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en:proof-of-cooperation [2018/05/19 17:52] (current)
mario-liebrenz_hotmail.com created
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 +# Proof of Cooperation Algorithm (PoC)
 +On July 18th 2017 the new ‘Proof of Cooperation’ algorithm was introduced to FairCoin and with this an energy-saving blockchain which facilitates cooperation instead of competition. With the innovative PoC algorithm block creation and network security is made by ‘Collaboratively Validated Nodes‘. ​
 +The consensus rules determine which CVN has to create the next block. Each CVN approves that CVN by digitally signing a piece of data which contains its unique ID. After the respective CVN has received all the necessary signatures, it takes pending transactions and forms a new block which is then stored in the immutable and distributed blockchain database.
 +Block-creation is effortless, that‘s why CVNs can be run on a Raspberry3 which consumes only a couple of watts and does not waste energy or computing resources. Even if the network of CVNs grows, the power consumption will remain negligibly low.