Illustration for crypto article "What is Proof of Work?"

It's the backbone for most cryptocurrencies, but how does it work?

Proof of Work is a way to confirm transactions without needing a third party. It works by using a community of computers known as ‘miners’. These miners solve cryptographic problems, and the miner that solves the problem first shares the solution with others. If the other miners confirm the solution, then a new block gets added to the blockchain. This is then repeated.