Chia Network Inc. (20240265004). METHODS FOR EXTENDING A PROOF-OF-SPACE-TIME BLOCKCHAIN simplified abstract
Contents
METHODS FOR EXTENDING A PROOF-OF-SPACE-TIME BLOCKCHAIN
Organization Name
Inventor(s)
Bram Cohen of San Francisco CA (US)
Krzysztof Pietrzak of San Francisco CA (US)
Mariano Sorgente of San Francisco CA (US)
METHODS FOR EXTENDING A PROOF-OF-SPACE-TIME BLOCKCHAIN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240265004 titled 'METHODS FOR EXTENDING A PROOF-OF-SPACE-TIME BLOCKCHAIN
The abstract describes a method for extending a blockchain by allocating drive storage for generating proofs-of-space, responding to challenges based on prior blocks, and creating new blocks with updated proofs.
- Allocating drive storage for generating proofs-of-space
- Responding to challenges based on prior blocks of the blockchain
- Generating new blocks with updated proofs-of-space and proofs-of-time
- Broadcasting new blocks over a distributed network
Potential Applications: - Enhancing blockchain scalability and security - Facilitating efficient storage utilization in blockchain networks
Problems Solved: - Addressing the need for efficient storage allocation in blockchain networks - Improving the security and integrity of blockchain data
Benefits: - Increased scalability and efficiency in blockchain operations - Enhanced security and trustworthiness of blockchain transactions
Commercial Applications: Title: "Blockchain Storage Extension Technology for Enhanced Security" This technology can be applied in various industries such as finance, healthcare, and supply chain management to improve data security and streamline operations.
Questions about Blockchain Storage Extension Technology: 1. How does this method improve the scalability of blockchain networks? 2. What are the potential challenges in implementing this technology in real-world applications?
Frequently Updated Research: Stay updated on the latest advancements in blockchain technology, particularly in the areas of storage optimization and security protocols.
Original Abstract Submitted
a method for extending a blockchain comprises, at a space server: allocating an amount of drive storage for generating proofs-of-space; or accessing a first challenge based on a prior block of the blockchain, the prior block comprising a first proof-of-space and a first proof-of-time; in response to accessing the first challenge, generating a second proof-of-space based on the first challenge and the amount of drive storage, the second proof-of-space indicating allocation of the amount of drive storage; accessing a second proof-of-time based on the prior block and indicating a first time delay elapsed after extension of the blockchain with the prior block; generating a new block comprising the second proof-of-space and the second proof-of-time; and broadcasting the new block over a distributed network.
