How Blockchain Mining Works
How Blockchain Mining Works
Blog Article
Mining Algorithms and Consensus Mechanisms
Mining operates through consensus algorithms like SHA-256 (Bitcoin) or Ethash (Ethereum), ensuring decentralized control.
Energy Consumption and Environmental Concerns
PoW mining consumes vast amounts of energy, leading to concerns about sustainability and the push for eco-friendly alternatives like PoS.
What is a DAO?
A Decentralized Autonomous Organization (DAO) is a blockchain-based entity governed by its members rather than a central authority.
Key Features of DAOs
- Smart Contracts execute governance rules automatically.
- Governance Tokens allow members to vote on proposals.
- Decentralization ensures collective decision-making.