Chia Network Inc. (20240250829). METHODS FOR GRINDING-RESISTANT CONSENSUS IN A PROOF-OF-SPACE-BASED BLOCKCHAIN simplified abstract
Contents
METHODS FOR GRINDING-RESISTANT CONSENSUS IN A PROOF-OF-SPACE-BASED BLOCKCHAIN
Organization Name
Inventor(s)
Bram Cohen of San Francisco CA (US)
Krzysztof Pietrzak of Vienna (AT)
Mariano Sorgente of Tokyo (JP)
METHODS FOR GRINDING-RESISTANT CONSENSUS IN A PROOF-OF-SPACE-BASED BLOCKCHAIN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240250829 titled 'METHODS FOR GRINDING-RESISTANT CONSENSUS IN A PROOF-OF-SPACE-BASED BLOCKCHAIN
The abstract describes a method for extending a blockchain by storing a plot file at a space server in a distributed network, accessing a proof-of-space challenge, retrieving a proof-of-space based on the challenge and plot file, calculating a quality-based number of iterations, generating a block with the proof-of-space, challenge chain signage point, and reward chain signage point, and broadcasting the block to the network.
- Storing a plot file at a space server in a distributed network
- Accessing a proof-of-space challenge during a current slot in the series of slots
- Retrieving a proof-of-space based on the challenge and plot file
- Calculating a quality-based number of iterations
- Generating a block with the proof-of-space, challenge chain signage point, and reward chain signage point
Potential Applications: - Enhancing blockchain technology - Improving security and efficiency in distributed networks - Facilitating decentralized storage solutions
Problems Solved: - Ensuring data integrity and security in blockchain networks - Enhancing the scalability and performance of blockchain systems - Providing a reliable method for extending blockchain functionality
Benefits: - Increased security and trust in blockchain transactions - Improved efficiency and scalability of distributed networks - Enhanced data storage and retrieval capabilities
Commercial Applications: Title: "Blockchain Extension Method for Enhanced Security and Efficiency" This technology can be applied in industries such as finance, healthcare, supply chain management, and data storage services. It can revolutionize how data is stored, accessed, and secured in various sectors, leading to increased trust and efficiency in transactions.
Questions about the technology: 1. How does this method improve the security of blockchain networks? 2. What are the potential implications of this technology on data storage services?
Original Abstract Submitted
a method for extending a blockchain includes, at a space server in a distributed network: storing a plot file. the method also includes accessing a blockchain: during a current slot in the series of slots, accessing a proof-of-space challenge based on a current slot challenge associated with the current slot and a challenge chain signage point; in response to accessing the proof-of-space challenge, retrieving a proof-of-space based on the proof-of-space challenge and the plot file; calculating a quality-based number of iterations based on the quality of the proof-of-space; generating a block comprising the proof-of-space, the challenge chain signage point, and a reward chain signage point; and broadcasting the block to the distributed network.
