Blockchain: Proof of Work Explained

By Roman Kondratiev Tl;dr Summary Proof of work (PoW) currently empowers over 58% of all cryptocurrencies, making it the most popular and reliable consensus mechanism in the blockchain world. By validating on-chain transactions, miners ensure the blockchain‚Äôs security (preventing malicious activity), decentralization (not a single entity controls the verification process), and transparency (everyone has access …