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Re:What is Chia cryptocurrency and why is it bad news for ha... by wmf on Saturday May 01, 2021 @06:39PM (#27010530)
There are multiple flavors of proof of space and they seem to be based on quite complex math to the extent that a simple explanation may not be possible.
Re:What is Chia cryptocurrency and why is it bad news for ha... by 0x264 on Sunday May 02, 2021 @03:30AM (#27013062)
There always is a simple explanation:

Resulting from (1) removing irrelevant details (details crucial for an implementation, but irrelevant for an initial mental model) and (2) making use of analogies built around already known concepts.

"Complex maths" is never an excuse to not find that explanation.

Disclaimer: I am a pure mathematician.

Re:What is Chia cryptocurrency and why is it bad news for ha... by maks25 on Saturday May 01, 2021 @06:44PM (#27010563)
I don’t think I have ever heard of proof of space, is it the same as proof of stake?
Re:What is Chia cryptocurrency and why is it bad news for ha... by warkdarrior on Saturday May 01, 2021 @06:56PM (#27010649)
Completely different things.

In Proof of Stake, the network (roughly!) allocates rewards for validating transactions based on the amount of coins you have, i.e., your stake in the network.

In Proof of Space, the network allocates rewards based on you proving that you are really storing the data you were supposed to store. If you fail to produce a proof for some data item the network expected you to have stored, you lose the reward.

More info:

https://en.wikipedia.org/wiki/Proof_of_space

https://en.wikipedia.org/wiki/Proof_of_stake

Re:What is Chia cryptocurrency and why is it bad news for ha... by Dylan16807 on Saturday May 01, 2021 @07:04PM (#27010718)
> In Proof of Space, the network allocates rewards based on you proving that you are really storing the data you were supposed to store.

Sort of? But you're usually not really storing data for proof of space. That's a different kind of system.

Re:What is Chia cryptocurrency and why is it bad news for ha... by conradev on Sunday May 02, 2021 @12:35AM (#27012383)
Yeah, that is called proof of storage in Filecoin:

https://spec.filecoin.io/#section-algorithms.pos

Re:What is Chia cryptocurrency and why is it bad news for ha... by gojomo on Saturday May 01, 2021 @07:08PM (#27010744)
Another important wrinkle is that Chia’s proof-of-space needs you to prove you’ve stored the right cryptographic noise - rather than, for example, any useful data.
Re:What is Chia cryptocurrency and why is it bad news for ha... by foobar33333 on Saturday May 01, 2021 @11:59PM (#27012246)
Another proof of waste shitcoin. Just what the world needed.
Re:What is Chia cryptocurrency and why is it bad news for ha... by CharlesW on Saturday May 01, 2021 @06:56PM (#27010655)
They are different. Chia isn't Proof of Stake because how many XCH has no impact on your odds of winning more.

https://en.wikipedia.org/wiki/Proof_of_space

https://en.wikipedia.org/wiki/Proof_of_stake

Re:What is Chia cryptocurrency and why is it bad news for ha... by CharlesW on Saturday May 01, 2021 @11:50PM (#27012215)
Sorry, dropped a couple words: "how many XCH you have has no impact"
Re:What is Chia cryptocurrency and why is it bad news for ha... by gojomo on Saturday May 01, 2021 @06:56PM (#27010657)
No - it’s a bit more like preprinting big ranges of lottery tickets, that require giant look-up tables moreso than raw computation.

So it requires the dedication of some hard/rivalrous real resource, storage space, other than either strictly energy/CPU (PoW) or the protocol’s own tokens (PoStake).

See the Chia ‘Green Paper’ for more details.