Earlier today, Zorp published a technical essay announcing Nockchain's novel consensus mechanism.
Zero-Knowledge Proof of Work (zkPoW) introduces a new asset class, which is different from Proof of Stake (PoS) coins and traditional PoW coins.
This essay is one of the fullest descriptions of Nockchain's position in the industry to date, so you should read the whole piece, but perhaps three key ideas stand out the most:
- The market is increasingly decided that PoW assets are preferred over PoS assets.
- One of the most radical propositions of Nockchain is that the same computations used to secure the network can also power transaction processing.
- zkPoW systems may eventually rival traditional PoW systems in energy consumption but, unlike traditional PoW, this energy would be used for practical purposes rather than just providing security for the network.
If you read nothing else this week, read this.
