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2. Proof of work - Wikipedia

   en.wikipedia.org/wiki/Proof_of_work

   Proof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. [1] Verifiers can subsequently confirm this expenditure with minimal effort on their part.

3. Bitcoin protocol - Wikipedia

   en.wikipedia.org/wiki/Bitcoin_protocol

   A diagram of a bitcoin transfer. The bitcoin protocol is the set of rules that govern the functioning of bitcoin.Its key components and principles are: a peer-to-peer decentralized network with no central oversight; the blockchain technology, a public ledger that records all bitcoin transactions; mining and proof of work, the process to create new bitcoins and verify transactions; and ...

4. Explainer: What common cryptocurrency terms mean - AOL

   www.aol.com/finance/explainer-common-crypto...

   Bitcoin uses a proof-of-work system, a process that consumes significant energy and resources. Smart contract Self-executing contracts with the terms of the agreement directly written into code.

5. Proof of stake - Wikipedia

   en.wikipedia.org/wiki/Proof_of_stake

   In 2021, a study by the University of London found that in general the energy consumption of the proof-of-work based Bitcoin was about a thousand times higher than that of the highest consuming proof-of-stake system that was studied even under the most favorable conditions and that most proof of stake systems cause less energy consumption in ...

6. Blockchain - Wikipedia

   en.wikipedia.org/wiki/Blockchain

   Bitcoin and other cryptocurrencies currently secure their blockchain by requiring new entries to include proof of work. To prolong the blockchain, bitcoin uses Hashcash puzzles. While Hashcash was designed in 1997 by Adam Back , the original idea was first proposed by Cynthia Dwork and Moni Naor and Eli Ponyatovski in their 1992 paper "Pricing ...

7. Hashrate - Wikipedia

   en.wikipedia.org/wiki/Hashrate

   The proof-of-work distributed computing schemes, including Bitcoin, frequently use cryptographic hashes as a proof-of-work algorithm. Hashrate is a measure of the total computational power of all participating nodes expressed in units of hash calculations per second.

8. Cryptocurrency - Wikipedia

   en.wikipedia.org/wiki/Cryptocurrency

   The most widely used proof-of-work schemes are based on SHA-256 and scrypt. [18] Some other hashing algorithms that are used for proof-of-work include CryptoNote, Blake, SHA-3, and X11. Another method is called the proof-of-stake scheme. Proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through ...

9. Ethereum’s software upgrade just went live — here’s what it does

   www.aol.com/news/ethereum-software-upgrade-just...

   Proof-of-work uses a lot of energy, and it is one of the industry’s biggest targets for critiques. But with the upgrade, ethereum has migrated to a system known as proof-of-stake, which swaps ...