Blockchain News

Lambda Unveils Open Source Blockchain Algorithm PoST

Lambda Unveils Open Source Blockchain Algorithm PoST

Blockchain Storage insurgent Lambda announced its innovative open source Proof of Space-Time protocol today. Its transparent PoST protocol that comes with streamlined proofs, fast repetition computation and verification capabilities shall be available to developers worldwide on GitHub. GitHub is a great software development podium.

The PoST Algorithm by Lambda

Lambda launched its PoST protocol in a press release on 27th November 2018. The PoST algorithm by Lambda ensures efficient project development along with constant and random challenges on blockchain through validator nodes.

In regards to the launch of the PoST protocol by Lambda, the company CMO and co-founder, Lucy Wang, stated:

“The Proof of Space-Time protocol is a testament to our commitment and ingenuity to Lambda assignments. Our team of skilled computer scientists makes use of some of the best technological innovations for improving data integrity proof processing on the blockchain. The introduction of this algorithm would, therefore, be of good help to our team. We take pride in developing and sharing the blockchain open source PoST protocol for the first time with the community of developers across the world. The algorithm shall be available on GitHub. With this, we are looking forward to developing new concepts and researching distributed blockchain storage shortly.”

Reforming the Field of Decentralized Data Storage

PoST is a protocol between a verifier and a storage service provider. Here, the storage service provider informs the verifier that a particular file has been properly stored for a certain time span. It is essential for the storage providers to come up with authentic Proofs of Storage with robust features for the storage of data.

The PoST algorithm by Lambda makes the effective use of validator nodes for streamlining project development. It does this by creating random and constant challenges on the blockchain.

The system works by generating valid PoST featuring particular attributes for obtaining the rewards of storing data. Lambda has outlined some of the most advanced characteristics of the algorithm in an article published in Medium.

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