BitcoinHD (Bitcoin, referred to as BHD) is a new cryptocurrency based on Conditioned Proof Of Capacity (abbreviated: CPOC). Its main feature is the use of hard disks as consensus participants, reducing the consumption of power resources by cryptocurrencies, lowering the threshold for participation, making its production methods more decentralized, and more secure and credible, so that everyone can participate The mining of cryptocurrency generates credit and value through mathematical algorithms and distributed mining.

1. Principle of BHD technology: CPOC

BHD is the income from POC mining. What is POC mining? To put it simply, it is to calculate and store the solution to the shabal hash function problem in your hard disk before starting mining, and put the "answer" in the hard disk in advance. This process is called "drawing". Draw uses a very slow hash called Shabal, which is different from the SHA-256 hash, which is used quickly by Bitcoin miners. Since Shabal hashes are hard to compute, we precompute them and store them on hard disk.
Miner mining generally involves the following process:

1. P disk (Plot)

Miner (miner) plots the file on the local hard disk and fills the hard disk with the hash value. The larger the capacity of the hard disk, the more Hash values ​​will be filled, and the higher the probability of block explosion. In simple terms, the larger your capacity, the higher your income will be.
Technical principle: Miners create something called a nonce, which creates random numbers by repeatedly hashing data (including your account ID). The more hard drive space you allocate for drawing, the more nonces you can store. A nonce will end up with 8192 hashes. These 8192 hashes are organized in pairs called scoops. Each scoop is assigned a number from 0 to 4095.
The drawing time will depend on the capacity of your hard disk. Generally, the drawing time required for a 1T hard disk is more than 10 hours.

2. Transfer

BHD has reconstructed a secure P2P network based on the BTC wallet. Miners transfer money between wallets. The security and stability of the BTC wallet has been relatively perfect after years of verification, which makes the BHD wallet guaranteed.

3. Forging

Miner listens to the P2P network through the wallet, and whenever it receives a block, it starts the packaging process of the next block. The wallet organizes a Block and sends the hash value of the block to the Miner, and the Miner looks for the best matching Nonce. After the wallet receives the Nonce, it converts the Nonce to Deadline (time), and then waits until the end of the time before broadcasting the block.
During the mining process, miners need to calculate a scoop number between 0 and 4095. Suppose your calculation gives you a scoop number of 42, then you go to mine a nonce1 of 42 and use that scoop data to calculate an amount of time, this time is called deadline. You repeat this process for all nonces on your hard drive, after calculating all the deadlines, you choose the minimum deadline, the deadline means "the number of seconds elapsed since the last block was created before allowing blocks to be created", if nothing else People create a block within this period, and you will get a block reward when you create a block, because the deadline you can produce is shorter than the deadline of other miners, and you are faster than other miners, so you will get award.
For example, when digging, your minimum deadline is 25 seconds. If no one else can mint a block within the next 25 seconds, you will have the chance to mint the block and get rewarded.

4. Verify

After the miners receive the Block, they verify it and get rewards.

2. The economic model of BHD

BHD's consensus algorithm has been upgraded on the basis of POC, which is called: CPOC (Conditioned-Proof of Capacity), that is, "conditional proof of capacity", that is, conditional proof of capacity.
In the first month of mining, miners are completely free of conditions; from the second month, miners implement conditional mining. If miners do not meet the conditions for mining, they can only get 30% of the income, 70% The coins will be included in the foundation for system development, marketing and operation; if the miners meet the conditions for mining, they will get 95% of the income, and 5% will be included in the foundation for marketing.