What is Massnet?
Massnet is a basic infrastructure layer that is capable of providing consensus services across any number of public chains. In order to create a sustainable and strong Layer 0, the MASS consensus engine uses Proof-of-Capacity consensus protocol. Proof-of-Capacity establishes a consensus layer that is permissionless, fair, energy-efficient, secure, and universal — ensuring the fundamental security of the public chain. Participants just need to have access to storage space (such as hard drive space on a basic laptop.) MASS is a hard drive mining project without fund raising in any form, no premine, no founder rewards.
They believe that blockchain is a technology possessing great social value. able to coordinate human actions through the means of a consensus mechanism, thereby performing important tasks such as maintaining a public ledger. Ultimately, blockchain will facilitate a vision of an internet of value without intermediaries. The consensus mechanism is the ultimate guarantee of the security and credibility of a blockchain. It requires that users are able to join the network and help maintain it without the need for permission, and all participants are able to get a fair share of the value created.
The Massnet Coin consensus engine aims to become the basic infrastructure to all blockchain consensus layers. Based on a Proof-of-Capacity consensus protocol, the MASS consensus engine creates a consensus layer that is permissionless, fair, energy efficiency, secure, and universal, ensuring the fundamental security of the public chain.
The MASS consensus engine is universal and is capable of providing consensus services across any number of public chains. Nodes use storage capacity to run the consensus protocol and do not require permission. The MASS consensus engine is fair and energy efficient; only a very small amount of computing resources are required, meaning everyone has the chance to participate.
Massnet Storage Key Points
|Circulating Supply||98,026,147.05 MASS|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Blockchain Consensus Engine
Massnet anyone can join without requiring permission. The network is permissionless. The level of security is similar to the Nakamoto consensus protocol. The network tends more towards decentralissation compared to bitcoin. Competing for blocks does not require the use of computing resources.
Resistance to ASIC technology centralisation and energy monopolies. The MASS PoC consensus protocol guarantees that a node’s block generation probability is dependant only on the proof of effective capacity provided by the node.
Massnet Coin extremely low computing and energy consumption. MASS PoC protocol for block consensus does not require continuous power inputconsumption. When the MASS system performs block consensus, the computing resources used are tinynegligible, small enough to not affect the normal usage of a computer.
The support multiple blockchain instances in parallel. During the consensus process, the node only needs to perform an access query on the initialised capacity and does not perform any data operations on it. Therefore, the same storage space can provide capacity proofs for multiple blockchain consensus instances
Massnet level of security is similar to the Nakamoto consensus protocol. Using the theory of Time-memory trade-off, the PoC protocol ensures the unforgeability of proofs, and together with the use of a verifiable random function ensures that the MASS system has 51% Byzantine Fault Tolerance.
Advantages MASS Bring
Since its creation, bitcoin’s disruptive decentralised, redundant, immutable, and permissionless and revolutionary nature has attracted people in droves to the bitcoin community. These community members have worked tirelessly in the maintenance of bitcoin networks and in the promotion and development of bitcoin technology generally. However, the Nakamoto consensus’ great thirst for computing power has led to resources becoming concentrated in the hands of just a few.
Proof Of Capacity Consensus Algorithm
Massnet Coin Proof-of-Capacity (PoC) is a consensus mechanism based on providing a proof of storage space. In a PoC consensus algorithm, when a node submits a block to the network it must also provide a valid proof of capacity. It is very difficult for a node to generate a valid capacity proof without having the corresponding storage size, and the proof can be verified by any node in the network. If both the block data and the proof are valid, the block will be accepted by the rest of the network. The basic principle behind how a proof is provided is as follows: during the initialisation phase, a series of data is generated according to the protocol and is saved in the storage devicecapacity.