PoW

PoW stands for proof of work, a consensus algorithm for blockchain and cryptocurrencies. The PoW algorithm requires participants in the network (also known as miners) to prove their contribution to the network by solving complex mathematical problems in order to be rewarded with crypto. In PoW, miners will have to keep trying to compute hash values with a particular algorithm to find a special value that satisfies certain conditions, a process known as “mining”. This special value is called “proof of work” because it proves that the miner has devoted a lot of computational efforts to solving the problem.