Proof of Capacity Explained: The Eco-Friendly Mining Algorithm
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However, there is a third mining algorithm that many people may not have heard of: Proof-of-Capacity.
Indeed, it is not entirely unreasonable to assume this. Proof-of-Capacity is a really new mining algorithm that is currently only being used by one Cryptocurrency called Burstcoin.
Despite this though, there are many who think that proof of capacity is a viable alternative to the currently established methods of mining. So what is Proof-of-Capacity and why is it viewed as such a great mining solution?
Before we go over the technicalities of PoC, it helps to take a look at how the popular mining algorithms currently work.