Proof of Work (PoW)

What is Proof of Work (PoW)?

Proof-of-Work (PoW) is a decentralized consensus that requires a community-based network to solve complex mathematical puzzles to prevent the network being sabotaged by harmful acts. There are key characteristics:

• To enhance security by preventing cyber-attacks, such as DDoS.

• To allow miners to validate a transaction block in a blockchain in a secure manner without third-party involvement.

• It is the high-energy consumption model that has high energy costs.

• The consensus will reward miners who solve mathematical problems with the goal of validating transactions and creating new blocks.