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New
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How does PoW? ❗️
When mentioning PoW, think of miners. PoW requires miners to solve a complex algorithm (a mathematical puzzle) to find a hash, which is a suitable result. The miner who finds the correct hash first gets their block verified and checked by nodes for accuracy. If valid, the block will be added to the blockchain.
You get what you work for. When a miner solves the puzzle, they will be rewarded with BTC or gas fees.
Because the problem is so complex, requiring significant effort and resources, solving it alone could take a lifetime. That's why collaboration is the optimal way to solve such puzzles. Miners can form a team to mine one block together, and the rewards are shared equally among everyone. From here, PoW also reveals its own pros and cons.
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