From the course: Practical Blockchain and Cryptocurrency

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Understanding blockchain proof of work (PoW)

Understanding blockchain proof of work (PoW) - Blockchain Tutorial

From the course: Practical Blockchain and Cryptocurrency

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Understanding blockchain proof of work (PoW)

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- All right, I want to talk to you about a constant called proof of work. A proof of work is a puzzle. I just want you to think of it as busy work for the computers to solve. It's a busy work that takes a lot of computational power for the computers to solve. Now, the proof of work, it should be easy to be verified by other computers. So the answer should be easy to be verified, but getting to the answer can be a little difficult. Now, what is the point of giving the computer a puzzle? Basically, when we're entering this puzzle into the blockchain, we do a couple of things. This puzzle helps us solve a couple problems with the creation of blocks. First of all, it helps us solve problems like transactional problems. It helps us solve problems like things like double spending on accounts, but it also slows down the creation of blocks in a blockchain. The reason we want to slow down creation of blocks in a blockchain is because we want to make the creation of blocks predictable. In the…

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