Tag: Proof of Work
Proof of Work (PoW)
Blockchains utilize Proof of Work, a consensus mechanism, to validate transactions before they are added to the blockchain. Traditional databases store all transaction data in one place. Blockchains can be accessed by anyone and aren’t centralized. Using Proof-of-Work, the blockchain can become everyone’s agreed-upon source of truth. Proof of Work is the consensus mechanism used…
