Proof of Work (PoW) definition
Definition
Consensus mechanism requiring miners to solve complex mathematical puzzles
PoW, used by Bitcoin, ensures security through computational expense but faces criticism for environmental impact; it has proven resilient against attacks for over 16 years. Technical Details: Bitcoin Target Time: 10 minutes per block. Difficulty Adjustment: Every 2016 blocks (~2 weeks). Hash Algorithm: SHA-256 double hash. Security Analysis: 51% attack cost for Bitcoin: >$15 billion in hardware + ongoing electricity costs.
keywords