Sidebar
This is an old revision of the document!
Proof of Elasped Time (PoET)
Proof of Elapsed Time (PoET) was introduced by Intel with an intent to take over cryptographic puzzles involved in PoW mechanism by considering the fact that the CPU architecture and the quantity of mining hardware know when and at what frequency does a miner wins the block.
It is based on the idea of fairly distributing and expanding the odds for a bigger fraction of participants. And so, every participating node is asked to wait for a particular time to participate in the next mining process. The member with the shortest hold-up time is asked to offer a block.
At the same time, every node also comes up with their own waiting time, after which they go into sleep mode.
So, as soon as a node gets active and a block is available, that node is considered as the ‘lucky winner’. This node can then spread the information throughout the network while maintaining the property of decentralization and receiving the reward.Webpage: BHARDWAJ
~~DISCUSS
