Arbeitsnachweis

Proof of Work (PoW) lets one party proof the execution of an algorithm to another party. In the Bitcoin PoW system, miners proof the validity of the transaction in a block. This way, the PoW consensus algorithm solves the ‘double-spending problem’ making it impossible for one party to create new Bitcoin without the agreement of the other participants. The work, in this case, uses electricity to solve these complicated algorithms. Check more Hier.