Proof of Work is a consensus mechanism used to validate transactions and secure a blockchain. It requires participants, known as miners, to solve complex mathematical problems. The process consumes significant computational power and energy.When a miner successfully solves a problem, they create a new block and add it to the blockchain. This block contains a list of recent transactions. The first miner to solve the problem gets rewarded with newly created coins and transaction fees from the transactions included in the block.This mechanism helps prevent fraud and ensures that only valid transactions are recorded. Because solving the problems demands considerable resources, it becomes challenging for any single entity to manipulate the system.As a result, Proof of Work contributes to the overall security and integrity of the network. However, it has been criticized for its environmental impact due to high energy consumption. Some newer systems are exploring alternative methods to achieve consensus while addressing these concerns.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to