When does Proof of Time come into play?
You mean in the context of cryptocurrencies, versus
- Proof of Work (Bitcoin, Etherium)
and
- Proof of Space (Chia)
I have no idea! Perhaps refer to
Proof of Time requires actual “wall clock” time to pass between blocks. Proof of Time is implemented by a Verifiable Delay Function that takes a certain amount of time to compute but is very fast to verify. The key idea of a VDF is that it requires sequential computation, so having many parallel machines or CPUs/GPUs/ASICs (as in Proof of Work mining) does not create a benefit, and thus electricity waste is minimized. Not everyone needs to run a VDF server (we call them Timelords), but users who wish to add more redundancy and security to the network can do so as the fastest one will always finish first and it takes only one Timelord on the network to complete a block and move the chain forward. Proof of Time also adds additional assurance that the next block’s validator will be chosen in a fully unpredictable way so that a user can have confidence that it is very unlikely that a party interested in their current transaction will be chosen as the next validator.
https://www.chia.net/assets/Chia-Business-Whitepaper-2021-02-09-v1.0.pdf
Not sure if that helps, but it’s what I was able to find. You may also want to read
https://www.chia.net/assets/ChiaGreenPaper.pdf
As it goes into more depth of everything