Proof of Work (PoW)
Also known as: PoW, Mining Consensus, Computational Proof, Nakamoto Consensus
Proof of Work (PoW) is a blockchain consensus mechanism where miners solve computational puzzles to validate transactions and add new blocks.
Proof of Work (PoW) is the original blockchain consensus mechanism used to validate transactions and secure networks like Bitcoin. In a PoW system, miners compete to solve complex cryptographic puzzles. The first to solve it gets to add the next block and earns a reward.
This method ensures network security by requiring massive computational effort, making attacks (like the 51% attack) highly costly and difficult.
While PoW offers strong security, it's often criticized for high energy consumption, leading newer projects to adopt eco-friendly alternatives like Proof of Stake (PoS).