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What is Proof of Work (PoW)?
Proof of Work is a consensus mechanism where miners compete to solve cryptographic puzzles to validate transactions. Bitcoin uses PoW. It's secure but energy-intensive.
Full Explanation
Proof of Work (PoW) is a consensus mechanism where network participants (miners) expend computational energy to solve a cryptographic puzzle. The first to solve it adds the next block and earns the reward. PoW provides Sybil resistance, making it prohibitively expensive to attack the network. Bitcoin, Litecoin, and Dogecoin use PoW. Criticism: massive energy consumption (~150 TWh/year for Bitcoin). Defense: most mining uses renewable energy, and the security justifies the cost for a $1T+ network.