What is the POC consensus mechanism of ODIN (Is the POC consensus mechanism a pyramid scheme)?
What is the POC consensus mechanism of ODIN? According to official sources, what
What is the POC consensus mechanism of ODIN? According to official sources, what is the POC consensus mechanism of ODIN? Based on community voting, during the mining period, one token reward can be allocated to users per block. Based on the current market value, this airdrop is already worth over 40,000 RMB (approximately 500 million USD).
The project adopts the POC algorithm, where one forked coin is produced every 10 minutes. At the same time, a portion of all distributed forked coins will be destroyed, making the entire ecosystem more prosperous. This rule will allow early participants to gain more dividend space. Therefore, technically speaking, this is a relatively reasonable incentive method.
Is the POC consensus mechanism a pyramid scheme?
According to Coindesk’s report, behind the POC consensus mechanism, there is a pyramid scheme that attempts to increase its value by tokenizing it. At the 2018 China Blockchain Technology Conference held on September 16, 2017, Li Qiyuan, the head of “Bitcoin Pool,” stated, “POC is a very effective incentive system that allows more participants to join and receive more rewards.” Many people perceive this statement as a means of pyramid scheme, and some even believe that such behavior falls within the category of pyramid organizations.
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