that to someone trying to farm (aka mine) on an industrial scale and they have a real, non-zero cost starting with the first byte of storage they buy. I find it interesting because it's different than normal economies of scale where a large operator eventually outperforms all the small operators (economically).
Unmatched, but valid proofs, are a byproduct of mining the tokens and those are what proves you have some idle capacity. Since normal PC owners pretty much have to buy excess capacity for something like a hard disk, participating in a system like that doesn't have much downside. It's that byproduct that I think is interesting.
I'm not sure if there are any pragmatic use cases, since the 500GB of free space a normal user has might not exceed the value of pretending to be a real person, but being able to say "I have $50 of idle capacity and I can prove it" could be a novel way to combat large scale networks of bots and bad actors.
- meesterdude 4y agochia is a terrible idea. investment wise, and also tech. Great theory, but a miss in execution. - ex chia farmer
- ikt 4y agothis comment does nothing for me, it's like saying the internet is a terrible idea and then no explanation why you think so.
- paledot 4y agoI'm still missing where this model achieves anything relatable to the real world beyond "less destructive than BitCoin", which honestly is a pretty compelling value proposition.
- kyleee 4y agopart of the reality is that it's an open question. interesting things may pan out, or may not, as with other innovation / R&D efforts
- Nursie 4y agoProving you’ve committed disk space is every bit as wasteful as PoW, it gives a financial incentive to manufacture more, pushing up the associated waste and prices for people wanting to actually use storage. It’s a horrible set of ideas.