Proof of Archival Storage: ââŚeach farmer stores as many provably unique segments of the chain history as their disk space allows. The more pieces of the history a farmer stores, the more likely they are to be elected to produce a new block.â
Bitcoin consensus was found first via proof of work (PoW) = one CPU, one vote, or so the intention seemed to be. As we know, this didnât last. Now, BTC mining is decreasingly profitable and relegated to massive operations near cheap electricity. Furthermore, environmental concerns over the energy expenditure of PoW chains (BTC, ETH as of time of writing) are now becoming politically prevalent.