Proof-of-Work (PoW) is a consensus algorithm that requires participants, known as miners, to solve complex computational puzzles to validate transactions and add new blocks to a blockchain. The difficulty of these puzzles necessitates significant computational power and energy expenditure, serving as a deterrent against malicious activity. Successful miners are rewarded with newly created cryptocurrency and transaction fees, securing the network through economic incentives tied to computational effort. It is a foundational mechanism for many prominent cryptocurrencies.
Context
Proof-of-Work remains a subject of intense discussion, particularly concerning its environmental impact and energy consumption. News cycles frequently report on the energy usage of major PoW networks like Bitcoin, sparking debates about sustainability and the viability of alternative consensus mechanisms. Discussions also address the security guarantees offered by PoW, its resistance to certain types of attacks, and the ongoing evolution of mining hardware and strategies.
Proof of Quantum Work leverages quantum supremacy to secure the ledger, solving classical PoW's energy crisis and quantum-proofing the consensus layer.
This research introduces Zero-Knowledge Proof of Training, a zk-SNARK-based consensus mechanism that validates machine learning contributions without compromising participant data privacy, enabling secure, scalable decentralized AI.
ZKPoT consensus leverages zk-SNARKs to cryptographically verify model performance in Federated Learning, eliminating privacy trade-offs and scaling decentralized AI.
A new protocol anchors Proof-of-Stake history to Bitcoin's Proof-of-Work, providing an external trust source to cryptoeconomically secure PoS against long-range attacks.
This research systematically compares the formal security properties of Proof-of-Work and Proof-of-Stake, clarifying their inherent guarantees and trade-offs.
This analysis dissects blockchain consensus, revealing inherent trade-offs in security, scalability, and decentralization, driving innovation in adaptive protocol design.
This systematic review formally compares PoW and PoS security properties, revealing PoW's stronger guarantees and PoS's reliance on hybrid designs for comparable safety.
Monero's RandomX implementation, designed for accessibility, inadvertently exposes the network to potential 51% attacks, risking chain reorganizations and undermining transactional finality.
A consensus-level vulnerability in Monero's proof-of-work mechanism enabled an 18-block reorg, exposing users to potential double-spending risks and undermining transaction finality.
Boundless activates its mainnet, introducing Proof of Verifiable Work to redefine blockchain scalability by incentivizing verifiable computation, fostering a new primitive for cross-chain application development.
Boundless launches its mainnet, establishing a universal verifiable compute protocol to unlock internet-scale blockchain capabilities through novel ZK economics.
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