Listen "What is Proof of Work ?"
Episode Synopsis
Proof of Work:
Proof of Work (PoW) use lots of energy and is the most popular consensus protocol used today, and is used by both bitcoin and Ethereum. Proof of Work means that some nodes compete to try to be the first to solve a mathematical puzzle. The puzzle is to find a random value to combine with a block’s header, such that the hash of the combined data matches a pattern. Solving the puzzle is hard, but verifying the solution to the puzzle is easy. The first node to solve the puzzle receives a reward for doing the work, and gets to add the new block to the blockchain. The block, along with the value the winning node found to solve the puzzle, is sent to all nodes. Each node quickly verifies the block and then adds it to their local blockchain. Although Proof of Work is the most popular consensus protocol and works well, it takes enormous computing power to complete. That means Proof of Work requires computers to use lots of energy, which produces a lot of heat.
Proof of Work (PoW) use lots of energy and is the most popular consensus protocol used today, and is used by both bitcoin and Ethereum. Proof of Work means that some nodes compete to try to be the first to solve a mathematical puzzle. The puzzle is to find a random value to combine with a block’s header, such that the hash of the combined data matches a pattern. Solving the puzzle is hard, but verifying the solution to the puzzle is easy. The first node to solve the puzzle receives a reward for doing the work, and gets to add the new block to the blockchain. The block, along with the value the winning node found to solve the puzzle, is sent to all nodes. Each node quickly verifies the block and then adds it to their local blockchain. Although Proof of Work is the most popular consensus protocol and works well, it takes enormous computing power to complete. That means Proof of Work requires computers to use lots of energy, which produces a lot of heat.
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