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New Crypto - Proof of Space?Towards addressing these issues, we propose SpaceMint, a cryptocurrency based on proofs of space instead of proofs of work. Miners in SpaceMint dedicate disk. Proof of Capacity is a consensus mechanism that uses a mining node's hard drive space to decide the mining rights on the blockchain network. The idea isn't new. Asteroid mining companies have tried for decades to harvest metals while attracting heaps of cash from big-name investors.
