Proof of Work (PoW) is a consensus mechanism used by various blockchain networks to validate transactions and add new blocks to the blockchain. It was first implemented by Bitcoin, the pioneer cryptocurrency. The core principle behind PoW is solving a computational challenge that requires significant processing power, ensuring network security and decentralization.In PoW, miners compete to solve complex mathematical problems that require extensive computational resources. The first miner to solve the problem gets the right to add a block of transactions to the blockchain.This process validates and records transactions and creates new cryptocurrency as a reward for the miner, often called the “block reward.”Read more about Proof of Work (PoW)