What Is A Proof Of Work (PoW)?

Proof Of Work is a hash that requires significant computational power to find.

In Bitcoin, miners must find a numeric solution to the SHA-256 algorithm that meets a network-wide target, the difficulty target (10 minutes).

Other PoW algorithms:

  • Equihash (ZCash)
  • Ethash   (Ethereum)
  • Scrypt (Litecoin, etc)
  • Lyra (VertCoin)
  • X11