Proof of Work (PoW)
A cryptographic consensus algorithm where miners solve mathematical puzzles to validate transactions.
Detailed Definition
Proof of Work is the consensus mechanism utilized by Bitcoin. Network miners use specialized hardware (ASICs) to expend computational electricity solving complex cryptographic puzzles, securing the ledger against double-spending and malicious 51% attacks.
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Related in Crypto
Blockchain
A distributed, immutable digital ledger that cryptographically records transactions across a decentralized network.
Staking
Pledging cryptocurrency holdings to support a Proof-of-Stake consensus network in exchange for protocol rewards.
Bitcoin (BTC)
The world's first decentralized peer-to-peer digital currency and digital store of value.