Proof-of-work
Proof-of-work is a protocol used to electronically verify transactions made on a distributed ledger network.[1] It is the set of rules for the process by which many cryptocurrencies (like bitcoin) are mined.[2]
Proof-of-work is described in Satoshi Nakamoto's bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System. [3] Along with transaction blocks, proof of work is one of the outputs of mining.[4] In bitcoin, the proof-of-work requires building a block of transactions and solving the hash function.[5]
References
- ↑ A (Short) Guide to Blockchain Consensus Protocols. Coindesk.
- ↑ What is Proof-of-Work?. Cointelegraph.
- ↑ Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin Organization.
- ↑ Explaining blockchain — how proof of work enables trustless consensus. Keeping Stock.
- ↑ Understanding Blockchain Fundamentals, Part 2: Proof of Work & Proof of Stake. Loom.
