Crypto Terms:
Letter P
What is Proof-of-Immutability (PoIM)?
Meaning:
Proof-of-Immutability (PoIM) -
a type of blockchain that stores blockchain metadata in a distant hash vault using a sophisticated hash-based method.
Let's find out Proof-of-Immutability (PoIM) meaning, definition in crypto, what is Proof-of-Immutability (PoIM), and all other detailed facts.
Without needing to disperse data across nodes, Proof-of-Immutability (PoIM) allows the blockchain to store data in a decentralized and provably immutable manner. It is a form of blockchain that uses a sophisticated hash-based mechanism to store blockchain metadata in a remote hash vault. It was invented by ParallelChain Lab and its first implementation was on ParallelChain Private. Note that PoIM methods have been applied to such patents as US-2021-0297265-A1; US-2021-0218549-A1; EP3848845; CN2021102000629400.
The data added to the ledger is not replicated or distributed around network nodes, it rather is a hash pointer with no traceable information. For this reason, a PoIM-powered blockchain network preserves the strictest data privacy standards. This method also allows a blockchain to scale and achieve high throughput while maintaining its decentralized nature.
The PoIM system enables blockchain network users to examine the trustworthiness of one another's data by proving its immutability at any time, without breaching the data privacy of the inspected party. At first glance, this mechanism for proving immutability might appear redundant, given the fact that immutability is thought to be inherent in all blockchains.
Sure, when compared to centralized database systems, blockchain as a distributed ledger technology does have a higher level of immutability. However, the degree of immutability differs between blockchains, depending on the consensus mechanism and the size of the membership. A permissioned/private blockchain network, for example, is typically smaller in scale and thus easier to manipulate.
PoIM provides a way for participants to check if the chain has been tampered with or if a record has been changed, without having to visit the database. Besides, as real-world adaption accelerates, an auditing mechanism for certifying information integrity within the blockchain ledger will become increasingly important. It will probably be used in advancing the legal recognition of blockchain data and smart contracts.
In addition, PoIM is planned to be used in "Inter-ParallelChain Communication" to meet the trust and data privacy criteria for permissioned and permissionless networks to interoperate in the Web3 ecosystem.
decentralized and blockchain-based data storage platform. <\/p>\n<p>Network participants become storage miners so they could reap the rewards for providing extra storage space. In order to confirm that everything is proceeding according to the rules, proof-of-replication was introduced. PoRep allows the storage miner to prove that the space is utilized to store copies of data and that nothing else is stored in said storage space. With this system in place, PoReps are utilized in <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-spacetime-post/">proof-of-space (PoS)<\/strong><\/a> systems, and the above-mentioned data can be easily recovered. <\/p>\n<p>PoReps ensure that the data won’t be lost in case of issues with <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-node/">nodes thus ensuring resilience. However, proof-of-replication has received some critiques based on its excessive <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-bandwidth/">bandwidth usage since each time a new node is added to the redundancy pool, a copy of the data has to be transmitted.<\/p>","definition":"is a type of proof a storage miner has to provide to show the network that they have a replica of information or data.","status":"published","meta_title":"What is Proof-of-Replication (PoRep)? Definition & Meaning | Crypto Wiki","meta_description":"Proof-of-Replication (PoRep) meaning: Proof-of-Replication (PoRep) - is a type of proof a storage miner has to provide to show the network that they have a replica of information or data.","meta_keywords":null}"
:prev-section="{"id":899,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Consensus_decision-making","level":"hard","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-23T18:33:19.000000Z","slug":"what-is-proof-of-history-poh","title":"What is Proof-of-History (PoH)?","section":"P","keyword":"Proof-of-History (PoH)","content":"<p>Proof-of-History (PoH) is a consensus mechanism that decreases the load on network nodes while processing blocks by <strong>integrating time itself into the blockchain<\/strong>. Nodes contain internal clocks that validate events and time.<\/p>\n<p>In a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">Proof-of-Work (PoW)<\/strong><\/a> scenario, the successful block miner is the first to evaluate the suitable <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-nonce/">nonce. This nonce takes a received quantity of computer power. Proof-of-History (PoH) is a bit different since it is able to <strong>overcome a verifiable delay function (VDF) <\/strong>by running a particular set of chronological steps. Since no parallel processing is allowed, evaluating the time it will take for each step is easy.<\/p>\n<p><strong>PoH employs Bitcoin's <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-sha-256/">SHA-256 <strong>algorithm <\/strong>to provide a reliable time-tracking mechanism within the decentralized blockchain. SHA-256 is a variant of SHA-2, a sophisticated encryption method created by the National Security Agency (NSA).<\/p>\n<p><strong>The only blockchain that uses the Proof-of-History algorithm is Solana<\/strong>. Hence, the blockchain can process about 60,00 transactions per second, making it very scalable. It also ensures that evaluating the timing of a transaction is quicker.<\/p>\n<p><strong>The mechanism is based on Proof-of-Stake;<\/strong> however, it does have a varying technique for calculating time. To evaluate the passage of time, historical events are currently being employed. These events are made into a hash, which can only be produced by prior events. It is impossible to counterfeit the hash.<\/p>\n<p>However, Proof-of-History has some drawbacks. For instance, there were several attacks in Solana found in the past that were caused by Proof-of-History. Also, the technique was never tested on a wide scale, so there are no guarantees that it actually operates without any errors.<\/p>\n<h2>Proof-of-History (PoH) VS Proof-of-Stake (PoS)<\/h2>\n<p>There are a lot of similarities between Proof-of-Stake and Proof-of-History algorithms. This is because <strong>Proof-of-Stake was used as a base for creating Proof-of-History<\/strong>.<\/p>\n<p>In both methods, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-validator/">validators are utilized to ensure that transactions are validated, and new blocks are created. Also, both of them are developed on the very same foundation.<\/p>\n<p>Nonetheless, there are major differences between these two algorithms. <strong>Proof-of-Stake employs the timestamp function<\/strong>. This indicates that every node depends on the network's timestamp. The network functions in a slower manner because time has to flow via the network first.<\/p>\n<p>Besides, Proof-of-Stake uses the Verifiable Delay Function, which computes the time based on previous events. Following an examination of these occurrences, a hash function is created that can be verified by anyone. This hash is added to each and every block produced by the network.<\/p>\n<p> <\/p>","definition":"a consensus mechanism that incorporates time into the blockchain.","status":"published","meta_title":"What is Proof-of-History (PoH)? Definition & Meaning | Crypto Wiki","meta_description":"Proof-of-History (PoH) meaning: Proof-of-History (PoH) - is a method of incorporating time into the blockchain.","meta_keywords":null}"
:model="{"id":884,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Immutable_object","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-23T18:23:54.000000Z","slug":"what-is-proof-of-immutability-poim","title":"What is Proof-of-Immutability (PoIM)?","section":"P","keyword":"Proof-of-Immutability (PoIM)","content":"<p><strong>Without needing to disperse data across nodes<\/strong>, Proof-of-Immutability (PoIM) allows the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-blockchain/">blockchain to store data in a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-decentralization/">decentralized and provably <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-immutable/">immutable manner. It is a form of blockchain that uses a sophisticated <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-hash/">hash-based mechanism to store blockchain metadata in a <strong>remote hash vault<\/strong>. It was invented by ParallelChain Lab and its first implementation was on ParallelChain Private. Note that PoIM methods have been applied to such patents as <em>US-2021-0297265-A1; US-2021-0218549-A1; EP3848845; CN2021102000629400<\/em>.<\/p>\n<p><strong>The data added to the<\/strong> ledger is not replicated or distributed around network <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-node/">nodes, it rather is a hash pointer with no traceable information. For this reason, a <strong>PoIM-powered blockchain network<\/strong> preserves the strictest data privacy standards. This method also allows a blockchain to scale and achieve high <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-throughput/">throughput while maintaining its decentralized nature.<\/p>\n<p>The PoIM system <strong>enables blockchain network users to examine the trustworthiness of one another's data<\/strong> by proving its immutability at any time, without breaching the data privacy of the inspected party. At first glance, this mechanism for proving immutability might appear redundant, given the fact that <strong>immutability is thought to be inherent in all blockchains<\/strong>.<\/p>\n<p>Sure, when compared to centralized database systems, blockchain as a distributed ledger technology does have a higher level of immutability. However, the degree of immutability differs between blockchains, depending on the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-consensus/">consensus mechanism<\/strong><\/strong><\/a> and the size of the membership. A permissioned\/private blockchain network, for example, is typically smaller in scale and thus easier to manipulate.<\/p>\n<p>PoIM provides <strong>a way<\/strong> for participants to check if the chain has been tampered with or if a record has been changed, without having to visit the database. Besides, as real-world adaption accelerates, an <strong>auditing mechanism for certifying information integrity within the blockchain ledger will become increasingly important<\/strong>. It will probably be used in advancing the legal recognition of blockchain data and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-smart-contract/">smart contracts<\/strong><\/a>.<\/p>\n<p>In addition, PoIM is planned to be used in \"Inter-ParallelChain Communication\" to meet the trust and data privacy criteria for <strong>permissioned<\/strong> and permissionless networks to interoperate in the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-web-3-0/">Web3 ecosystem.<\/p>","definition":"a type of blockchain that stores blockchain metadata in a distant hash vault using a sophisticated hash-based method.","status":"published","meta_title":"What is Proof-of-Immutability (PoIM)? Definition & Meaning | Crypto Wiki","meta_description":"Proof-of-Immutability (PoIM) meaning: Proof-of-Immutability (PoIM) - a type of blockchain that stores blockchain metadata in a distant hash vault using a sophisticated hash-based method.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
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current-chapter="P"
current-section="what-is-proof-of-immutability-poim">
