Proof-of-Work (PoW)

Proof-of-work is a consensus mechanism.  Cryptocurrency relies on a consensus mechanism (how blockchains function and are trusted by their users). 

With the proof-of-work mechanism, miners (the block creators) need to buy appropriate equipment to mine, and mining involves solving a cryptographic puzzle. When a block is successfully mined, miners receive coins as rewards. 

Bitcoin and Dogecoin rely on a proof-of-work mechanism.

Cookies are used to collect information about how you interact with our website and allow us to remember you. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. To find out more about the cookies we use, see our Privacy Policy.
Accept