
PoW, what is it and why do we want PoS
Zero Knowledge
00:00
Is Proof of Work Creating Security?
The idea of mining is that you are extracting energy or electricity from the earth to create fictional value. The Bitcoin blockchain uses SHA-256 which is a hashing algorithm that's relatively easy. You can't really participate in the network security unless you are buying huge chunks of A6 chips. Which people are doing. But again, it's something that we actually want to expend effort and money on.
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