What is PacketCrypt?¶
PacketCrypt is the world’s first bandwidth-hard proof of work. It is the software that miners install to mine PKT Cash and which constructs the unique foundation of the PKT Blockchain.
The PacketCrypt protocol is designed to reward miners in PKT Cash for transmitting data around the world. This incentivizes and requires high CPU encryption plus maximum bandwidth throughput to optimize yields. Miners are required to become hyper aware of and motivated to increase their bandwidth upload and download throughput to efficiently communicate with nodes across the network. PKT mining favors increased bandwidth over CPU power, rewarding people that connect high speed bandwidth infrastructure to the network.
PacketCrypt utilizes 2 distinct stages: announcement mining and block mining. Any internet connected device can become an announcement miner and mine PKT Cash by installing and running the PacketCrypt software. Announcement miners running PacketCrypt upload small, difficult to compress (1KB) messages called announcements to block miners.
Block miners, otherwise known as PKT mining pools, must maximize the number of announcements they collect for each block. To accomplish this, PKT mining pools can get a discount on the difficulty of the work they must do by coordinating with community announcement miners and fairly paying announcement miners in PKT Cash to continuously supply them with fresh announcements. Optimal mining results are achieved through this cooperation between miners.
The result is a fully decentralized network topography that is powered by the people. These various announcement miners and PKT mining pools represent the core infrastructure of the PKT Network, along with its integrated VPN and wifi sharing capabilities.
To learn more about PacketCrypt check out the introduction to PKT Mining [here].