What Is the PoW Mechanism Called “Hashing”?
Hashing in Proof-of-Work (PoW) is the process of using a cryptographic hash function to convert input data (the block header) into a fixed-size string of characters, the hash. Miners repeatedly change a variable in the block header (the nonce) and re-hash the data until they find a hash that meets a specific target difficulty (i.e. starts with a certain number of zeros).
This trial-and-error process is the "work" that secures the chain.
Glossar
Hashing
Cryptography ⎊ Hashing functions are foundational to the security of cryptocurrency systems, providing a deterministic transformation of input data into a fixed-size output, crucial for block creation and transaction verification.
PoW Mechanism
Consensus ⎊ Proof-of-Work mechanisms establish distributed consensus regarding the state of a blockchain, fundamentally altering trust models within financial systems.