Proof of Work (PoW)

The Proof-of-Work (PoW) consensus algorithm successfully came to life with the introduction of Bitcoin in 2009. It is the algorithm that is used to confirm transactions and the creation of new blocks in a blockchain. Specialised devices, computers or graphic cards can be used to do calculations. In PoW a new block is created or found by solving a mathematical puzzle. The process of trying to solve that puzzle is called mining. The miners are working hard and usually consuming a lot of energy to

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