What Is “Nakamoto Consensus” and How Does PoW Enable It?

Nakamoto Consensus is the combination of Proof-of-Work, the longest chain rule, and the difficulty adjustment mechanism that allows a decentralized network of untrusting parties to agree on a single, canonical transaction history. PoW enables it by providing a measurable, costly signal of honest effort, ensuring that the chain with the most cumulative work (the longest chain) is the one accepted as valid by the entire network.