What is Proof of Elapsed Time?
It is always interesting to check out the different distributed consensus algorithms in the world today. It is evident proof of work and proof of stake remain far more popular than any others right now. Then again, this situation may come to change at some point in the future. Proof of Elapsed Time is definitely a contender to shake things up a bit in the world of cryptocurrency. Right now, it is unclear if any developers are looking at integrating it, but it certainly has its merits.
More specifically, this concept was first introduced by Intel a few years ago. Many people were surprised to see a technology giant introduce a distributed consensus mechanism of this kind. Then again, the company has been keeping an eye on blockchain technology and distributed ledgers for quite some time now. It is only normal they want to come up with some creative ideas and see how they work.
Read more here: https://themerkle.com/what-is-proof-of-elapsed-time/
Good post. Keep on steeming!
Proof of work is ultimately inefficient because it requires effort. Proof of elapsed time requires no effort which ultimately reflects the higher order of nature and the universe.
What a marvelously insightful comment there larzkaos. I just followed you because of it. The Tao of nature is indistinguishable from the path of least resistance. Water always follows the path of least resistance. Nature never works so to speak. Everything is of itself. Proof of elapsed time may just represent another shift in paradigm when it comes to the thinking going on in the cryptosphere!