Spacemint: A Cryptocurrency Based on Proofs of Space

  title={Spacemint: A Cryptocurrency Based on Proofs of Space},
  author={Sunoo Park and Krzysztof Pietrzak and Albert Kwon and Jo{\"e}l Alwen and Georg Fuchsbauer and Peter Gazi},
  journal={ERCIM News},
Bitcoin has become the most successful cryptocurrency ever deployed, and its most distinctive feature is that it is decentralized. Its underlying protocol (Nakamoto consensus) achieves this by using proof of work, which has the drawback that it causes the consumption of vast amounts of energy to maintain the ledger. Moreover, Bitcoin mining dynamics have become less distributed over time. Towards addressing these issues, we propose SpaceMint, a cryptocurrency based on proofs of space instead of… CONTINUE READING


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