bitcoin proof of work (mining)

proof of work is one of the four ingredients that makes bitcoin work

mining is the process of adding transactions to the blockchain

proof of work is the link from the digital world to the real world. if this link wouldn’t exist, bitcoin would all be digital and there would be no way to reach consensus in a decentralized network

a node has to use a lot of computer processing power to solve a challenge. it is hard to solve, but easy to verify. when a node solves the challenge, it is allowed to add a new block containing new transactions to the blockchain

it is important that the challenge is hard to solve and needs real world energy

(don’t waste your time with proof of stake or other consensus mechanisms)

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