Proof of Elapsed Time (PoET)

Anantashayana Hegde

7/21/23, 5:17 PM

Proof of Elapsed Time (PoET) was discovered by Intel in 2016 as a consensus mechanism primarily for permissioned blockchain networks. Importantly, we can only use this concept in permissioned blockchain, not public or private.

I think it is better than all other consensus algorithms as all miners are treated equally here. But why can't we use this concept in cryptocurrencies?

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cryptocurrency

Patriot

7/24/23, 2:38 PM

The questioner was directed here from another part of StackExchange.

Score:1

Crypto

lamba

7/22/23, 9:26 PM

From what I understand of PoET is that you need a trusted execution environment (TEE) such as Intel SGX to create the proof. Having a TEE allows you to do remote attestation, which basically is a way for you to prove to the nodes that you executed some piece of code honestly. In the case of PoET, the code would be something like sleep(10).

The downside of TEE is that you're shifting the trust to the CPU manufacturer, in this case Intel. Intel needs to maintain some signing keys to sign the enclave/TEE. All security is lost if those are compromised. Additionally, there are numerous attacks on Intel SGX, see https://en.wikipedia.org/wiki/Software_Guard_Extensions#Attacks. Once an attack is discovered, it's sometimes not easy to patch and you'd need to upgrade the hardware.

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Anantashayana Hegde

7/23/23, 3:18 AM

Ok, I understood. Thank you very much

Patriot

7/24/23, 2:26 PM

@AnantashayanaHegde You might want to vote up an answer that you like. At you discretion, you can accept an answer, which will further reward the person who wrote it.

Gilles 'SO- stop being evil'

7/24/23, 9:00 PM

Remote attestation doesn't prove that a piece of code was executed honestly. It proves that a certain piece of data came from a TEE (or from a specific application running in that TEE). The attestation isn't directly tied to the code that executed it: the relationship between the data and the code that produced it comes solely from trusting the TEE manufacturer, the application manufacturer and their deployment chain. The attestation doesn't prove honesty, just authenticity.

Anantashayana Hegde

7/26/23, 3:14 AM

@Patriot Yes, I wanted to upvote the answer But I joined recently and I don't have enough reputation to upvote. So it was coming like this when I tried to upvote - " Thanks for the feedback! You need at least 15 reputation to cast a vote, but your feedback has been recorded. "

Elon Musk

I sit in a Tesla and translated this thread with Ai:

EN: Proof of Elapsed Time (PoET)

TH: การพิสูจน์เวลาที่ผ่านไป (PoET)

RO: Dovada timpului scurs (PoET)

RU: Доказательство прошедшего времени (PoET)

VI: Bằng chứng về thời gian đã trôi qua (PoET)

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