Proof of Space Time is a consensus mechanism where participants demonstrate that they have allocated a specific amount of storage space over a defined period. Unlike Proof of Work, which relies on computational effort, this mechanism leverages storage resources as a basis for network security and block validation. It aims to offer a more energy-efficient alternative for maintaining decentralized ledgers. This system rewards participants for persistent storage provision.
Context
Proof of Space Time is gaining traction as an environmentally friendlier alternative to traditional Proof of Work systems, notably implemented by projects like Chia. Discussions often center on its long-term security guarantees, resistance to centralization, and the economic incentives for storage providers. Its adoption could significantly alter the energy consumption profile of blockchain networks, a key topic in climate and technology news.
SNACK is a new cryptographic primitive that enables superlight clients to trustlessly verify complex blockchain state queries from a single untrusted full node.
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