To reduce or remove repeated hash queries, with the aim of curbing energy consumption
To avoid the necessity of trusting a centralized banking system.
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)
- 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.
- S. Park, K. Pietrzak, J. Alwen, G. Fuchsbauer, and P. Gazi, “Spacecoin: A cryptocurrency based on proofs of space,” MIT, Tech. Rep., Jun. 2015.
- Cohen, B. (2017). Proofs of space and time. Blockchain Protocol Analysis and Security Engineering.