Proof of Work (PoW)

243 Articles 69 Followers

Proof of work (PoW) is the original type of consensus algorithm in a blockchain network. It was first developed in 1993 as a way to prevent denial of service attacks and others on a network. However, it wasn’t until 2009 that Satoshi Nakamoto implemented PoW on Bitcoin as an innovative way to achieve consensus in a distributed network. Since then, PoW has become a widely used consensus algorithm for many cryptocurrencies.

PoW is used to validate transactions which produces new blocks and links them together to form a blockchain. In PoW, miners compete against each other to solve complex computational puzzles. When a miner successfully solves the difficult puzzle it is verified by other miners and a new block is added to the blockchain. The transactions in the new block are thus added to the network and miners get rewarded for adding new blocks to the blockchain and securing the network.

The process of proof of work secures a blockchain network and helps to protect the network against numerous different attacks. The more miners a PoW blockchain has, the more computational hash power it has, which makes the blockchain more secure. A successful attack on a PoW blockchain would require a lot of computational power and time. Therefore, attacks on highly secure PoW blockchains can be very expensive and deemed pointless. To this day, PoW is considered to be the most secure consensus algorithm because it is the most tried and tested. 

However, PoW is not without downsides. It is very energy intensive and therefore not the most efficient consensus algorithm. Also, some experts say that PoW blockchains are more difficult to scale and that newer methods such as PoS or DPoS are required to implement various scaling solutions.

In this tag you can discover proof of work (PoW) news, cryptos, opinions and analysis created by knowledgeable individuals on the matter.


BTC Hashrate to ATH Even While ETHMerge Maxis Talk Shit

13 Sep 2022 1 minute read 0 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

I am not a bitcoin maxi whatsoever. But it's important to note what is going on in this rivalry between BTC and ETH. This PoW vs PoS shit is basically a war for the soul of crypto. Bottom line: PoW represents society prioritizing financial sovereignt...

Why Bitcoin Maxis Are Selling Out

12 Sep 2022 2 minute read 0 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

Anthony Pompaliano was the first to fall (is that you spell his last name? IDGAF), followed by his sycophant Will Clemente. Your boy what's his face from Stripe sold out a long time ago when he said he was basically handing over his tech to the IMF....

Bitoreum - Exchange, ASIC Resistant, SmartNodes and more!

12 Sep 2022 2 minute read 0 comments Pluto2023

Hello Folks! Today I'll talk about a coin that is constantly growing and that will probably have pleasant surprises in the next few months.  The coin is called Bitoreum. It's PoW and algo is GhostRider. No Premine and no ICO, but there are Founders...

US Looks to Ban Bitcoin Mining Right on Time with the #ETHMerge?

11 Sep 2022 1 minute read 4 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

If I were a conspiracy theorist, I'd say this was totally planned. News from the US comes out that Congress is considering legislation to ban PoW mining at the same time Ethereum is ready to move to PoS. The United States would benefit greatly from #...

The Ethereum Merge Will Give You PoW ETH — But is it Worth Getting?

11 Sep 2022 3 minute read 3 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

When the Ethereum merge happens, it will create two blockchains — one that will just be called Ethereum and the other, PoW ETH. No, the current ETH chain won't be going anywhere. It will continue to exist. Developers can still build stuff on it if th...

Do you know MeowCoin?

9 Sep 2022 1 minute read 0 comments Pluto2023

Hi folks!     Today I'm going to talk about a recently released coin that is quite interesting whose goal is pleasing in the eyes of many people. This coin is MeowCoin. Anyone looking for a new coin for mining and with a growing community, read this...

Qogecoin - Quantum Safe Dogecoin.

8 Sep 2022 1 minute read 0 comments Pluto2023

Hello folks! Today I'll talk a little about a coin that was released last year. If you are looking for a mineable and easy to obtain coin, Qogecoin is certainly a great option. QOGE is a PoW coin, whose something is Yescryptr16 where mining with CPU...

BTC Maxis are the Most Hypocritical IDiots in Crypto

8 Sep 2022 3 minute read 8 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

All the idiotic lemmings bloviating about the #ETHMerge/PoS superiority almost makes you forget where they got their dumbass little reductionist attitude from — the BTC maxis. BTC maxis are the original horse-blinders-on full-speed ahead brick-for-br...

Ethereum’s ‘Bellatrix’ Upgrade Goes Live – Developers Explain The Spike In Missed Blocks

8 Sep 2022 1 minute read 1 comment DailyCoin

Visit DailyCoin for more articles Ethereum has successfully launched the Bellatrix Upgrade, marking the beginning of Ethereum’s transition from Proof of Work (PoW) to a Proof of Stake (PoS) model. However, there were a some hiccups along the way...

People Praying for PoS/ETH Flippening are Evil

8 Sep 2022 2 minute read 0 comments Dr. Stetson Windsor, Chairperson of Jurisprudence

I already know the first thing you're thinking. He's a bitcoin maxi. Don't make me laugh. Bitcoin maxis are the most hypocritical people on the planet. But you know what you are? A status quo maxi. A mainstream maxi. A war maxi. Bottom line: I have m...