Proof of Work in Blockchain | 10% for @tron-fan-club

Proof of Work named PoW in short is a consensus algorithm that underpins many blockchain networks for example Bitcoin, Ethereum, and many. It is a mechanism used to validate transactions and add them to the blockchain. PoW requires computational work to be done before a transaction can be added to the blockchain. So that it can ensure the transaction is valid and not fraudulent. A network of computers or nodes work together to validate transactions. These nodes compete to solve complex mathematical problems, with the first node to solve the problem receiving a reward in the form of cryptocurrency. This process is known as mining. Those nodes are known as miners.

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The mathematical problem that miners are required to solve is called a hash function. A hash function takes an input of any size and produces a fixed-size output. The output is unique to the input and any small change to the input will produce a completely different output. The hash function used in PoW systems is deliberately designed to be difficult to solve. As it requires a significant amount of computational work. A miner must guess the input to the hash function that produces an output with a specific number of leading zeros. The number of zeros required is known as the difficulty. Therefore it is adjusted automatically by the network to ensure that blocks are mined at a consistent rate. The miner who finds the correct input first can broadcast the block to the network and receive the block reward. This reward is usually a fixed amount of crypto.

PoW is an effective way of preventing fraud in a blockchain network because it is computationally expensive to produce a fraudulent transaction. An attacker would need to have control of the majority of the network's computing power like more than 50%. This is because the network will only accept the longest chain of blocks. Attacker would need to mine blocks faster than the rest of the network to create a longer chain.that is really difficult. So attact possibility is very thin. This is the leading system.starts with Bitcoin but still it has significant disadvantage like energy consumption. Mining a block requires a significant amount of computational power which translates to a large amount of electricity consumption. This has led to concerns about the environmental impact of blockchain networks because they require a significant amount of energy to operate. For this drawback, now a days there are many more algorithom is in existance like Proof of Stake (PoS).