PROOF OF VALUE ALIENATION (PoVA) - a concept of a cryptocurrency issuance protocol
Tim Shuliar, Nikita Goldsmit
TL;DR
This paper introduces the Proof of Value Alienation (PoVA), a novel cryptocurrency issuance protocol that leverages asset utilization instead of traditional energy-intensive mining, aiming to provide an alternative to Proof-of-Work.
Contribution
The paper proposes a new cryptocurrency issuance protocol called PoVA that replaces energy-based mining with asset utilization, offering a more sustainable approach.
Findings
PoVA enables cryptocurrency creation through asset utilization.
The protocol offers an energy-efficient alternative to Proof-of-Work.
Potential for broader adoption due to sustainability benefits.
Abstract
In this paper, we will describe a concept of a cryptocurrency issuance protocol which supports digital currencies in a Proof-of-Work (< PoW >) like manner. However, the methods assume alternative utilization of assets used for cryptocurrency creation (rather than purchasing electricity necessary for < mining >).
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Taxonomy
TopicsBlockchain Technology Applications and Security · Economic theories and models