Crypto Terms: Letter P

What is Proof-of-Spacetime (PoSt)?

Proof-of-Spacetime (PoSt) MEANING:
Proof-of-Spacetime (PoSt) - a mechanism used to prove that someone has dedicated a certain amount of space for storage.
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Let's find out Proof-of-Spacetime (PoSt) meaning, definition in crypto, what is Proof-of-Spacetime (PoSt), and all other detailed facts.

Proof-of-Spacetime (PoSt) is a mechanism used by storage miners to prove that they are using their storage space for unique network data. PoSt is commonly used on the Filecoin blockchain.

Proof-of-Spacetime shares similarities with the Proof-of-Capacity mechanism. Under both mechanisms, the participants require financial incentives to participate in the network. If they actively harm the network, they yield no benefits.

Unlike Proof-of-Capacity, storage miners using the PoSt mechanism must prove that they are physically storing network data within a certain timeframe. Miners are chosen randomly and their data is read to verify the network data.

According to Tal Moran and Ilan Orlov, developers of the Proof-of-Spacetime mechanism, the process is considered to be a Rational Proof-of-Spacetime as the storage costs are proportional to the product of storage capacity and the timeframe when it’s in use.