POW Consensus

PoW (Proof-of-Work) is the most famous consensus mechanism and the underpinning technology behind Bitcoin mining and block validation. However, PoW has been criticized for being too resource-heavy and far from efficient enough to see widespread adoption. As a result, many different consensus mechanisms have emerged over the last decade, each of which attempts to reach the same goal as PoW but in a better or a completely different way We have provided a short comparison between some of the current most prominent blockchain consensus. Albeit not exhaustive, the list focuses on the most famous coins like Bitcoin, Ethereum, and Co and their consensus mechanisms. Keep in mind that there are also fΓΌrther combinations (also known as "hybrid") - for example, DASH is a combination between PoW (Proof of Work) and PoSe (Proof of Service). We will not go into too much detail about what each consensus does instead, we have created a comparison table, which should serve as a guideline for the advantages and the disadvantages of most consensus mechanisms Despite the common belief that PoW holds no ground compared to PoS, for example, each of these has their own advantages and disadvantages. With our project, we are attempting to address the main pain points of PoW, which would put it in a better position, compared to its competitors. While the table above is highly simplified, it shows several important aspects that raise the discussion of whether the PoW consensus is really inferior to its successors. s. Indeed, in terms of energy consumption and mining difficulty/accessibility, PoW does not rank well - however, at arguably the most important factor - security - Proof of Work is still unmatched. PoS networks are more easily susceptible to uneven distribution, monopolies, and other game theorist concerns, which can potentially hurt the network integrity EnviDa implements the traditional PoW in the context of environmental efficiency. We will use a power saving algorithm which is provenly among the most energy-efficient algorithms for mining. The DriveMiner series is focusing on providing steady output without consuming too much energy. The DriveMiner is intended to be installed in electric vehicles and to have a minimal amount of energy consumption. Also, only DriveMiner with attached environmental data sensors will be allowed to mine the EnviDa-Token. This will prevent any kind of big mining farms, which increase the mining difficulty and thus the energy costs.

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