WOWNero Proof of Work Proposal

I have a BIG proposal, which if succeeds, will get an exponential improvement to WOWNero and maybe to Monero too.

Introduction:

Lately there’s a new crypto named Chia with a very interesting Proof of Work named Proof of Space and Time. This proof of work has a lot of interesting advantages, I suggest you read about it.

But the main thing is that Chia is working on opening this Proof of Space and Time to any block chain by allowing Farmers (miners) to farm (mine) at the same time any block chain with this Proof of Space and Time without using any extra resources or energy.

Proposal:

I propose that we need to move the WOWNero Proof of Work to the Proof of Space and Time thanks to 2 main and large improvements:

  1. A very low to zero energy consumption for our network, because Chia is already using the Farmers (Miners) with or without us, we are just using the farmers too.
  2. Exponential better decentralisation because the network is much larger than WOWNero and the Farmers will have a lot more incentive to farm because they will farm every block chain with the Proof of Space and Time.

And I suggest getting some help from the Monero community by letting them know the advantages and let WOWNero be like a Testnet for Monero in exchange for helping us move over the Proof of Space and Time.

Conclusion:

WOWNero will become the first and the best Truly Green Privacy Coin.

More Information:

Chia did not finish this yet. It will be done together with the pool protocol hopefully by the end of the month.

The pool protocol is very interesting. I need to look it up more but I think they solved the problems with pools. (Not sure, plz check yourself)

And I would really like to hear your opinions in the comments, especially the negatives ones, because we always need to look on both sides of the fence.

And If possible share the idea to others in the community.
Reddit:https://www.reddit.com/r/Wownero/comments/o5kbkt/wownero_proof_of_work_proposal/

1 Like

The problem with the proposal is as follows

  1. If there is no energy cost to mining then there’s no reason or opportunity cost to mining an endless number of different coins completely negating the scarcity and the thermodynamic foundations of a crypto’s value if you want it to succeed anything like Bitcoin.

  2. Decentralization of storage is not the same as decentralization of energy and if no energy is used the cost comes down to who has more storage hardware. Simply making a bunch of useless storage centers to mine countless endless Chia coins is a much bigger waste than empowering people to mine with their existing hardware to mine with energy which actually incentivizes home miners to not only increase their computing power for the things they need it for other than mining but it incentivizes individual miners to adopt green energy alternatives and renewables to make their homes and home miners more efficient.

The analogy I would use is its like suggesting collecting abundant surface rocks to avoid the energy cost of mining for gold when its the fact that gold isnt abundant at the surface that makes it rare and valuable.

The economics of replacing energy with storage capacity simply will not have the same impact at an economic level for reasons routed in thermodynamics and information theory. You cant just create endless coins at zero cost and use selling those to heat your house and power your toaster without taking that energy from somewhere most likely from investors who don’t understand what they are trading and most importantly will end up losing in a zero sum game. So these Chianomics will either break the laws of conservation of energy and physics or collapse as an economic system down the road, the latter being most likely.

4 Likes

A few other issues are:

  1. Chia completely destroys consumer-grade SSDs, whereas randomX can run on properly configured consumer CPUs indefinitely with no degradation.

  2. I’m pretty certain storage capacity is much more centralized than is CPU availability, economy of scale with datacenters and all.

  3. Aside from the memes, Wownero gets a lot of its value acting as a testnet for Monero. Moving away from randomX would break this.

5 Likes

No no and no.

This is shit. Also remember that you can “farm” multiple coins of this algo.
You can mine chia, and all the other proof of space coins at the same time, without any conflicts on other coins. Wownero would just be another shitspace coin. There is only space for 1 of this coins, and its probably gonna be chia forever.