The Inventor of BitTorrent Plans His Own CryptoCurrency

in cryptocurrency •  8 years ago 

 


“I am gonna go make a cryptocurrency company,” BitTorrent inventor Bram Cohen told Steal This Show podcast host Jamie King. “That is my plan.”Mr. Cohen plans to release a cryptocurrency to address Bitcoin’s mining inefficiency when it comes to wasting energy. “There is a loophole,” Mr. Cohen notes. “You can get them to work with proofs-of-work, but then this involves these warehouses burning electricity. But there is a loophole in that, which is proof-of-storage.” Mr. Cohen believes this problem can be solved by using the extra storage space on computers.“…Instead of computers burning electricity to mine, you have storage space that is implicitly mining because it’s sitting there, and proves it’s sitting there.” The storage space is already “sitting online not doing anything” on desktop computers and cloud offerings with extra storage capacity, according to Mr. Cohen on the podcast. 


Read more: https://cryptoinsider.com/inventor-bittorrent-plans-cryptocurrency/ ( Justin Connell )

cryptocurrency news bittorent
8 years ago by

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      ·  8 years ago 

    Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
    https://cryptoinsider.com/inventor-bittorrent-plans-cryptocurrency/

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        ·  8 years ago 

      This is totally going to be brought up again in the future. Definitely, see this becoming a reality. Thanks for the share :)

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        1 vote
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          ·  8 years ago 

        I guess the implication is that the software would make that unused disk space available for distributed file storage?

        I think it's a cool idea, but I'm a bit worried about allowing others to store and exchange arbitrary data on hardware I own. I don't want to be legally liable for whatever less-than-legal files people choose to store there.

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            ·  8 years ago 

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              ·  7 years ago 

            we already have BURST coin with proof of capacity so whats the point?
            and FileCoin is lunching as we speak, no sense to wait for this guy

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