Proof of Work
A miner earns the right to append a block by finding a nonce whose block-header hash falls below a target, which is verifiable in one hash but costs an expected exponential number of attempts. This makes block production a purchase of physical energy, turning Sybil resistance into an economic property.
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A miner earns the right to append a block by finding a nonce whose block-header hash falls below a target, which is verifiable in one hash but costs an expected exponential number of attempts. This makes block production a purchase of physical energy, turning Sybil resistance into an economic property.
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