Proof of Work (PoW)

Return to Consensus Mechanism

Developed by Satoshi Nakamoto, Proof of Work is the oldest consensus mechanism used in the Blockchain domain. It is also known as mining where the participating nodes are called miners.

In this mechanism, the miners have to solve complex mathematical puzzles using comprehensive computation power. They use different forms of mining methods, such as GPU mining, CPU mining, ASIC mining, and FPGA mining. And the one that solves the problem at the earliest gets a block as a reward.

However, the process is not that easy. A puzzle can be solved only via the trial and error method. Additionally, the level of complexity of the puzzle increases with the speed at which blocks are mined. So, it becomes mandatory for one to create a new block within a certain time frame to cope up with the difficulty level.Webpage: BHARDWAJ