Login All news Marketcap Crypto Glossary Exchange Crypto meme
2020 ADV Europe, s.r.o. All Rights Reserved.
Back to all glossary

PoW

Proof Of Work. Before any transaction is recorded in the blockchain, consensus needs to be reached by the involved parties ... this can be done in a few ways, one of them is called POW.

Currencies that rely on the POW consensus need miners who dedicate their computing power to solve complicated mathematical operations. Every block of the blockchain requires certain amount of shares to be found/solved, before it get's completed. Once it's completed, miner who found the last share get's a reward ... this keeps miners interested.

So, the mining devices have to do something in order to complete the blocks ... they have to WORK for it ... that's why this consensus mechanism is called Proof of WORK.


Top Gainer24h
Melon
$4,5956
34,35
Top Looser24h
bitUSD
$0,852
-87,39
Crypto Glossary
Dapp
Decentralized Application. This refers to an application that uses an Ether…
This is gentlemen
“This is it, gentlemen”. Used to point out positive things that are current…
Finney, Szabo
More somewhat common denominations of ether. The full denomination chart: h…
Great. First of all, please join us!
To customize your feed you must log in first. Allthecryptonews is a community to share and geek out about the latest news in cryptocurencie, ICO’s and so on. Join us.
We'll never post to any of your accounts without your permission.