Domain: Finance

Problem identification: 

To reduce or remove repeated hash queries, with the aim of curbing energy consumption 

Why Blockchain: 

To avoid the necessity of trusting a centralized banking system.

Functional Description

Consensus nodes are required to provide non-interactive proofs of storage dedication during puzzle solution searching, but they do not need to prove the storage of useful data, the proof is based on a large volume of random data stored on the provers’ hard drive. 

Consensus mechanism used

  • Proof of Space (PoSP)

Current status

  • Theoretical proposal.

Focus point commentary indicating the value of the case study in relation with learning modules

Learning Modules Focus Points

Consensus Presents a use case of the PoSP consensus mechanism


  • Not implemented.

Alternative Approaches:

  • Ethash


  1. S. Park, K. Pietrzak, J. Alwen, G. Fuchsbauer, and P. Gazi, “Spacecoin: A cryptocurrency based on proofs of space,” MIT, Tech. Rep., Jun. 2015.
  2. Cohen, B. (2017). Proofs of space and time. Blockchain Protocol Analysis and Security Engineering.