I love the article because it states all the reasons why I am supporting this coin as much as I can:
"Even ignoring questions of waste, power-intensive mining has inarguably also led to geographic concentrations of the industry. Because miners receive the greatest returns where energy is cheaper, areas like Iceland, western China and Washington State have become the dominant epicenters."
You can buy HDDs and USB sticks everywhere in every town in the world.
"The search for a system that would encourage the opposite of these qualities – generic equipment, non-wasteful work and low power consumption."
"Under a proof-of-space system, miners allocate a certain amount of their unused disk space to the network, with the probability of successfully mining a block being proportional to the amount of space allocated divided by the total capacity of the network."
"To briefly summarize, miners add new transactions into a block by combining them with values from a lookup of data stored in a space they have allocated for mining."
"One notable consequence of using storage as a proof, is that it could democratize the mining process."
"Another upshot of proof of space is that there is no incentive for any actors to try and gain mining share by spending large sums on storage space up front."
This is 100% Burstcoin.
"This creates an inherent attack where someone with a large amount of resources can re-mine since genesis – go back to the beginning and make a whole new chain, giving themselves all the rewards."
"In order to prevent this, Cohen's idea is to use proof of time in combination with proof of space, specifically, proofs derived from a dedicated time server on which some time will elapse in between each period of mining."
Here he disqualifies himself imo or I don't get the point. You can't go back to genesis with a lot of space and mine everything to be up to date to the other chain. Burstcoin has a 4 minute block time and uses every miner as a time server. This is exactly what Burst is doing - so we are also Proof of time. lol.
@Lexicon Instead him coming here to improve the algo, he wants his own more complex solution with his name tag on it and maybe a nice bag of coins as an early adopter.
Burstcoin seems to stay the underdog coin for the crypto people for some more time. (Gpu)Miners don't want it, ASIC industry doesn't want it and some famous people in crypto space dismiss it without even scratching the surface.
Proof of Underdog.