Proof of Work
Proof of work is a system where computers solve puzzles to secure the blockchain, validate and record transactions.
Quick Reference:
High Energy Consumption. Rewards Miners. Strong Security. Expensive.
Expanded Explanation:
In PoW, moners compete to solve complex problems, and the winners adds the next block of transactions to the blockchain. This process is secure because it requires significant computing power and electricity, making it hard for attackers to take over the network. Bitcoin is best known Proof of Work cryptocurrency. While considered highly secure, critics argue that PoW consumes too much energy compared to newer systems.