Proof of Elapsed Time (PoET) is a consensus algorithm developed by Intel in 2016 to make blockchain systems faster and more energy-efficient. Instead of competing through computational power like in Proof of Work (PoW), PoET randomly assigns a wait time to each node. The node with the shortest wait time gets to add the next block. This approach cuts energy use and gives each participant an equal chance.
PoET is mainly used in permissioned or private blockchain networks, such as Hyperledger Sawtooth, where participants are known and trusted. It relies on Intel’s Software Guard Extensions (SGX) to ensure the random wait time is secure and tamper-proof.
