🔵About us PoW

Proof of Work (often abbreviated as PoW) is a mechanism to prevent double spending. Many of the major cryptocurrencies use PoW as their consensus algorithm. The consensus algorithm is the name given to the method used to secure the registry of cryptocurrencies.

Proof of Work is the first consensus algorithm and remains the most widely used algorithm today. It was introduced by Satoshi Nakamoto in the Bitcoin white paper in 2008, but the technology itself was created long before that.

Blockchain is a large database for everyone to see, so anyone can check if funds have already been spent.

We now have a way to track units

This is where Proof of Work comes into play. It ensures that its users do not spend funds that they do not have the right to spend. A PoW algorithm uses a combination of game theory and cryptography to allow anyone to update the blockchain within the system's rules.