{"id":13147,"date":"2024-03-16T09:31:26","date_gmt":"2024-03-16T06:01:26","guid":{"rendered":"https:\/\/farhadsalimi.com\/proof-of-work-algorithm-and-how-pow-works\/"},"modified":"2024-07-17T15:15:24","modified_gmt":"2024-07-17T11:45:24","slug":"proof-of-work-algorithm-and-how-pow-works","status":"publish","type":"post","link":"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/","title":{"rendered":"Proof of Work algorithm and how POW works"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#The_concept_of_consensus_algorithm\" >The concept of consensus algorithm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#What_is_Proof_of_Work_Algorithm\" >What is Proof of Work Algorithm?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#How_the_proof-of-work_consensus_algorithm_works\" >How the proof-of-work consensus algorithm works<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Miners_in_the_process_of_proof_of_work_pow\" >Miners in the process of proof of work pow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#The_importance_of_Proof_of_Work_algorithm\" >The importance of Proof of Work algorithm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Proof_of_work_algorithm_security\" >Proof of work algorithm security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Comparison_of_pow_proof_of_work_algorithm_with_pos_proof_of_stake_algorithm\" >Comparison of pow proof of work algorithm with pos proof of stake algorithm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Advantages_of_Proof_of_Work_Consensus_Algorithm\" >Advantages of Proof of Work Consensus Algorithm<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Prevent_hacker_attacks_and_double_spending\" >Prevent hacker attacks and double spending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#The_possibility_of_extracting_cryptocurrencies\" >The possibility of extracting cryptocurrencies<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Disadvantages_of_the_pow_proof-of-work_algorithm\" >Disadvantages of the pow proof-of-work algorithm<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#High_power_consumption\" >High power consumption<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#51_attacks\" >51% attacks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Centralization_of_mining\" >Centralization of mining<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/farhadsalimi.com\/en\/proof-of-work-algorithm-and-how-pow-works\/#Digital_currencies_based_on_Proof_of_Work\" >Digital currencies based on Proof of Work<\/a><\/li><\/ul><\/nav><\/div>\n\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"13147\" class=\"elementor elementor-13147 elementor-9386\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1aba667 e-flex e-con-boxed e-con e-parent\" data-id=\"1aba667\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d9f97b7 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"d9f97b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-1024x512.jpg\" class=\"attachment-large size-large wp-image-12485\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-Proof-of-Work.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3bf8394 e-flex e-con-boxed e-con e-parent\" data-id=\"3bf8394\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d034d73 elementor-widget elementor-widget-text-editor\" data-id=\"d034d73\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">Proof of Work algorithm is a smart solution to prevent double spending and hacker attacks. Proof of work plays an important role in blockchain and most cryptocurrencies use it as their platform&#8217;s consensus algorithm.<\/p>\n<p style=\"text-align: justify;\">The proof-of-work consensus algorithm has played an important role in the history of the world of cryptocurrencies as the first method for validating transactions on the blockchain platform. As you know, an important part of the initial vision of the world of cryptocurrencies was decentralization, and to make it happen, a method for confirming transactions without the involvement of financial institutions had to be created. The first solution to solve this challenge was to use pow&#8217;s proof of work algorithm.<\/p>\n<p style=\"text-align: justify;\">Proof of work was created to prevent double spending in the blockchain network. Most major cryptocurrencies such as Bitcoin, Dogecoin, Litecoin, Shiba Inu, Bitcoin Cash, ZCash, Monero, etc. are based on the Proof of Work (PoW) consensus algorithm.<\/p>\n<p style=\"text-align: justify;\">Also, the current algorithm of Ethereum for consensus is also the proof of work of pow; Of course, Ethereum blockchain is transitioning from Proof of Work to Proof of Stake or POS algorithm in Ethereum 2.0 update. The Proof of Work algorithm is actually a method to secure the ledger of a cryptocurrency, which I will discuss more in the rest of this article.  <\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8bd196d e-flex e-con-boxed e-con e-parent\" data-id=\"8bd196d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0bdcc11 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"0bdcc11\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-1024x512.jpg\" class=\"attachment-large size-large wp-image-12487\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0641\u0647\u0648\u0645-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-33b93ba e-flex e-con-boxed e-con e-parent\" data-id=\"33b93ba\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-06e58f9 elementor-widget elementor-widget-text-editor\" data-id=\"06e58f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"The_concept_of_consensus_algorithm\"><\/span>The concept of consensus algorithm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Consensus mechanism means a kind of risk-resistant mechanism. In blockchains and computer systems, a consensus mechanism is used on a data value in order to reach the necessary agreement. Digital currencies will not be able to continue operating without the network consensus algorithm and will stop. This algorithm is actually a set of decision-making rules about the legitimacy of network users to register and confirm transactions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Proof_of_Work_Algorithm\"><\/span>What is Proof of Work Algorithm?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Before discussing how the Proof of Work (PoW) consensus algorithm works in the blockchain, I am going to first discuss the concept of proof of work. The Proof of Work algorithm was first introduced in 2008 by Satoshi Nakamoto in the Bitcoin White Paper. Bitcoin and most digital currencies have used this proof of work in their blockchain.<\/p>\n<p style=\"text-align: justify;\">Proof of work is introduced as one of the algorithms or consensus mechanisms in blockchain, which is used to confirm transactions, maintain blockchain security, and generate blocks. This algorithm is actually a mechanism used by computers and blockchain network systems to confirm the value of a part of the data. In proof of work, miners receive a reward for doing network processing work.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-18eb643 e-flex e-con-boxed e-con e-parent\" data-id=\"18eb643\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-da8e6d1 elementor-widget elementor-widget-text-editor\" data-id=\"da8e6d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Read more: <a style=\"color: #000000;\" title=\"How can blockchain security be increased?\" href=\"https:\/\/farhadsalimi.com\/en\/how-can-blockchain-security-be-increased\/\">How can blockchain security be increased?<\/a><br \/><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e279712 e-flex e-con-boxed e-con e-parent\" data-id=\"e279712\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ebf4c4a elementor-widget elementor-widget-text-editor\" data-id=\"ebf4c4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">In a statement, it can be said that this technology has existed for years and Nakamoto used it for the first time in order to create a peer-to-peer (P2P) payment system. POW proof of work allows the decentralized network to reach consensus, which prevents users from spending coins twice. Another application is the proof-of-work consensus algorithm in maintaining cryptocurrency reports. To better understand the concept of proof-of-work consensus algorithm, consider Bitcoin mining;  <\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-885294b e-flex e-con-boxed e-con e-parent\" data-id=\"885294b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a938ae3 elementor-widget elementor-widget-text-editor\" data-id=\"a938ae3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Read more: <a style=\"color: #000000;\" title=\"Bitcoin mining and the advantages and disadvantages of Bitcoin mining\" href=\"https:\/\/farhadsalimi.com\/en\/bitcoin-mining-and-the-advantages-and-disadvantages-of-bitcoin-mining\/\">Bitcoin mining and advantages and disadvantages of Bitcoin mining<\/a><br \/><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1d90557 e-flex e-con-boxed e-con e-parent\" data-id=\"1d90557\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e0b4d47 elementor-widget elementor-widget-text-editor\" data-id=\"e0b4d47\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">In this mining, complex computer processes are performed by miners, which is a kind of dice throwing or lottery, which is called proof of work or PoW. Energy consumption by blockchain in this activity helps maintain the health of the nodes used in the network.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fc452b e-flex e-con-boxed e-con e-parent\" data-id=\"6fc452b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd8f96c elementor-widget elementor-widget-text-editor\" data-id=\"dd8f96c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Read more: <a style=\"color: #000000;\" title=\"Is blockchain energy consumption high?\" href=\"https:\/\/farhadsalimi.com\/en\/is-blockchain-energy-consumption-high\/\">Is blockchain energy consumption high?<\/a><br \/><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-698f33d e-flex e-con-boxed e-con e-parent\" data-id=\"698f33d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4ce858d elementor-widget elementor-widget-text-editor\" data-id=\"4ce858d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">POS algorithm or POS proof of stake is another consensus algorithm that was created to replace proof of work in the blockchain. For example, Ethereum&#8217;s current algorithm for consensus is based on proof-of-work pow;<\/p>\n<p style=\"text-align: justify;\">But the blockchain of this currency is transitioning from proof of work to proof of stake algorithm in Ethereum 2.0 update.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-36ce2c4 e-flex e-con-boxed e-con e-parent\" data-id=\"36ce2c4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d87c984 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"d87c984\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1024x512.jpg\" class=\"attachment-large size-large wp-image-12489\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0646\u062d\u0648\u0647-\u0639\u0645\u0644\u06a9\u0631\u062f-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062c\u0645\u0627\u0639-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1b7084d e-flex e-con-boxed e-con e-parent\" data-id=\"1b7084d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-95a4f82 elementor-widget elementor-widget-text-editor\" data-id=\"95a4f82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"How_the_proof-of-work_consensus_algorithm_works\"><\/span>How the proof-of-work consensus algorithm works<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">In the proof-of-work algorithm or PoW, miners in mining, which is a kind of lottery using a multi-million-sided virtual dice to produce a specific hash. When miners achieve the desired hash in the pow proof-of-work lottery using this digital method on the computer, they will be allowed to add a block to the cryptocurrency ledger.<\/p>\n<p style=\"text-align: justify;\">The larger the size of the blockchain network, the harder it is to win the pow proof-of-work algorithm lottery. Proof of Work is actually an important part of finding new blocks and adding them to the blockchain network. New blocks are mined by active miners in the proof-of-work algorithm. Finding a block by a miner requires the use of a computer and expensive equipment.<\/p>\n<p style=\"text-align: justify;\">The goal of miners is to create a hash that matches the current purpose of Bitcoin. In fact, miners must create a hash with enough zeros against the hash. The probability of getting multiple zeros in a row is very low, but many miners around the world generate trillions of hashes every second. Mining each new block in a blockchain like Bitcoin takes approximately 10 minutes. Any method that achieves this goal earlier than others will receive a certain amount of BTC as a reward. In the following, miners compete again to find a new block.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7f3d230 e-flex e-con-boxed e-con e-parent\" data-id=\"7f3d230\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-853e8c4 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"853e8c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-1024x512.jpg\" class=\"attachment-large size-large wp-image-12491\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0627\u06cc\u0646\u0631\u0647\u0627-\u062f\u0631-\u0641\u0631\u0627\u06cc\u0646\u062f-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-eb665aa e-flex e-con-boxed e-con e-parent\" data-id=\"eb665aa\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3a438b9 elementor-widget elementor-widget-text-editor\" data-id=\"3a438b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Miners_in_the_process_of_proof_of_work_pow\"><\/span>Miners in the process of proof of work pow<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Miners are people who compete to produce a new block and grant it to the network. The winning miner will be awarded a certain amount of tokens as a reward to motivate him to continue working and be honest in his work. The reward for extracting each block in a blockchain like Bitcoin is equal to 12.5 in addition to the transaction fee, which is halved every 4 years during the Bitcoin halving event.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4703b09 e-flex e-con-boxed e-con e-parent\" data-id=\"4703b09\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d966ecc elementor-widget elementor-widget-text-editor\" data-id=\"d966ecc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Read more:<a style=\"color: #000000;\" title=\"Bitcoin halving\" href=\"https:\/\/farhadsalimi.com\/en\/what-is-bitcoin-halving-halving-effect-on-bitcoin-price\/\">What is bitcoin halving? Halving effect on Bitcoin price<\/a><br \/><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cfb3865 e-flex e-con-boxed e-con e-parent\" data-id=\"cfb3865\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b40fa0c elementor-widget elementor-widget-text-editor\" data-id=\"b40fa0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">To participate in the mining process, miners need expensive hardware equipment that can achieve a new block with continuous efforts and high energy consumption.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_importance_of_Proof_of_Work_algorithm\"><\/span>The importance of Proof of Work algorithm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">One of the big challenges of Bitcoin as the first cryptocurrency in the world of cryptocurrencies was how to figure out that someone is not using it for multiple purposes. In order to solve this problem, <a title=\"Satoshi Nakamoto\" href=\"https:\/\/fa.wikipedia.org\/wiki\/%D8%B3%D8%A7%D8%AA%D9%88%D8%B4%DB%8C_%D9%86%D8%A7%DA%A9%D8%A7%D9%85%D9%88%D8%AA%D9%88\" target=\"_blank\" rel=\"noopener\">Satoshi Nakamoto<\/a> , the creator of Bitcoin, has published an introduction white paper, in which he showed with a specific protocol how to perform cryptocurrency exchanges without the intervention of a third party and at the same time maintain the security of the network.  <\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2da7231 e-flex e-con-boxed e-con e-parent\" data-id=\"2da7231\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dee875c elementor-widget elementor-widget-text-editor\" data-id=\"dee875c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Read more: <a style=\"color: #000000;\" title=\"Digital currency white paper and application of digital currency white paper\" href=\"https:\/\/farhadsalimi.com\/en\/digital-currency-white-paper-and-application-of-digital-currency-white-paper\/\">Digital Currency White Paper and Application of Digital Currency White Paper<\/a><br \/><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a029c46 e-flex e-con-boxed e-con e-parent\" data-id=\"a029c46\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e27b53b elementor-widget elementor-widget-text-editor\" data-id=\"e27b53b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">This issue, that is, spending dollars, made Nakamoto look for Proof of Work. Cryptocurrency as an information data faced the problem of how to design it in such a way that it is not possible to create and use its copy. This problem was solved by Nakamoto by the proof-of-work algorithm, which was a kind of lottery using a multi-million-sided virtual dice.<\/p>\n<p style=\"text-align: justify;\">Based on the proof-of-work algorithm, the double use of a digital currency was solved by encouraging miners to validate their exchanges before registering the currency in the blockchain. On the other hand, the proof-of-work algorithm created a kind of competitive environment among the developers of the crypto market, in which each person is trying to act in the best way and because they do not abuse it, based on the received protocol and keep the blockchain at a safe and appropriate level. put<\/p>\n<p style=\"text-align: justify;\">It should be noted that the proof-of-work algorithm in the blockchain can prevent any disruption in the Bitcoin network. These cases have made it possible to consider Proof of Work as one of the most important consensus algorithms, an optimal way to solve the problems faced by cryptocurrencies.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8b66d20 e-flex e-con-boxed e-con e-parent\" data-id=\"8b66d20\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3383efc elementor-invisible elementor-widget elementor-widget-image\" data-id=\"3383efc\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1024x512.jpg\" class=\"attachment-large size-large wp-image-12493\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u0646\u06cc\u062a-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-44d452b e-flex e-con-boxed e-con e-parent\" data-id=\"44d452b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f708120 elementor-widget elementor-widget-text-editor\" data-id=\"f708120\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Proof_of_work_algorithm_security\"><\/span>Proof of work algorithm security<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Manipulating the data of a block will change the hash value and destroy its validity. Thus, if a person decides to change the data of a block, he must re-extract the hash of all network blocks. Miners in the network are active in a decentralized manner and it is not possible to create two valid blocks at the same time.<\/p>\n<p style=\"text-align: justify;\">The wider the blockchain network and the larger the number of users, the more likely the attack will be 51% lower; Because it is impossible to achieve the necessary hash power. The difficulty of mining in the Bitcoin network is set in such a way that the hash calculation time of each new block takes approximately 10 minutes.<\/p>\n<p style=\"text-align: justify;\">If you have enough hash rate, this work makes it very difficult to manipulate the data by prolonging the time to calculate the new hash value of all network blocks. Bitcoin is the only network that has a 51% probability of being attacked because of the $1.5 million attack cost per hour.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f8b3500 e-flex e-con-boxed e-con e-parent\" data-id=\"f8b3500\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-da5320a elementor-invisible elementor-widget elementor-widget-image\" data-id=\"da5320a\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-1024x512.jpg\" class=\"attachment-large size-large wp-image-12495\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0645\u0642\u0627\u06cc\u0633\u0647-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u06a9\u0627\u0631-pow-\u0628\u0627-\u0627\u0644\u06af\u0648\u0631\u06cc\u062a\u0645-\u0627\u062b\u0628\u0627\u062a-\u0633\u0647\u0627\u0645pos.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3334d5d e-flex e-con-boxed e-con e-parent\" data-id=\"3334d5d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f215992 elementor-widget elementor-widget-text-editor\" data-id=\"f215992\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Comparison_of_pow_proof_of_work_algorithm_with_pos_proof_of_stake_algorithm\"><\/span>Comparison of pow proof of work algorithm with pos proof of stake algorithm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Maybe you have come across the question after reading the above material related to the proof of work consensus algorithm in the blockchain, what is the Proof of Stake algorithm?<\/p>\n<p style=\"text-align: justify;\">In response, I must say that the POS proof-of-stake algorithm is a new solution to solve the problems of the POW proof-of-work consensus mechanism, which was proposed in 2011 on the Bitcointalk forum. Both models have the possibility to confirm received transactions and add them to a blockchain.<\/p>\n<p style=\"text-align: justify;\">By the pos algorithm, the members of a network are called validator instead of the term miner. One of the differences between the proof of work algorithm and the POS algorithm is that validators lock certain amounts of their digital currency in a smart contract on the blockchain network.<\/p>\n<p style=\"text-align: justify;\">Proof-of-stake mechanism as a validator eliminates the need for expensive equipment and high power consumption by facilitating people&#8217;s participation in blockchain systems. In fact, in this mechanism, the number of manners coins is an influential factor in choosing them as the chosen miner.<\/p>\n<p style=\"text-align: justify;\">The first person to win the lottery in the proof-of-work algorithm will receive a reward. But in the POS algorithm, all the crypto currency units are already extracted and their number does not change. In fact, the competition between miners in Proof of Work is not seen in this mechanism, and miners definitely receive a share in exchange for assets invested in the network.<\/p>\n<p style=\"text-align: justify;\">Another major difference between Proof of Work and Stake is the payment of rewards and how the network governs to confirm transactions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Advantages_of_Proof_of_Work_Consensus_Algorithm\"><\/span>Advantages of Proof of Work Consensus Algorithm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">The Proof of Work algorithm has many advantages that have led most digital currencies to use it. Next, I will discuss the benefits of the Proof of Work (PoW) algorithm:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7096c9a e-flex e-con-boxed e-con e-parent\" data-id=\"7096c9a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-25f9aac e-con-full e-flex e-con e-child\" data-id=\"25f9aac\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-552ba61 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"552ba61\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/farhadsalimi.com\/en\/fundamental-analysis-or-fundamental-analysis\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-1024x512.jpg\" class=\"attachment-large size-large wp-image-12497\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u062c\u0644\u0648\u06af\u06cc\u0631\u06cc-\u0627\u0632-\u062d\u0645\u0644\u0627\u062a-\u0647\u06a9\u0631\u0647\u0627-\u0648-\u062f\u0648-\u0628\u0627\u0631-\u062e\u0631\u062c-\u06a9\u0631\u062f\u0646.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5cbc4e elementor-widget elementor-widget-text-editor\" data-id=\"c5cbc4e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Prevent_hacker_attacks_and_double_spending\"><\/span>Prevent hacker attacks and double spending<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">As mentioned above, the proof-of-work algorithm is a smart way to avoid double spending and hacker attacks. In this method, miners provide inputs to the device and these inputs are converted into suitable outputs called hash codes by the device based on its processing power. The hash codes of each block are unique and no transaction is similar to another transaction, and therefore hacking digital currencies based on the consensus algorithm of proof of work is a difficult method.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9347400 e-con-full e-flex e-con e-child\" data-id=\"9347400\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8a1739b elementor-invisible elementor-widget elementor-widget-image\" data-id=\"8a1739b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/farhadsalimi.com\/en\/technical-analysis-and-full-training-technical-analysis\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-1024x512.jpg\" class=\"attachment-large size-large wp-image-12499\" alt=\"\" srcset=\"https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-1024x512.jpg 1024w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-300x150.jpg 300w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-768x384.jpg 768w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-1000x500.jpg 1000w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627-670x335.jpg 670w, https:\/\/farhadsalimi.com\/wp-content\/uploads\/2024\/03\/\u0627\u0645\u06a9\u0627\u0646-\u0627\u0633\u062a\u062e\u0631\u0627\u062c-\u0631\u0645\u0632-\u0627\u0631\u0632\u0647\u0627.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c13b63b elementor-widget elementor-widget-text-editor\" data-id=\"c13b63b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"The_possibility_of_extracting_cryptocurrencies\"><\/span>The possibility of extracting cryptocurrencies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Digital currencies that are based on proof of stability of work can be mined by users by miners and hardware. In fact, proof-of-work currencies can be mined and people can mine them with a miner.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bc5585a e-flex e-con-boxed e-con e-parent\" data-id=\"bc5585a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2107da9 elementor-widget elementor-widget-text-editor\" data-id=\"2107da9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Disadvantages_of_the_pow_proof-of-work_algorithm\"><\/span>Disadvantages of the pow proof-of-work algorithm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">In addition to the advantages of having a proof-of-work consensus mechanism in blockchain, this mechanism also has disadvantages:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2526c36 e-flex e-con-boxed e-con e-parent\" data-id=\"2526c36\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2cd2137 e-con-full e-flex e-con e-child\" data-id=\"2cd2137\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5596a10 elementor-widget elementor-widget-text-editor\" data-id=\"5596a10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_power_consumption\"><\/span>High power consumption<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">In order to mine Bitcoin, miners have to keep their devices on 24 hours a day, 7 days a week, which leads to high electricity consumption. Also, due to the increase in the number of extractors, more powerful devices with more electricity consumption are needed for this.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7a7b530 e-con-full e-flex e-con e-child\" data-id=\"7a7b530\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7ae22ae elementor-widget elementor-widget-text-editor\" data-id=\"7ae22ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"51_attacks\"><\/span>51% attacks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">If an organization or company with individuals can get 51% of the computing power of the network, the consensus mechanism to ensure security will no longer work and that company or person will be able to add an invalid block to the network and jeopardize its security. .<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d68686f e-con-full e-flex e-con e-child\" data-id=\"d68686f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-53e1dfd elementor-widget elementor-widget-text-editor\" data-id=\"53e1dfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Centralization_of_mining\"><\/span>Centralization of mining<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Proof of work means the creation of a cryptocurrency without the involvement of an organization or a centralized authority in it. Therefore, this system is centralized in practice, and the control and management of the computing power of Bitcoin is only provided by three mining pools, about 50%, and only this factor seeks to solve this problem.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e32cf28 e-flex e-con-boxed e-con e-parent\" data-id=\"e32cf28\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-81e8cfd elementor-widget elementor-widget-text-editor\" data-id=\"81e8cfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Digital_currencies_based_on_Proof_of_Work\"><\/span>Digital currencies based on Proof of Work<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">With the launch and creation of Bitcoin in 2008, the Proof-of-Work algorithm was shown to be a suitable and secure consensus mechanism for other cryptocurrencies. Today, important currencies operate based on this algorithm, including Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Ino, Bitcoin Cash, Monero, Deckord, Dash, ZCash, etc.<\/p>\n<p style=\"text-align: justify;\">Of course, it should be noted that although Ethereum&#8217;s current algorithm for consensus is proof-of-work, it will move from this algorithm to proof-of-stake in the Ethereum 2.0 update.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-926f59e e-flex e-con-boxed e-con e-parent\" data-id=\"926f59e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d145754 elementor-widget elementor-widget-accordion\" data-id=\"d145754\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2191\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2191\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" tabindex=\"0\">What is the reason why digital currencies need a proof-of-work algorithm?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-2191\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2191\"><p style=\"text-align: justify;\">Due to the decentralized nature of blockchains, these peer-to-peer networks require a method to achieve security and consensus. Proof-of-work algorithm is one of the suitable methods to achieve this goal.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2192\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-2192\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" tabindex=\"0\">What cryptocurrencies can be mined?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-2192\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-2192\"><p style=\"text-align: justify;\">All cryptocurrencies based on proof of work will be able to be mined.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Proof of Work algorithm is a smart solution to prevent double spending and hacker attacks. Proof of work plays an important role in blockchain and most cryptocurrencies use it as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":12483,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-13147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-articles-en"},"_links":{"self":[{"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/posts\/13147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/comments?post=13147"}],"version-history":[{"count":0,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/posts\/13147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/media\/12483"}],"wp:attachment":[{"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/media?parent=13147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/categories?post=13147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/farhadsalimi.com\/en\/wp-json\/wp\/v2\/tags?post=13147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}