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What is Proof of Work (PoW)

Advancements in Quantum Blockchain With Real-Time Applications
By making the process of mining, or recording transactions, challenging, Proof of Work is the mechanism that enables the Bitcoin network to remain stable. It is the blockchain network's initial consensus algorithm.
Published in Chapter:
Introduction to Quantum-Resistant Blockchain
Omega John Unogwu (Universidad Azteca, Mexico), Ruchi Doshi (Universidad Azteca, Mexico), Kamal Kant Hiran (Sir Padampat Singhania University, India), and Maad M. Mijwil (Baghdad College of Economic Sciences University, Iraq)
Copyright: © 2022 |Pages: 20
DOI: 10.4018/978-1-6684-5072-7.ch002
Abstract
Quantum-resistant blockchains refer to cryptographic processes that are resistant to attacks via quantum computers. Present public-key algorithms depend on the difficulty of deciphering the discrete log and factorization problem of large prime numbers. Shor's algorithm can be used to break the hash signatures by quantum computers. Therefore, it is necessary for the development of a post-quantum secure signature scheme or quantum-resistant blockchain for post-quantum blockchain security. This chapter will discuss the impact quantum computers are predicted to have on public key cryptography based on the following topics: quantum computers, public key cryptography, quantum threat to PKI, Shor's and Grover's algorithms, post-quantum cryptography, and quantum-resistant blockchain.
Full Text Chapter Download: US $37.50 Add to Cart
More Results
Crypto Coins and Ethereum: Pioneering Decentralized Finance
A consensus mechanism in a blockchain that requires participants to perform a computationally difficult task to validate transactions and create new blocks.
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When Giants Meet: Collaborative Economy, Blockchain Technology, and Social Media
A consensus strategy or algorithm used in hashes’ or blocks’ validation processes on the blockchain.
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Convergence of Blockchain to Artificial Intelligence Applications
The miners apply some computing rules to produce a hash value in which the average time between two hash values generation is predefined.
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