See Also
Proof of Space (PoSpace) Summary [Cryptocurrency consensus mechanisms]
Proof of Space uses hard disk space as the value used to guarantee a participant’s stake in mining. By allocating disk space, the network participant provides value to the network, which uses this space to solve computational problems. Given low network bandwidth for a lot of regions, making it difficult to transfer large amounts of […]
Proof of Elapsed Time (POET) Summary [Cryptocurrency consensus mechanisms]
In this poetically named consensus mechanism, network participants prove that they have slept for a random amount of time before being able to mint a block. POET was released by Intel in 2016 and was originally aimed at trusted computing using Intel CPU’s. A special instruction set called Software Guard Extensions (SGX) allows programs to […]
Proof of Space Time (PoST) Summary [Cryptocurrency consensus mechanisms]
Physicists have been discussing spacetime since the early 1900’s. A very smart person, by the name of Albert Einstein, modeled space as 4 dimensions rather than just 3. The axis were then X, Y, Z and …. time. Fortunately, you don’t need to understand Relativity Theory in order to grasp Proof of Spacetime! PoST Fast […]
Is your cryptocurrency at risk of a 51% attack?
Half plus one attacks could theoretically happen to any Proof of Work based cryptocurrency. The amount of risk of such an attack happening depends on several factors, including the number of miners who participate in the network, the distribution of hashrate among the miners, the existence of unknown and exploitable security flaws and other factors. […]