Former Co-Founder and CTO of TRON network & Chinese FileCoin project Lambda core team built Volume Network together, dedicated to build a large-scale cryptocurrency applied in real commercial society.
Volume Network is a cryptocurrency and blockchain protocol developed to deliver large-scale crypto commercial transactions for the sole purpose of increasing crypto adoption within the mainstream economy. VOL is a more environmentally friendly, energy saving, and highly secure cryptocurrency based on the concept of Proof-of-Time-and-Space (PoST). VOL’s low entry barrier feature makes it a cryptocurrency suitable for a large scale commercial usage and application.
Unlike the PoW and PoS consensus protocol, which requires expensive and dedicated ASIC rig or GPU hardware, VOL mining can be achieved with just a laptop and a USB Hard Disk. As long as one has a PC and free terabytes of disk space, it is possible basically mine several VOLs every day. Due to the very common redundancy in storage space, as well as the cheap hardware and less intense competition, more people can participate in PoST mining, which means the Volume Network will be more disperse and decentralized. With hard disk mining the entry barrier to crypto mining is lower, and hence fulfill the vision of every family having mining machine and participating in crypto mining.
Another core advantage of mining VOL is its energy saving and environmentally friendly feature. Computer hard disk require very low energy consumption to power up for mining. While it is almost unbearable mining PoW cryptocurrencies because of its high power consumption and noise pollution level, Volume Network’s unique PoST algorithm promote a very low noise level while mining. The estimated average power consumption of mining VOL with 5TB hard disk is less than 7W. However, to mine Bitcoin with the ASIC miner, one will spend an average of 1,350 –2,000W of energy, while Volume Network will only maintain 70–90W to mine VOL. VOL mining energy consumption is only 1/20 of the power consumption of bitcoin ASIC miner.
The Proof of Time and Proof of Space consensus algorithm makes block generation to be secure and resistant to hacking. Every forged block utilize the Proof of Space at the start point, and the Proof of Time as the endpoint, thereby making sure that every block is indeed a real block. This system of block forging helps to ensure an accurate and timely transaction finality is achieved. In addition, the PoST algorithm ensures that the weight of each block are equal, thereby making sure that no attacker will be able to rewrite the whole chain from a solitary block.
- Green technology
harddisk mining is energy saving and environmental friendly
- Covenant lite
based on the PoST consensus mechanism, everyone can start mining with a PC at home
- Community driven
Volume Network adopts a complete community-driven approach to run the project. Meanwhile, 6% of the block reward will be used for ecosystem promotion.
- Famous team
Former Co-Founder and CTO of TRON.network.and Chinese FileCoin project-Lambda core team built Volume Network together.
Prove of Space and Time (PoST) consensus mechanism
PoST add time parameter to the original prove of space mechanism. Miners must do some calculation with Verifiable Delay Functions(VDF). And combine the verified calculation result and candidate block these two factors to choose the final block producer. Therefore, PoST alleviate the PoC mechanism's loopholes, such as selfish dig, rewrite attack and other security problems.