Proof of Work (PoW)

Di CoinGecko | Aggiornato il Mar 03, 2020
An algorithm that rewards the first person that solves a computational problem (i.e. mining) to achieve distributed consensus. Miners compete to solve difficult cryptographic puzzles in order to add the next block on the blockchain. It prevents spam and cyber attacks such as DDoS as it requires work (i.e. processing time) from the service requester.

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Related Terms

Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
Turing-Complete
A "turing complete" code or blockchain refers to the ability to read program-written codes.
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
Distributed Ledger
Ledgers whose data is stored and synced across a network of nodes.
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