Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is proof - of - work? a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order

What is proof-of-work?
a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (blocks) on the distributed ledger or blockchain
a way to validate transactions and achieve a distributed consensus
a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems; it operates independently of a central bank
All of the answers are correct.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Concepts of Database Management

Authors: Philip J. Pratt, Joseph J. Adamski

7th edition

978-1111825911, 1111825912, 978-1133684374, 1133684378, 978-111182591

More Books

Students also viewed these Databases questions

Question

5. Explain how ERISA protects employees pension rights.

Answered: 1 week ago

Question

Did the decisions need to be made, or had they already been made?

Answered: 1 week ago

Question

When there was controversy, was it clear who had the final say?

Answered: 1 week ago