Proof-of-Work (PoW)

Proof-of-Work (PoW) is a mechanism used in blockchain networks to secure cryptocurrency ledger.

Proof-of-Work (PoW) algorithm in blockchain confirm transactions and mint new currencies for which miners compete against each other to get rewarded based on the computational effort they have expended. PoW has formed the basis for many cryptocurrencies and is one of the best fault-tolerant systems for blockchain.