PROOF OF HISTORY

Proof of History (PoH) is an algorithm developed by Anatoly Yakovenko for verifying the order and passage of time between events on a blockchain (i.e. historical records) using a recursive cryptographic hashing function (aka verifiable delay function). PoH is not a consensus algorithm but rather a mechanism allowing network participants to discern the passage of time themselves instead of waiting on others to corroborate it. PoH introduces a fundamental change with respect to how other public blockchains come to agreement on the passage of time leading to optimized network effects of block confirmation times (i.e. speedier transactions). PoH is a core component of the Solana blockchain helping it excel in the areas of speed and capacity.