Primer on Proof of Work
Proof of Work Primer

Primer on Proof of Work

By hifi.crypto | HiFi Crypto | 14 Jan 2022


Throughout history, people have worked in order to get ahead. Manual labor was required in order to hone one’s craft and produce enough income to sustain oneself and one’s family. Those who worked the hardest and most efficiently were often rewarded with financial peace and security.

Times have certainly changed and a large portion of our daily labors in today’s world are performed by machines. Vehicles take us where we need to go, phones help us communicate over long distances, and computers help us complete a variety of tasks with ease. But even though machines do the work for us, the work still has be done. No one gets ahead in life by sitting around doing nothing, at least not through honest means.

It should come as no surprise to us then that the world’s blockchain, Bitcoin, relies entirely on a consensus mechanism powered by work. Thousands of machines around the world do the work of securing the network by converting electricity into computing power. And the amount of work on the network continues to grow at an exponential pace:

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Why does work matter? Because it is one of the few things in the world that can’t be faked. No amount of wishing will help people get ahead in life. Only work will. And no amount of playing around with other consensus models will secure a blockchain. Only Proof of Work will.

More people and more machines are coming online everyday to grow and support the Bitcoin blockchain. Because I believe so strongly that everyone has a part to play, I’d like help one person bring a little more of their work and energy to the network by gifting them some Bitcoin:

Participating in this Bitcoin giveaway is easy:

  1. Follow me here on Publish0x 👆🏻

  2. Subscribe for free to my newsletter 📧👇🏻
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  3. Leave a comment on this article 🗣👇🏻
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Good luck on your Crypto journey in 2022!


Rules

(1) Winner will be announced on my Twitter and emailed directly on January 31st!

*Who can enter?

  • Bitcoin is open to all! Anyone anywhere in the world can participate as long as you follow the rules and have a valid Bitcoin address/wallet.

*Can I still enter if I’ve already subscribed to your newsletter and/or followed you on Publish0x?

  • Anyone who subscribes to my newsletter for the first time on or after December 31st is eligible to participate.

*How much Bitcoin will the winner receive?

  • USD/BTC conversion rate will be taken as of 0:00 UTC on January 31st

This giveaway is not endorsed or managed by Publish0x.

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hifi.crypto
hifi.crypto

I am an avid Bitcoin enthusiast. I publish the HiFi Crypto Letters, a twice weekly newsletter on Bitcoin, crypto and blockchain: https://thehificrypto.substack.com/p/your-crypto-one-stop-shop


HiFi Crypto
HiFi Crypto

My goal is to provide education on cryptocurrencies, blockchain, and other crypto-related topics.

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