Tag: Proof-of-Work (PoW)

Proof-of-Work (PoW) the keystone of many blockchain variations, is a fascinating journey into the core performative processes of blockchain technology. Predominantly used in Bitcoin and other cryptocurrency systems, Proof-of-Work (PoW) is a protocol that aims to prevent cyber attacks and maintain the harmony of the blockchain system.

So, what is this mysterious Proof-of-Work? Well, essentially it is a system that puts a computational wall in front of potential cyber threats. Miners, the people (or systems) who validate transactions and add them to the blockchain, have to solve complex mathematical problems to earn this right. That problem-solving process requires a significant amount of computer processing power and time. That’s the ‘work’ part in Proof-of-Work. The more work you put in, the greater the chance of getting the right to add a new block.