Lambda, a blockchain based storage solution provider, has announced the launch of Proof-of-Space-Time (PoST) protocol on GitHub. The protocol is a consensus algorithm for decentralized networks that streamlines the project development process.

The PoST algorithm allows communication between a storage provider and a verifier. Consequently, a storage provider can inform the details of file storage to a verifier, based on its location and duration. As reported, PoST provides high-speed verification capabilities, repetition computation, and streamlined proofs. Furthermore, the algorithm continuously random challenges on the blockchain via validator nodes.

Lucy Wang, the co-founder and CMO of Lambda, has said that the PoST algorithm represents the company’s dedication to the Lambda project. Additionally, he has claimed it to be the first-ever open source PoST algorithm available to developers on GitHub. As the algorithm is open-source, the developers can access the algorithm on GitHub.