Proof of Work (PoW): Solve computational problems to gain bookkeeping rights; consumes a lot of electricity
In the world of virtual currencies, Proof of Work (PoW) is both a “pioneer” and a “controversial figure.” As the earliest mainstream blockchain consensus mechanism, it laid the foundation for Bitcoin’s decentralized operation—letting thousands of independent nodes (miners) compete for bookkeeping rights by solving computational problems, ensuring virtual currency transactions are secure and irreversible. Yet its inherent […]