Proof of Work (PoW)
Proof of Work (PoW) is a blockchain protocol in which the creator of the next block is asked to do some work both difficult (processing time consuming) to produce but easy to verify. Producing a proof of work can be a random process with low probability so that a lot of trial and error is required on average before a valid proof of work is generated.
When lauched, one option to earn Steem was by mining. In the Steem official site there was a step by step instruction page: How to mine Steem (retrieved in January 17th, 2017 and not availabe when checked in March 21, 2018).[1] Mining steem was possible since before the first payouts made in July 4th, 2016 and, according to the Hard Fork 0.17 Change Proposal announced in January, 10th, 2017, being ceased with the removal of Proof of Work (PoW).[2] An article about Setting up a Miner was created here in Steem.center at that time.
References
- Jump up ↑ Steem.io : https://steem.io/documentation/how-to-mine/ Retrieved in January, 17th, 2017 and not availabe when checked in March 21, 2018
- Jump up ↑ Steem 0.17 Change Proposal Introduction. Published by @steemitblog in Steemit in January 2017
Links
- @mooncryption : Guide: Proof of Work (PoW) vs Proof of Stake (PoS) vs Delegated Proof of Stake (DPoS) September 9, 2017
- @bitcoin-journal : What Is the Difference Between Proof of Work and Proof of Stake in Cryptocurrency? March 21, 2018
Related articles
External links
- Wikipedia : Proof-of-work system Retrieved 10/1/2019.
- Bitcoin Wiki : Proof-of-work Retrieved 11/13/2019.
- Bitcoin.com : Ethereum Community Enthralled Over Controversial ProgPoW Proposal Written by Jamie Redman, published in 3/9/2020.
- Dan Larimer Medium Blog : All Blockchain Magic comes with a Price Written by Dan Larimer, published in 2/29/2020.
- The Cointelegraph : Adam Back on Satoshi Emails, Privacy Concerns and Bitcoin's Early Days Written by Cassio Gusson, published in 1/20/2020.
- Coinmonks Medium Blog : Proof-of-Work vs. Proof-of-Stake for real idiots Written by Patrick Wieth, published in 10/1/2019.
- Coinmonks Medium Blog : Blockchain Consensus And Fault Tolerance In A Nutshell Written by Demiro Massessi, published in 1/6/2019.
In other languages
- 日本語 (Japanese): プルーフ・オブ・ワーク（PoW）
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