Recently, the crypto industry witnessed the unveiling of the first-ever blockchain open source Proof-of-Space-Time algorithm, as Lambda launched the transparent PoST protocol. The PoST comes with repetition computation, streamlined proofs and high-speed verification capabilities. According to the press release, the algorithm is available on the popular software development platform— GitHub.
Lambda PoST Algorithm
According to the press report, streamlined project development, as well as continuously random challenges are catered for by the Lambda PoST algorithm through the use of validator nodes.
Lucy Wang the co-founder of Lambda helped to clarify this in a statement which reads:
“The PoST algorithm is a testament to our ingenuity and dedication to the Lambda project as our team of expert computer scientists utilize top technology innovations to continually improve data integrity proof processing on the blockchain. We are proud to have developed and now share the first-ever open source PoST algorithm with the developer community on GitHub and look forward to creating new ideas and research for distributed blockchain storage in the future”.
How this Affects the Decentralized Data Storage Arena
PoST is a consensus algorithm which is targeted at decentralized networks.
Through the algorithm, communication between a storage provider and a verifier is encouraged. The PoST helps a verifier stay informed about the details of how files are stored, as it permits a storage provider to give this information to the verifier.
Valid PoST is generated by a storage provider, as well as special unique characters for getting rewards as data is stored. Some of the unique features of the algorithm which are also advanced were highlighted by Lambda in an article they published. They went on to mention that there are several advantages the PoST offers over other decentralized file storage protocols. Lambda’s main objective is to see its protocol stay effective as well as easy to use, as they try to prevent any form of technical issues arising, which will affect the development cycle.