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What Is ‘Proof of Work’ and Why Is It Used?

Puzzle $checkmark$. Double-spend $times$. $uparrow$ Energy Cost.
Greeks.Live18.11.25

What Is ‘Proof of Work’ and Why Is It Used?

Proof of Work (PoW) is a consensus mechanism where miners compete to solve a complex computational puzzle to validate transactions and create a new block. It is used to secure the network against attacks, specifically the "double-spending" problem, by making it extremely costly and energy-intensive to maliciously alter the blockchain.

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