Connect with us

Proof-of-Work in Cryptocurrency

Crypto gist

Proof-of-Work in Cryptocurrency

Evidence of the paper is also known as PoW. All blocks in a Bitcoin blockchain contain certain data called nonces, which are strings of data attached to each block in a Bitcoin blockchain.

Mining platforms / computers must look for what is incorrect and, without a simple way to find the incorrect one, random calculations are used until the mining platform calculates the correct data chain.

Therefore, it is difficult to produce proof of work, although it is easy to verify that the presentation of proof of work is a random process, which requires mining platforms to calculate as many calculations per second as possible to increase the likelihood of producing evidence. for work. .

Therefore, hash speed / hash power are important issues when it comes to the ability of a mining team to provide a reasonable return on investment.

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Crypto gist

To Top