Author: Patti, ChainCatcher
Editor: TB, ChainCatcher
On the 19th of this month, the blockchain project Nockchain, based on zkVM POW, is set to launch Dumbnet, with the first mining about to begin, and miners are eagerly preparing.
Why is Nockchain Exploding in the Mining Community?
Nockchain is a lightweight zero-knowledge proof (ZK) Layer 1 (L1) blockchain developed by ZorpZK. Previously, Zorp completed a $5 million seed round financing led by Delphi Ventures, with core team members Sam Parker and Shelby Evans.
Based on Nock's simple architecture, Zorp has created a combinator-based virtual machine compatible with zero-knowledge proofs. As a blockchain based on "proof-of-useful-work," Nockchain utilizes a zero-knowledge virtual machine (ZKVM) to achieve high throughput capabilities through computation, storage, and a new namespace proof. Its core mechanism is zero-knowledge proof of work (zkPoW), where miners earn $NOCK token rewards by solving zero-knowledge proof (ZKP) puzzles.
In March of this year, the U.S. Securities and Exchange Commission (SEC) released regulatory guidance on proof-of-work (PoW) mining activities, concluding for the first time that "PoW mining activities do not constitute a securities offering." This means that PoW mining activities are exempt from federal securities law regulation, and mining participants do not need to register with the SEC. This favorable policy has created a good environment for the development of PoW projects, ushering in a regulatory spring for miners. As one of the few POW projects this year, Nockchain's first mining is naturally attracting attention.
Nockchain's ability to gain attention is primarily due to its core technology and distribution mechanism, which claims to be "fair, transparent, and verifiable."
Technical Features
According to official information, Nockchain adopts a zero-knowledge proof of work (zkPoW) fusion mechanism, combining zero-knowledge proofs (ZKP) and proof of work (PoW). Unlike traditional PoW, which proves computing power through hash calculations, miners in Nockchain must solve ZKP puzzles to prove their computing power. Additionally, to address the centralization issue of mining chips, Nockchain employs a progressive hardware compatibility strategy. In the early stages of the project, CPU mining will be supported, with a gradual transition to GPU and ASIC mining in the future.
Furthermore, Nockchain's architecture design integrates the need for high throughput and verifiability, capable of handling heavy computational tasks while providing proofs of computation, storage, and namespace, allowing for real-time verification of transaction data to reduce fraud risk.
Token Mechanism
100% Mining Output: According to official statements, the $NOCK token of Nockchain is 100% generated through zkPoW mining, with no pre-mining, no VC shares, and no team lock-up. Additionally, the project team will not control the token distribution rights.
Fair Launch of the Genesis Block: The project team stated that to maintain the decentralized nature of the network, the genesis block will not issue coinbase rewards but will embed specific Bitcoin block heights and secret information, ensuring a fair launch through the zkPoW mechanism.
Community-Driven Economic Model: According to official documents, Nockchain's economic model is entirely community-driven, with miners providing computing power to earn token rewards, and token holders able to participate in network governance through staking.
Mining Mechanism
Start Time: May 19
Total Supply: 2^32 $NOCK (approximately 4.29 billion)
Hardware Requirements: Initially CPU-based
Economic Model: $NOCK tokens are used to pay for block space fees on Nockchain, with no private placement shares, no centralized capital pressure, and 100% of $NOCK tokens distributed to miners.
A New Attempt at Fair Mining?
In fact, Nockchain is not the first project to adopt a zk mining model.
Previously, the "king-level" zkVM project Aleo, which raised over a hundred million in funding, attempted this but ended up "crashing" due to imbalances in token economic model design and mismatches between initial supply and market value expectations, facing collective backlash from miners.
In contrast, Nockchain has chosen to continue using the traditional PoW mechanism. To ensure fairness in token distribution, it officially announced that $NOCK tokens are 100% generated through zkPoW mining, with no private placement shares, no VC shares, and no team lock-up, and the official team does not control the token distribution rights.
As the date for the first mining approaches, discussions about Nockchain in the mining community continue to rise. Miners are expressing that "they need to quickly dust off their mining machines and optimize any hardware that can be upgraded," eagerly anticipating a share in the "fair mining" of Nockchain's first mining.
Currently, Nockchain has been open-sourced under MIT licensing, encouraging community members to participate in development, optimization, and testing. Additionally, GitHub provides detailed technical documentation and wallet setup tutorials, but there are currently no mining tutorials available.
In the future, whether Nockchain can ultimately achieve "100% fair distribution" in POW remains to be seen.
This article does not constitute investment advice, and due to limited information, please DYOR.
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