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Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.

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Proof of Spacetime

Proof of Spacetime (PoSt) is a novel consensus mechanism utilized by the Filecoin protocol, which awards native protocol coins to users who store data for other users. Proof of Spacetime, along with ‘Proof of Replication,’ is part of the decentralized storage network’s ‘Proof of Storage’ model. Proof of Spacetime enables storage providers (the ‘miners’ of the Filecoin network) to prove they have stored other users’ data for a specified amount of time. Proofs of Replication provide confirmation that a user’s data has been replicated on a uniquely dedicated segment of the miner’s hardware. Proofs of Spacetime are generated through the creation of sequential ‘Proofs of Replication’ and the recursive composition of executions. After a miner generates a PoSt, anyone in the network may confirm if the contributions claimed by the miner are correct by examining the blockchain.