Proof-of-Useful-Work is a consensus mechanism where computational effort expended by miners or validators contributes to solving real-world problems rather than solely securing the blockchain. Unlike traditional Proof-of-Work, which often involves arbitrary calculations, PoUW directs this computational power towards tasks like scientific research, data compression, or artificial intelligence training. This method aims to align network security with societal benefit. It seeks to mitigate environmental concerns associated with energy-intensive consensus.
Context
Proof-of-Useful-Work is an area of active research and development, seeking to address criticisms regarding the energy consumption of traditional proof-of-work systems. News reports sometimes feature projects experimenting with PoUW to gain an environmental advantage and attract users concerned with sustainability. The discussion centers on identifying genuinely useful computational tasks that can be reliably verified and integrated into a decentralized consensus process.
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