Permacoin is a blockchain technology that is similar to Bitcoin developed by scientists at the University of Maryland and Microsoft. Permacoin requires miners to contribute both computational and storage resources for the purpose of securely storing archival data. Permacoin mining is based on Proofs-of-Retrievability (PORs) that is a combination of computational calculations and data storage that gives rise to a highly distributed file storage system with less waste than compared to Bitcoin mining.
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