BCO - A brand new POC mining ecosystem
The advantages of Bitcoin Ore(BCO) are..
Users can employ unused hard disk capacity to mine Bitcoins without the need for expensive mining rigs and other specialized hardware.
Traditional mining hardware is energy intensive, noisy, produces a lot of heat, and is becoming increasingly specialized, moving beyond the means of ordinary people. With Bitcoin Ore, mining is simple and accessible.
Currently, the amount of energy expended globally in POW mining is greater than the total energy output of 159 countries. The development of digital currencies shouldn’t have to be built on the wasting of resources. With Bitcoin Ore, POW calculations can be completed with a minimum of computing and energy resources.
POC (Proof of Capacity) scans are only performed once every few minutes. For the rest of the time the hard disk is on stand-by with negligible power usage, greatly reducing energy costs.
POW-based mining is all about raw computing power and energy output, whereas Bitcoin Ore's POC-based mining is far more energy efficient and returns to Satoshi Nakamoto’s original ideal that mining would be decentralized and performed by ordinary people.
Proof of Capacity also does not place any demand on hard disk write speeds. Currently, mining rigs make use of solid state hard disks, which have fast write speeds but are extremely expensive. With Bitcoin Ore you can use cheaper mechanical drives, as all that matters is capacity.
Bitcoin Ore will add support for large block sizes and zero-knowledge proofs, among other features.
We hope to make the mining cheaper and less wasteful, taking mining back to a time when anybody could mine.
A low-cost, environmentally friendly POC method that takes the advantage away from expensive ASICs
Based on Proof of Capacity technology, making mining accessible to all
Returns to Satoshi Nakamoto's original ideal of decentralized mining that anyone can participate in
Support for large block sizes and zero-knowledge proofs
Fork to take place at a block height of 501949.
Bitcoin Ore Wallet will be temporarily released.
Proof of Capacity consensus mechanism to go online, shifting Bitcoin mining from POW to POC.
Zero-knowledge proofs added.
Dynamic checkpoint protection removed.
|Bitcoin Ore fork rules||1BTC：1BCO
Fork at block height 501949
Owners of BTC at the time get equivalent number of BCO
Total supply 21,000,000
|Mining method||Proof of Capacity (POC)|
|Technical parameters (TBC)||Block size: 8MB
Block generation rate: 5 minutes
Difficulty adjustment: 2 weeks
Replay attack: 2-way protection
|Volunteer benefits||After the snapshot, the temporary client will generate 16800 blocks. These will ensure circulation, and after this, the client will freeze and will not produce any further blocks. The income from these 16800 blocks goes into a fund to reward the early developers, to invest in further development, and for the upkeep of the fund. This is considered a voluntary donation from community volunteers (miners). Those who do not wish to support Bitcoin Ore in this way should refrain from mining. After this phase, the regular wallet will go online and mining will change to POC.|
Tom is the founder of Blockchain Velocity, a Crypto Currency Fund. He is also a prominent blockchain keynote speaker and has produced award winning cryptocurrency/blockchain research at Booz Allen Hamilton. Currently living in New York City, he provides market guidance to Blockchain and AI companies worldwide.
Previously worked at the NetEase Research Academy, Perfect World Entertainment (North America), UD Credit, and the Lianlianpay Digital Technology Research Academy. He has 10 years of experience in computing and cloud computing, experience in big data development, extensive work with blockchain technology including the source code of Ethereum, and in-depth experience with consensus mechanisms such as Ox Protocol and Atomic Swap.
master of computer science at Peking University school of Information Technology. His main research interests are in large-scale parallel computing and high-performance computing. QiJiang is a an ACM gold award winner.
We welcome any questions, queries or suggestions! We are committed to improving and spreading Bitcoin Ore, and we hope you can join us.
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