One of the main challenges with current cryptocurrency systems is that they do not provide a means for the average person to contribute and receive tangible rewards. Proof of Work requires significant computational power, while Proof of Stake demands financial investment to participate. At Carbon Fractal, our goal is to enable everyday individuals to engage in the process of signing blocks and earn tokens for their contributions. All that is required is a mobile device or similar technology, and a willingness to sign blocks created by us within a short time frame.

How it works?

In the physical world, it is a common legal practice to have a witness present during transactions. A witness is someone asked to be present so they can testify that the transaction has occurred. In our system, we randomly select participants from an available pool and ask them to sign newly minted blocks, alongside the parties involved in the transaction. The signing process is simple: participants use their cryptographic keys, securely stored on their devices, to verify the block.

FIDO (Fast Identity Online) and WebAuthn are widely adopted standards for passwordless authentication. These standards ensure that cryptographic keys are generated and stored securely on a user’s device during the registration process. During authentication, the user is prompted to sign a random hash to confirm their identity. Instead of asking for a random hash, we ask the user to sign the current block hash. This signed block is then added to the next block in the chain, creating a blockchain that is validated by numerous end users, increasing both security and decentralization.