Proof of Work - The Proof of the Work System

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

With proof of work, an unlimited number of people around the world can actively co operate on network without knowing each other or having to trust each other. Here's alex pruden, chief strategy officer of crypto privacy company aleo systems, explaining how this system actually works. The reward for these network validators or verifiers, or miners, is a few bit coin freshly created by the network, cryptographically predictable.

In this special “innovation overview” episode from April 2021, the a16z crypto team and other experts take you from the ground up of crypto and web3 — from the basics, to more recent developments, and beyond – through the lens of an oral essay with brief segments on what crypto is, how it really works, and where it’s going.

We chose this particular archive episode this week in honor of a new show that just launched: web3 with a16z. Hosted by Sonal Choksi, the previous showrunner of the a16z podcast network and longtime host of this show, and featuring the team at a16z crypto as well as leading scientists and makers in the space, this show is about the next generation of the internet, how builders and users now have the ability to "own" (web3) pieces of the internet, unlocking a new wave of creativity and entrepreneurship. The first two episodes are out this week, so check out and subscribe to “web3 with a16z” wherever you get your podcasts.