How Does Proof-of-Work Contribute to the Initial Block Creation in PoA?
In the PoA model, the PoW component is responsible for the initial mining of an empty block template. Miners expend computational power to find a hash below a target threshold.
This process provides the initial security and decentralization associated with PoW. The mined block template is then broadcast to the network.
It does not contain any transactions yet, only the header information.
Glossar
Initial Block Creation
Genesis ⎊ ⎊ Initial block creation within a cryptocurrency network represents the foundational event establishing the blockchain’s immutable record, initiating consensus mechanisms and distributing initial token allocations.
PoA
Mechanism ⎊ Proof of Authority (PoA) is a consensus mechanism where transactions are validated by a limited number of pre-approved, trusted validators rather than through competitive mining.
Computational Power
Algorithm ⎊ Computational power, within cryptocurrency, options trading, and financial derivatives, fundamentally represents the processing capacity dedicated to executing complex calculations essential for network operation and trade execution.