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Definition: proof-of-storage algorithm

A blockchain consensus mechanism that is based on the amount of storage in a node. Used in decentralized storage networks, the primary forms of proof-of-storage (PoS) are proof-of-replication (PoRep) and proof-of-spacetime (PoSpacetime) such as used in the Filecoin network. PoRep ensures that data have been replicated, and PoSpacetime ensures that data have resided in storage for a period of time. See Filecoin and consensus mechanism.