Cryptocurrency Q&A
Is Bitcoin PoW or PoS?
Is Bitcoin PoW or PoS?
Silvia
Sun Nov 24 2024
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7 answers
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I'm trying to figure out whether Bitcoin uses a Proof of Work (PoW) or Proof of Stake (PoS) system. I know these are two different consensus mechanisms in the cryptocurrency world, but I'm not sure which one Bitcoin employs.
7 answers
Margherita
Tue Nov 26 2024
With this increasing popularity, the complexity of solving the puzzles associated with PoW has also risen.
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Martino
Tue Nov 26 2024
Solving these puzzles now demands significantly more computing power than before.
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BenjaminMoore
Tue Nov 26 2024
This increase in difficulty is a direct consequence of the growing number of participants trying to mine these cryptocurrencies.
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Federico
Tue Nov 26 2024
Bitcoin is a well-recognized cryptocurrency that operates on the Proof of Work (PoW) mechanism.
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Riccardo
Tue Nov 26 2024
As a result, mining has become more competitive and resource-intensive.
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