Updated Proof of Space and Time Consensus Algorithm in Green Paper
The new version of Green Paper has been updated to explain the consensus algorithm Proof of Space and Time — PoST, which actually already works on the Chia network. Work on improvements started after viewing presentations and took up most of 2020.
The new version explains the matching algorithm that was deployed in the blockchain. It is similar to the first version, but offers improvements in security and stability, continues to use space and time proofs.
Here is a list of the main improvements:
- The call block is moved to the beginning of the period, not to its end. This makes the process of creating calls more predictable and simplifies the processing of blocks.
- Use Verifiable Delay Functions (VDF) wherever possible. This allows you to hide the consequences of holding the block, making manipulations less transparent at the time of block creation. Attackers will not be able to determine in advance whether holding the block will be beneficial for them.
- The introduction of the VDF ASIC prevents some network participants from gaining unfair advantages at the expense of others.
The main idea is that protection against manipulation is enhanced by using one current block to call upcoming blocks, rather than aggregating all previous data.
Improvements have been added, such as moving the call block to the beginning of the period and using verifiable delay functions. This makes manipulations with blocks less transparent and complicates their retention by intruders.
It is important that if there is a fast and honest Timelord in the network, no one will be able to get more than their share of the reward for blocks. Thanks to the improvements, the network becomes more stable and fair for all participants.
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