How does the concept of proof of work (PoW) contribute to the security of blockchain technology in cryptocurrencies?

1 answers

• Seif roboticsNov 15, 2023 · 2 years ago
  Proof of work (PoW) is a fundamental concept in blockchain technology that contributes to its security. It ensures that the majority of participants in the network agree on the validity of transactions and prevents malicious actors from tampering with the blockchain's history. PoW requires miners to solve complex mathematical puzzles, which requires significant computational power. This makes it economically infeasible for an attacker to control the network and manipulate transactions. Additionally, PoW adds immutability to the blockchain by making it computationally expensive to reverse or modify past transactions. Overall, PoW plays a crucial role in maintaining the security and integrity of blockchain technology in cryptocurrencies.
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