#PAXCOIN #blockchain #currency #miningBlockchainstory Co., Ltd and the PAX Foundation
Konstantin Nesterov
3D artist || 3D Props || gamedev I am a middle 3d artist, I create environments, props, weapons in different styles, Work in Unity, Blender, Substance Painter, Adobe Photoshop, Marmoset Tulbag.
#PAXCOIN #blockchain #currency #miningBlockchainstory Co., Ltd and the PAX Foundation
Algorithm for private miner
Most coins, including Bitcoin, are a structure that can only
be dominated by a small number of big sized (enterprise)
miners.
Because Bitcoin has adopted the SHA-256 encryption algorithm, which can be mined
with expensive ASIC-based mining equipment, it is impossible to participate in some of
the common and a good many miners' personal computers through computing power
contribution.
There is no solution for a malicious difficulty bomb that could paralyze the
Blockchain Network and cause chaos, which could cause it to stop for up to 180
days, only some miners who have high-performance equipment are going to be
mined. In the case of the late Altcoin, when someone begins to mining with
high-performance mining equipment, not only a certain few will monopolize the
mining rewards, but the blocks that need to be piled up for normal transaction
are mined at a very high speed, garbage blocks are created that accumulate
only empty blocks without data.
In order to implement a stable and fair Blockchain Network, we
focused on building a personal-friendly system.
it was developed to be able to be mined by CPU of the general computer as well as
GPU, and it adopts Scrypt encryption algorithm and cannot be mined with
ASIC mounted equipment. PAXCoin has developed an algorithm that can disable
malicious difficulty bombs and maintain a stable blockchain by greatly reducing
difficulty when it exceeds three times the basic Block Time (180 seconds). If it
find a block within 1/3 times (20 seconds) of the basic block time, it can greatly
increase the difficulty and eliminate the situation where only high-performance
mining equipment can be mined. This is an eco-friendly algorithm that prevents
unnecessary power wastage and the waste of resources due to garbage block
because there is a preventive effect by eliminating the income earned by large
miners.