Proof of Work News

Proof-of-work is a consensus algorithm developed to protect decentralized networks from any malicious activities. The initial concept of PoW was first described in 1993. The two steps of a proof-of-work algorithm are to solve difficult and time consuming tasks and to check the results. Despite the fact those tasks can be solved, they required a large amount of computer power. The difficulty of the tasks varies in order to control the frequency of discovery of the new blocks, which can be found approximately one block in 10 minutes because of the need to synchronize all discovered blocks among the users holding the blockchain. Due to the fact that the process is energy consuming and random, it is impossible to say for sure which Bitcoin-miner will solve the task and discover the block.

Opinion
To fully merge the real and digital worlds, designing governance systems with flexibility at their core is key.
Anchoring the worlds with flexible and high-performance on-chain governance
Da Hongfei
2021-04-11T14:13:00+01:00
8138
News
Ethereum co-founder Vitalik Buterin is working to proactively solve a blockchain vulnerability.
Buterin helping to strategize against Ethereum 51% attack possibility
Benjamin Pirus
2021-03-12T22:32:49+00:00
110890
News
Ethereum appears to be hastening its transition to Proof-of-Stake, with developer Mikhail Kalinin publishing the specifications for the chain merge with Eth2.
Eth2 transition accelerates amid rumblings of a miner rebellion
Samuel Haig
2021-03-12T01:51:32+00:00
29818
Expert Take
A return to proof of work mining, a blockchain built to be fork resistant, and the chance to develop in multiple programming languages. Lessons from history — a...
Inside the blockchain developer’s mind: Koinos approaches testnet
Andrew Levine
2021-02-25T15:23:22+00:00
8217
News
Chinese GPU miners are apparently buying up Nvidia’s new GeForce RTX 30 laptops to set up ETH mining farms.
Chinese GPU miners reportedly bulk buying Nvidia laptops to mine Ether
Helen Partz
2021-02-08T17:15:00+00:00
26546
News
Bitcoin energy consumption has been at its highest historical levels since late 2020, according to Digiconomist’s Bitcoin Energy Consumption Index.
Surge in Bitcoin energy consumption sparks debate in crypto community
Helen Partz
2021-02-05T12:09:16+00:00
10485
News
The taxman still isn't wise to cryptocurrency earnings made through proof-of-stake. But that could change soon.
US Library of Congress report highlights proof-of-stake tax blindspot
Greg Thomson
2021-02-04T14:26:38+00:00
11740
Sponsored
A crypto project is bringing apps and smart contracts to Bitcoin — and offers the first consensus algorithm to span two blockchains.
Crypto project brings apps and smart contracts to Bitcoin
Connor Sephton
2021-01-14T14:08:00+00:00
6722

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