Polymesh Glossary


Proof-of-work (PoW)

Proof-of-work blockchains keep nodes in the network honest by requiring them to compete to create new blocks, rewarding them for computational effort. The winner is typically whoever first completes a mathematical puzzle. Upon completion, the answer is verified and posted publicly to the chain, linking the current block to the previous block. Because of the computational power involved, PoW is heavily criticized for excessive energy consumption, as well as for perpetuating an unfair system where those who benefit most are those with more expensive computational equipment.