What is the purpose of proof of work in blockchain technology? 🔊
The purpose of proof of work in blockchain technology is to ensure the integrity and security of the network by requiring participants to solve complex mathematical problems as part of the consensus process. This mechanism helps prevent double-spending and secures the network against malicious attacks. By incentivizing participants, often through rewards like cryptocurrency, proof of work strengthens the reliability of the blockchain. However, it also requires significant computational resources and has raised concerns regarding energy consumption, leading to discussions about alternative consensus algorithms.
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