Proof of work

[DC71 169]

You explain very briefly in your post and show proof of working. I think blockchain technology is very important in cryptocurrency world not only in cryptocurrency it is also play  very important role in financial sector of the world. We hope this technology developed  more and play more positive role

[Cryptobash 253]

Actually One needs to do anything to make his/her earning save from scammer. But these process of Prof of work is a complicating one because a biginner like me will find it difficult to activate.

[Omar98 916]

On 1/19/2021 at 4:02 PM, Mishi Lorana said:

This amazing platform requires a lot of people like you who shares great content like this. I appreciate your knowledge that you have shared with us. It is a very important and useful piece of information. 

Thank you so much my friend, we are here in order to share our information and knowledge about all the things that we know in order to make the platform rich by useful topics, also we have to know how Blockchain works in order to understand the way that our money is being transferred and moved from node to another so that we can be more satisfied about the security of it.

[Omar98 916]

On 1/19/2021 at 7:46 PM, sumimalik said:

This posts is really good and more explenative.I get more information from your post.I learn more knowledge and information from your post.You define in detail of block of chain.All members including newbie ,me and other members are get information from your post.

Thank you for being honest.

Actually I always try to do my best in my topics in order to make it useful as much as I can so that all members with different knowledges and different levels of education can get useful information and use it in there life.

 

I believe that all members in cryptotalk should make useful posts in order to make thins platform more useful for all members.

[Lion heart 71]

On 11/14/2020 at 6:06 PM, Omar98 said:

As we know and as I have talked about in my previous topic, Blockchain uses something called Hashes to make the chain of blocks and the method of adding new blocks more secure. But to tell the truth, using Hashes is not enough to prevent tempering.

 

 

Nowadays, computers are being very fast and they can calculate hundreds of these hashes per second.

 

Hackers can effectively temper with the block and recalculate all the hashes of the blocks to make the blockchain valid again like nothing happened.

So, to mitigate this problem, Blockchain had something called

 

Proof-of-work.

And what do we mean by Proof-of-work?

 

Proof-of-work is the mechanism that slows down the creation of new blocks

 

In the Blockchain of Bitcoin, it takes about 10 minutes to calculate the required proof-of-work and add a new block to the chain.

 

 

This mechanism makes it very hard for hackers to temper with the blocks. Because if someone tampered with one block, he/she needs to recalculate the proof-of-work for all the following blocks.

 

 

Although these methods of securing the chain of blocks, the Blockchain secure them selves also by being 

Distributed.

Instead of using a central entity to manage the chain, Blockchain use a peer-to-peer network and anyone is allowed to join.

 

Let's explain how this thing works.

 

Actually, when somebody wants to enter and join the network of blockchain, he/she will gets the full copy of the blockchain.

So that, the nodes (Members of the network) can use it to verify that every thing is still in order.

And when someone creates a new block, this block is sent to everyone on the peer-to-peer network.

 

Then each node verifies the new block to make sure that it has not been tampered with, and if everything checks out, each node adds this new block to his own blockchain.

 

So, Blocks that are tampered with, will be rejected by other nodes in the network.

 

Which means, to successfully tamper with a blockchain, you will need to tamper with all the blocks on the chain, redo the 

Proof-Of-Work

for each block and take control of more than 50% of the peer-to-peer network.

Only then, your tampered block will be accepted by everyone on the network which is almost impossible to be done.

 

 

What do you think after all that security methods?

Support me with your information.

 

In evidence - of-work the gathering must demonstrates to coin organization that the need of the computational work that they have done to blocks. In this manner pointless adjustments for purpose of doing tricks can be preven.

[Azhar Kllu 73]

My dear friend, Thanks for the information you have provide.I have some knowledge in this form in which the blockchainworks.This system is just awesome that people feel save and readily reaching toward the digital currency.I always suggest the BTC blockchain because, I really trust it enough.I wish you to best of luck dear.

[wisesaba 49]

Yeah... You explain and hit the proof of work right well... No wonder big men tends to trust Bitcoin well because of top notch security

[scorpiali 5626]

Good post to understand the proof of work in the blockchain technology it's important for beginners to know that the post is great and need some time to read any use can take some time to read it because they can help to understand how we can transform coins with this way from one to others 

[scofield64 943]

Thanks for the information. That's a really step by step explanation on the technology behind cryptocurrencies. The technology is very secure and well protected against any form of hackers. That's why so many people trust in cryptocurrencies. 

[RoyalHouse01 9]

Do you think we can use the blockchain for some other usages as well? like to keep the records of something or for the sending some other things like sending the documents to one and other person?

[Anwarul05 14]

I think in order to ensure the safety and security of digital currency projects through blockchain in all these systems, it is natural that we can trust a lot of people, especially rich people, Bitcoin completely!
Because it is specially protected!
I also think this feature is one of the most important reasons for the success of cryptocurrency projects

[Ellenmusk 152]

Hello Friends,

I hope you will be fine. This work must be easily verifiable by a third party. When the solution is validated. It is distributed to the entire network. The miner who has found the solution. .Every time a miner solve s this proof of work. They will be broadcast the block to the entire network .The rest of miners must verify that both the operation. 

Thank you💞

[Abrar1122 10]

It is not easy to make the proof available for some of the things, like the blocks in the blockchain can not be seen by the any person, so we can not provide the results to someone.

Edited February 23, 2021 by Abrar1122

[md.nayem01 0]

I work by investing. We make good income by investing. We collect different tokens and sell them if prices go up. BTC is the most popular currency. BTC LTC, ETH are the ones everyone likes when they work on crypto currencies

[Alice21 414]

This publication and information that you are providing will surely be useful not only to me but to other people as well and they will be able to use this information of proof of work to use it and with this explanation that you are giving it is more than enough for people and they will surely like this topic that contains a lot of useful information.

[SaancoAnalco 611]

Greetings friend and I was reading your publication and I found it very informative and helpful for me and for all those members who are starting on the cryptotalk platform

[David 72 399]

Hats off to the brilliant minds behind this creation. This system is just awesome that people feel safe and are readily reaching towards the digital currency world.Great task for the hackers literally. Thank you moderators and other members for always keeping us safe.

 

[Reta 1285]

Thank you, my friend, for your interest in this issue that is important to me. He gave me an important idea about the need to protect our interests so that our effort, our work and our time are not wasted and help in reaching the best information to achieve what we aspire to .. And the biggest thanks to this forum and the mediators who work to ensure our safety and security.

[Amelia1971 1338]

I was really fascinated with your publication, very good the explanation and above all I liked that you have provided the pictures, it is more understandable, I hope all the experts share their information in this way so that those of us who do not know much will find it easier and not fall in the hands of unscrupulous people thank you.

[Mousa 758]

Thanks for sharing this wonderful information we would like to have more senior members like you that will enlighten us more on the topics like this especially the new members and the beginner should be able learn from it 

[Yazantalle 7]

Thank you my friend for this really important topic.

The issue of protection from manipulation and fraud is a comblex and very important matter, especially in the field of financial transactions and transfer,and my knowledge of these topic is little so thank you for this explanation.

[Mohammadnour 1372]

It is very nice to have security in cryptocurrencies, this is what makes people trust these currencies, and I also think that the reason for the spread of cryptocurrencies now is because people have found them safe and easy to transfer from one person to another, and this is a great advantage of cryptocurrencies.

[chris smith 950]

I am really very thankful to you because you ecplain to me new things that i was not know them so try to keep like these topics.

[Jikansamu 1125]

Your topic was really nice and the explanations are also easy to assimilate,actually I don't know of this aspect of block chain before,but thanks to you now I had now known how the whole concept works

[Carmelo Lames 1083]

This type of subject I do not know very well, I honestly do not understand very well how the blockchain works and how everything works so correctly, thanks for the simple explanation and the graphics are very well detailed, I cannot tell you that I have understood 100%, I must to review it again and try to analyze it better, but I like the way you explain it, thank you very much.