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validation, </strong>and<strong> network participation </strong>on a<strong>&nbsp;<a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain.

/n

They construct the design of the blockchain for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies, which is the distributed database management system for digital money to be safely transacted on the internet.</p>","level":"easy","meta_title":"What is Protocol? Definition & Meaning | Crypto Wiki","meta_description":"Protocol meaning: Protocol - is a fundamental collection of instructions that describes network interactions, such as consensus, transaction validation, and network involvement on a blockchain.","meta_keywords":null,"language":"en","created_at":"2022-03-25T15:07:11.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-protocol"},"prevSection":{"id":620,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Proof-of-Spacetime (PoSt)?","slug":"what-is-proof-of-spacetime-post","section":"P","keyword":"Proof-of-Spacetime (PoSt)","status":"published","definition":"a mechanism used to prove that someone has dedicated a certain amount of space for storage.","content":"<p><strong>Proof-of-Spacetime (PoSt)</strong> is a mechanism used by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-storage-miners/">storage miners</strong></a> to prove that they are using their storage space for unique network data. PoSt is commonly used on the Filecoin blockchain.</p>\n<p>Proof-of-Spacetime shares similarities with the <strong>Proof-of-Capacity</strong> mechanism. Under both mechanisms, the <strong>participants require financial incentives to participate in the network</strong>. If they actively harm the network, they yield no benefits.</p>\n<p>Unlike Proof-of-Capacity, storage miners using the PoSt mechanism must prove that they are <strong>physically storing network data within a certain timeframe</strong>. Miners are chosen randomly and their data is read to verify the network data.</p>\n<p>According to Tal Moran and Ilan Orlov, developers of the Proof-of-Spacetime mechanism, the process is considered to be a <strong>Rational Proof-of-Spacetime</strong> as the storage costs are proportional to the product of storage capacity and the timeframe when it&rsquo;s in use.</p>","level":"easy","meta_title":"What is Proof-of-Spacetime (PoSt)? Definition & Meaning | Crypto Wiki","meta_description":"Proof-of-Spacetime (PoSt) meaning: Proof-of-Spacetime (PoSt) - a mechanism used to prove that someone has dedicated a certain amount of space for storage.","meta_keywords":null,"language":"en","created_at":"2022-03-25T15:04:52.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-proof-of-spacetime-post"},"currentChapter":"P","currentSection":"what-is-proof-of-validation-pov","chapterTitle":"P","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-proof-of-validation-pov","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Crypto Terms: Letter P

What is Proof-of-Validation (PoV)?

Proof-of-Validation (PoV) MEANING:
Proof-of-Validation (PoV) - a type of Proof-of-Stake (PoS) consensus mechanism where consensus is reached via staked validator nodes.
Easy
1 minute

Let's find out Proof-of-Validation (PoV) meaning, definition in crypto, what is Proof-of-Validation (PoV), and all other detailed facts.

Proof-of-Validation (PoV) is a form of PoS consensus process in which validator nodes are staked to reach consensus. Every node in a PoV system holds the full history of the transactions recorded in the blocks that make up the blockchain.

A user’s public key or the native token of the node can be used to identify a copy of all user accounts. This essentially means that your crypto wallet is identifiable, and your token balance can be viewed by anyone who holds the public key.

A user can then stake their crypto tokens in the validator nodes. The number of nodes that belong to a validator depends on how many tokens were stakes within each of the validators.

A new block is confirmed if at least two-thirds of the network validators send a commit vote for the block. Proof-of-Validation protocols abide by the Byzantine fault tolerance as they can continue to function normally and reach consensus if one-third or fewer nodes within the network are compromised.