DePINC is positioning itself as a leading DePIN Protocol Hub, integrating verified algorithms for data storage and computing to provide users with efficient, secure, and adaptable decentralized infrastructure solutions all in one place.
Specifically, DePINC begins by integrating the most commonly used storage protocols and gradually expands as technology advances into more protocols covering computing and data processing. Through this approach, DePINC is committed to creating a multi-layered, multifunctional decentralized ecosystem that comprehensively supports decentralized services for users.
The project’s native token, DEPC, is a unique cryptocurrency based on the Conditional Proof of Space-Time(CPoST) consensus mechanism. By involving hard drives as consensus participants, DePINC offers significant reductions in energy consumption and entry barriers, making the cryptocurrency more secure, decentralized, and accessible to everyone.
Compared to Bitcoin, which uses the Proof of Work (PoW) consensus mechanism to establish a secure peer-to-peer system, DePINC addresses the issue of high energy consumption and monopolization of electricity resources. While PoW is reliable and straightforward, it overlooks concerns about resource consumption and future energy monopolies. As Bitcoin’s resource consumption accumulated significantly each year, more environmentally friendly consensus protocols have emerged. One such consensus protocol is Proof of Space-Time (PoST), which ensures security like PoW but with substantially lower energy consumption. DePINC has adopted this excellent consensus mechanism, which offers similar security while consuming considerably less energy to solve Bitcoin’s high energy consumption issues, ensuring network security, system stability, and reduction in electricity resource consumption.
Nowadays, the crypto industry faces four major challenges: monopolization, centralization of computing power, high energy consumption, and issues with the existing PoW mechanism. DePINC has been developed to address these challenges and excels in the following areas:
- Monopolization: DePINC uses hard drives for mining to make it more accessible and prevent resource concentration in the hands of a few miners.
- Centralization of Computing Power: DePINC adapts the PoST mechanism to reduce reliance on computational power, leading to increased network participation for home miners and greater decentralization.
- High Energy Consumption: DePINC’s CPoST consensus mechanism offers lower energy consumption than PoW, promoting environmental sustainability.
- Issues with Existing PoW Mechanism: DePINC integrates the PoST consensus mechanism to enhance system security and stability, taking steps to handle existing PoW issues.
DePINC firmly believes its low power consumption can provide sufficient trust in algorithms. Combined with its integration of multiple efficient protocols, this will pave the way for mass adoption and a better experience in the future.
DePINC’s Consensus Algorithm and Consensus Mechanism
The DePINC base consensus protocol relies on the CPoST algorithm to uphold network security, where the operations involve scanning plots to check for Proof of Space and executing sequential computing via Verifiable Delay Function to verify the Proof of Time. These two proofs are tightly correlated to maximize network security. Rooting from this robust and open architecture, DePINC designs to support other similar algorithms to enhance miners’ earnings and fortify the network’s security through the implementation of multiple algorithms in the future.
Details of DePINC Algorithm
Block Reward: The current block reward is 66.7 DEPC per block.
The staking mechanism has been improved by providing different staking plans. A miner has options to select different lengths of lock periods for every new pledge, which determines the corresponding Pledge Ratio.
Pledge Ratios are shown in the following table:
For example, when the current netspace of the entire network reaches 100 PiB, this individual miner’s individual netspace contributes 1 PiB, assuming the token in circulation is 20,000,000 DEPC. Below are calculations demonstrating the amount of pledged DEPC that A Fully Pledged miner who is eligible for 100% block rewards would need to pledge for the mentioned four lock periods (1 week, 1 year, 2 years, and 3 years):
Current Deposit (1 week) plan DEPC pledged = 1/100 *20,000,000*(1/8%) = 2,500,000
1-year plan DEPC pledged = 1/100 *20,000,000*(1/20%) = 1,000,000
2-year plan DEPC pledged = 1/100 *20,000,000*(1/50%) = 400,000
3-year plan DEPC pledged = 1/100 *20,000,000*(1/100%) = 200,000
Non-Full Pledge Situation
If a miner fails to meet the Full Pledged amount requirement, they will be considered a Non-Full Pledged Miner. Non-full pledged miners can receive 10% of the block rewards, while the remaining 90% will be locked on the chain.
Miners can use a simple command to inquire about the total amount needed for a Full Pledge.
The miner can place multiple pledges to an address. The blockchain calculates and assesses whether this address’s total staked value qualifies as a Full Pledge.
Please note that the number of DEPC positions changes dynamically based on the current netspace and distributed amount. Miners should adjust their lock strategies according to the actual situation to maximize mining rewards.
DePINC’s Distribution and Mining Mechanism
Technical Features of DePINC
- CPoST Consensus Mechanism
- Short block time, faster transaction speed
- 8MB block size for improved network efficiency
- Introduction of Zero-Knowledge proofs after network capacity reaches 3000 PiB, utilizing hard drive mining, resistant to ASICs, allowing mining with general-purpose devices.
- Sustainable, low-energy, low-noise
DePINC Roadmap and Timeline
By 2023, DePINC has successfully achieved compatibility with Chia’s mining documents.
By 2025, DePINC is committed to developing a flexible, scalable, and integrated decentralized protocol ecosystem to proactively address future challenges and opportunities through consensus integration.
- To maintain the ecosystem’s cutting-edge adaptability, it is vital to continuously adjust protocols by inventing or removing them based on emerging development approaches and market demand
- Furthermore, introducing an expansionary economic mechanism will help the ecosystem grow, attract more users and developers, and promote widespread adoption, which is essential for the protocol’s healthy development.
- Additionally, integrating multifunctional storage and computing protocols into the DePINC protocol Hub provides one-stop decentralized infrastructure solutions, which is crucial for the advancement of the ecosystem.
DePINC is committed to becoming a comprehensive DePIN protocol Hub that supports Processing In Memory architecture.
