Bitcoin Forum

Greetings,

I'm looking for people who would be interested in developing an energy efficient, yet proof-of-work based cryptocurrency. Heartbeat is what I'm calling it for now.

My idea is that we will create a PoW validated blockchain that only allows mining during an approximately 3 second window, once every 10 minutes.

Mining would be initiated via network consensus. At the end of a 10 minute rest period, nodes would collectively produce a public key that would be required in order to produce the next valid block. Difficulty would be retargeted to give each heartbeat a duration of approximately 3 seconds.


I may only be able to allocate 2 hours a week towards development of this project, so if I were to go at it alone I imagine it could take me quite a while to complete. So it would be great if you could help.

Feel free to implement this idea on your own whether or not you intend to contact me.

Or is there already a cryptocurrency (not Burstcoin or any PoC/PoS coin) that accomplishes this?

Thank you for your time,

heartbeat_pow

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It's interesting you should mention Burstcoin (the reason why I stumbled across your writeup in the 1st place) as "not quite what you have in mind".

Yet Burstcoin does pretty much what you try to achieve. The common pot you threw PoC and PoS in ("PoC/PoS") also shows little understanding what PoC actually is.

If anything, PoC can be more compared to PoW than to PoS. You could think of it as "condensed PoW" - where you do the PoW once (an act called "plotting") and then use Space to just look up your work.

On average every 4 minutes for ~ 30 seconds. Pretty much of a heart beat.

As for energy efficiency, Burstcoin is currently about 400 000 times  (more give than take) more energy efficient than Bitcoin.

Nevertheless, feel free reinventing the toroid at 2h/week pace.

Hi there black swan,

Thanks for responding. My understanding is that PoC distributes a currency supply according to disk capacity, but my thought was that if a share of the currency production that is currently backed by ASICs and/or GPUs could be displaced by an algorithm that does not require constant activity, that the total energy footprint of PoW backed Cryptocurrency could be reduced. Basically a heartbeat POW coin with the same inflation curve as a comparable non-heartbeat coin would (with sufficient market exposure) be more profitable to mine due to lower electricity costs. Miners could of course switch to non-heartbeat coins during the off beat, but the additional reward for doing so would be less than the primary reward of mining the heartbeat coin (due to electricity costs). A smaller market share for non-heartbeat based coins would reduce the incentive for mining them.

I expect PoC will continue to exist in it's own space, but this idea is intended specifically as an improvement to the efficiency of the PoW space.

Please feel free to correct any holes in my logic.


Thank you for your time,

with the ever increasing popularity of the blockchain as well as the crypto currency market. Different types of coins are coming to the market. Especially there is the demand of energy token now. People are concerned about the green energy. This token is like that and hopes it will do well in the future.