What Is Proof of Capacity (PoC) for Cryptocurrencies?

Business & Management
#1

Proof of capacity (PoC) is a consensus mechanism method used in blockchains that allows mining devices in the network to select mining privileges and validate transactions using their available hard drive space. This differs from utilizing the computing power of the mining equipment (as in the proof of work method) or the miner’s stake in the cryptocurrency (as in the proof of stake algorithm).