Proof of work

How it is used

Usually shortened to PoW, with a small o. Used when comparing blockchains: a proof-of-work chain, PoW mining, the energy use of proof of work. Write it with hyphens when it comes before a noun.

Example sentences

1. Proof of work secures the network by making it expensive to rewrite past blocks.

2. The report compares the energy use of proof-of-work and proof-of-stake networks.

Common collocations

• proof-of-work chain
• PoW mining
• switch from proof of work
• proof-of-work algorithm

Related terms

• proof of stakeA consensus mechanism in which validators lock up coins as a stake to win the right to propose and confirm blocks. Those who break the rules can lose part of their stake. It uses far less energy than proof of work.
• miningThe process in proof-of-work blockchains where computers compete to solve a difficult puzzle. The winner adds the next block and receives newly created coins and fees as a reward.
• consensus mechanismThe set of rules that lets the computers in a blockchain agree on which transactions are valid and in what order, without trusting a central authority. Proof of work and proof of stake are the best-known types.
• hash rateThe total computing power that miners use to secure a proof-of-work network, measured in hashes per second. A higher hash rate makes the network harder to attack.
• BitcoinThe first cryptocurrency, launched in 2009 by an unknown person or group using the name Satoshi Nakamoto. It runs on its own proof-of-work blockchain and has a maximum supply of 21 million coins.

More terms: Consensus, Mining & Staking

• miner
• validator
• staking
• halving
• block reward