Notices by ingoberlab (ingoberlab@gnusocial.net), page 7

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FCK
GGL
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#FuckOffGoogle

@ingoberlab [...] That architecture forces the FairCoin community to *really* know each miner owner in real life, because they need to receive the valid private keys for the mining.

Energy consumption is obviously reduced, there's no high difficulty because there's no competition, the blocks are mined fast and the prize is really low (also the fees are decided by the community and they stay lower than a cent).

The mining is just the network saying: "your turn".

Did I explain it well?

@ingoberlab [...] The cooperation is based on a Round-robin style. But this can only be done thanks to the architecture of FairCoin, where the miners are owned by well-known people in the FairCoin community (which has a lot of meatspace life).

So, the round-robin like mining has also another point to reach consensus. If 7 miners are taking part, the miner who has to mine the block needs at least 5 signatures of the others. That way nobody is going to mine more than what the network accepts[...]

@ingoberlab I think I can. Well, Bitcoin's PoW is based on a competition, miners needs to solve a problem as fast as they can. The first is the only one to take the incentive (a prize).

The algorithm is basically choose random numbers until the SHA-256 of the block they are mining is smaller than the difficulty that the network choose. That's just a computational problem -> high energy consumption.

FairCoin mines the blocks in a cooperative way... [Follows]

@r00t me empezó a llamar la atención cuando la policía española ganó un millón de seguidores en el pajarito con el CM aquel de los memes.
O el que todas las empresas usen y creen memes en las redes y la gente les de miles de rts. El circo de toda la vida, adaptado a las nuevas tecnologías

Trabajadores de Amazon consideran un éxito la huelga y tachan de “desmesurada” la actuación policial https://la.confederac.io/t/trabajadores-de-amazon-consideran-un-exito-la-huelga-y-tachan-de-desmesurada-la-actuacion-policial/11698 #Kaosenlared