On public chains such as Bitcoin or Ethereum, anyone can read and write data. Reading data is free, but it costs a certain amount to write data to the public chain. This overhead helps prevent spam and protects its security through payment. Any node on the network (each connected device containing a copy of the ledger is called a node) can participate in a method called mining to protect the network. Since mining requires computing power and electricity fees, miners need to be paid for their services. This is also the origin of miners’ fees.
However, the problems caused by miners in mining have become increasingly prominent:
Electricity bill
The “mining” of the graphics card requires a long time to fully load the graphics card, the power consumption will be quite high, and the electricity bill will be higher and higher. Many professional mines at home and abroad are located in areas where electricity costs are extremely low, such as hydropower stations, and more users can only mine at home or in ordinary mines, so electricity costs are naturally not cheap. There was even a case where someone in a certain community in Yunnan carried out crazy mining, which caused a large area of the community to trip and the transformer was burned out.
Hardware expenditure
Mining is actually a competition of performance and equipment. Some mining machines are composed of more such graphics card arrays. When dozens or even hundreds of graphics cards come together, various costs such as hardware prices are inherently high. There are considerable expenditures. In addition to graphics card-burning machines, some ASIC (application-specific integrated circuit) professional mining machines are also on the battlefield. ASICs are specially designed for hash calculations and their computing power is also quite strong, and because their power consumption is much lower than that of graphics cards, Therefore, it is easier to scale up, and electricity costs are lower. It is difficult for a single sheet to compete with these mining machines, but at the same time, the cost of such machines is also greater.
Currency security
Bitcoin withdrawal requires up to hundreds of keys, and most people will record this long string of numbers on the computer, but frequent problems such as damage to the hard disk will cause the key to be permanently lost, which also leads to The loss of Bitcoin.
System risk
System risk is very common in Bitcoin, and the most common one is fork. The fork will cause the price of the currency to fall and the mining revenue will drop sharply. However, many situations have shown that the fork will benefit the miners. The forked altcoins also need the mining power of the miners to complete the process of minting and trading. In order to win more miners, the altcoins will provide more block rewards and rewards. Handling fees to attract miners. Instead, risk has made miners.
ADS’s ring resonance proof of stake algorithm (Λ Proof of Stake, APoS) perfectly solves the problems of energy consumption, cost, and safety caused by mining. According to the APoS algorithm, the circulation of ADS is 100 million, and 931374.57 ADSs are used as “startups”. In addition to the “fuel” airdrop to the users of the former 123 ring nodes, APoS mined a total of 99,068,625.43, of which 10% will be rewarded to ADS promoters as a contribution miner fee, which we call DAO maintenance node miner fee.
DAO maintenance node miner fee
According to the ADS ring resonance algorithm, 10% is rewarded to the ecological DAO maintenance node (4% is given to the ecological maintenance (community recommends on the exchange, self-made website marketing, publicity through professional media, recommends the new currency to the exchange, introduces dapp applications, etc.), public Chain maintenance nodes, weighted and averagely distributed according to node computing power, dividends once a week; 4% to voting community nodes, community evaluation once a week, flashback rewards according to ranking, once a week, the top three communities each reward 0.3% 0.2% 0.1% , The fourth to tenth communities will be rewarded 0.05%. Voters will be given a weighted average distribution of 1.05% according to the number of votes. The new currency voting on the exchange will be given a weighted average dividend of 2% according to the number of votes of the voters; 2% will be rewarded to the promotion master, and users will be rewarded with currency holdings and flashback rankings. Reward 0.3% 0.2% 0.1% respectively, the fourth to tenth reward 0.05%, and the average distribution of 0.95% to the promoters of the website produced according to the requirements).
Contribution is strength, contribution is revenue, contribution is consensus. This is the greatest feature of ADS’s ring resonance equity proof algorithm. I hope that all ADS miners can obtain their own wealth of gold mines.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Biz Power News journalist was involved in the writing and production of this article.
