December 2018
Beginner to intermediate
564 pages
17h 34m
English
Content preview from Blockchain Developer's Guide
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The mining process
Mining is mostly done in PoW-based blockchains, but as discussed earlier, PoW is not the only consensus system that is in use; there are various other consensus mechanisms as well. Proof of Work, however, is the most widely used consensus system used in cryptocurrencies.
The concept of PoW existed long before its use in Bitcoin. These systems were used previously to restrain denial-of-service attacks, spams, and other networking-related issues that currently persist in the system since they require proof of computational work from the requester before delivering the required service. This makes such networking-related attacks infeasible.
For PoW systems to be cost-effective enough, the computational task is moderately difficult ...
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