Author: Patti, ChainCatcher
Editor: TB, ChainCatcher
On the 19th of this month, the blockchain project Nockchain, based on zkVM POW, is about to launch Dumbnet, with the first mine about to be excavated, and miners are eager to get started.
Why is Nockchain Causing a Buzz in the Mining Circle?
Nockchain is a lightweight zero-knowledge proof (ZK) Layer 1 (L1) blockchain developed by ZorpZK. Previously, Zorp completed a $5 million seed round led by Delphi Ventures, with core team members Sam Parker and Shelby Evans.
Based on the Nock's concise architecture, Zorp has created a combinator-based virtual machine compatible with zero-knowledge proofs. As a blockchain based on "proof-of-useful-work", Nockchain uses a zero-knowledge virtual machine (ZKVM), achieving high throughput capabilities through proofs of computation, storage, and a new namespace. 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 this year, the U.S. Securities and Exchange Commission (SEC) published regulatory guidance on proof-of-work (PoW) mining activities, concluding for the first time that "PoW mining activities do not constitute securities issuance", meaning PoW mining activities are exempt from federal securities law regulation, and miners do not need to register with the SEC. This policy creates a favorable environment for the development of PoW projects, and miners have entered a regulatory spring. As one of the few PoW projects this year, Nockchain's first mine naturally attracts much attention.
Nockchain's popularity is mainly due to its core technology and distribution mechanism, which claims to be "fair, transparent, and verifiable".
Technical Features
According to official information, Nockchain uses 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, in Nockchain, miners must solve ZKP puzzles to prove computing power. Additionally, to address the centralization issue of mining chips, Nockchain adopts a progressive hardware compatibility strategy. In the early stages of the project, CPU mining will be supported, with potential future transitions to GPU and ASIC mining.
Moreover, Nockchain's architectural design integrates high throughput and verifiability, capable of handling heavy computational tasks while providing proofs of computation, storage, and namespace, and real-time verification of transaction data to reduce fraud risk.
Token Mechanism
100% Mining Output: According to official explanation, Nockchain's $NOCK token is 100% produced through zkPoW mining, with no pre-mining, no VC shares, no team token lockup, and the project team will not control token distribution.
Fair Genesis Block Launch: The project team states that to maintain the network's decentralized nature, the Genesis Block will not issue coinbase rewards, but instead embed a specific Bitcoin block height 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 can participate in network governance through staking.
Mining Mechanism
Mining Start Time: May 19
Total Supply: 2^32 $NOCK tokens (approximately 4.29 billion)
Hardware Requirements: Initially focused on CPU
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 to be distributed to miners.
Another Attempt at Fair Mining?
In fact, Nockchain is not the first project to adopt a zk mining model.
Previously, the "top-tier" zkVM project Aleo, which raised over hundreds of millions, had already tried the waters but ended up "failing" due to an unbalanced token economic model and mismatched initial supply and market value expectations, facing collective criticism from miners.
In contrast, Nockchain chose to follow the traditional PoW mechanism, and to ensure token distribution fairness, officially announced that $NOCK tokens are 100% mined through zkPoW, with no private placement shares, no VC shares, no team token lockup, and the official team does not control token distribution.
As the first mining date approaches, Nockchain's discussion heat in the mining circle continues to rise. Miners are saying "we need to dust off our mining machines and upgrade hardware," eagerly anticipating a share in Nockchain's "fair mining" first mine.
Currently, Nockchain is open-sourced under the MIT license, encouraging community members to participate in development, optimization, and testing. Additionally, GitHub provides detailed technical documentation and wallet setup tutorials, though mining tutorials are not yet available.
Whether Nockchain can ultimately achieve "100% fair distribution" of PoW remains to be seen with time.
This article does not provide investment advice, and due to limited information, please DYOR.
