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What is Proof of work (PoW) ?
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[QUOTE="Yugocean, post: 133669, member: 25081"] [JUSTIFY][SIZE=5]A Proof of Work (PoW) algorithm is a decentralized mechanism that requires solving a complex mathematical puzzle in any system of a network, this is also an ability of manipulation. [B]Mining [/B]- Creating a cryptocurrencies under Proof of Work is called mining, it requires a huge amount of energy and hardware controls. The complexity is adjusted from time to time so that the result is consistent with the mining time. [B]Transaction [/B]- This is a form of zero-knowledge proof in which one party (the provider) sends the proof to the other party (the verifier) of having spent a certain amount of a specific computational effort. Verifiers can verify this expenditure with minimal effort on their part. It was first used by Satoshi Nakamoto in a bitcoin transaction with computer engineer Hal Finney.[/SIZE][/JUSTIFY] [SIZE=5]Some better examples of Proof-of-Work cryptos other than Bitcoin are -[/SIZE] [URL='https://www.trendri.com/threads/what-is-dash-dash-the-cryptocurrency-status.59094/']Dash (DASH)[/URL] , [URL='https://www.trendri.com/threads/litecoin-ltc-the-cryptocurrency-status.58127/']Litecoin (LTC)[/URL] , [URL='https://www.trendri.com/threads/monero-xmr-the-cryptocurrency-status.58015/']Monero (XMR)[/URL] , [URL='https://www.trendri.com/threads/dogecoin-doge-the-cryptocurrency-status.57759/']Dogecoin (DOGE)[/URL] , [URL='https://www.trendri.com/threads/what-is-bitcoin-cash-bch-the-cryptocurrency-status.59296/']Bitcoin Cash (BCH)[/URL] , [URL='https://www.trendri.com/threads/what-is-bitcoin-sv-bsv-the-cryptocurrency-status.59602/']Bitcoin SV (BSV)[/URL] , [URL='https://www.trendri.com/threads/what-is-zcash-zec-the-cryptocurrency-status.59294/']ZCash (ZEC)[/URL] , [URL='https://www.trendri.com/threads/what-is-verge-xvg-the-cryptocurrency-status.59178/']Verge (XVG)[/URL] , [URL='https://www.trendri.com/threads/what-is-vertcoin-vtc-the-cryptocurrency-status.59286/']Vertcoin (VTC)[/URL] [/QUOTE]
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