Proof of Work (PoW) is a consensus mechanism used to validate transactions and secure a blockchain. It requires participants, called miners, to solve complex mathematical problems. This process demands significant computational power and energy.When miners successfully solve a problem, they create a new block of transactions that gets added to the blockchain. In return, they are rewarded with a predetermined amount of cryptocurrency. This not only incentivizes miners to participate but also ensures the integrity of the network.PoW helps prevent various types of attacks, such as double-spending, by making it expensive and time-consuming to alter transaction history. As a result, it increases trust in the system. However, this method has faced criticism for its high energy consumption and environmental impact, prompting discussions about alternative consensus mechanisms like Proof of Stake (PoS).
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