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Podcast: Software Engineering Daily
Episode: Spacemesh: A New Consensus Protocol Anton Learner
Description: Proof of Work cryptocurrency mining, as used on the Ethereum and Bitcoin blockchains, requires huge amounts of energy to validate transactions and generate new tokens. The alternative, Proof of Stake, needs large deposits of assets to be staked up front in order to work. While both consensus protocols have their own drawbacks, they are the current industry standards.The company Spacemesh developed a new consensus protocol with the goal of powering an energy-efficient, decentralized, secure, and scalable smart contracts global computer and a cryptocurrency in the permissionless settings. They call their protocol Proof of Space Time which...