| layout | title | subtitle | redirect_from |
|---|---|---|---|
page |
Proof of Work |
Trustless consensus via difficulty-adjusted PoW is the innovation |
/pow |
Bitcoin's difficulty-adjusted proof-of-work is the innovation. Without it, trustless digital scarcity and immutability is impossible.
Read the following, in order:
- [A failure to understand proof of work is a failure to understand Bitcoin][tw-pow]
- [Memes vs The World][tw-meme-world] - How information differs from physical objects
- [Bitcoin is Time][time] - How Bitcoin decentralizes time itself
- [Bitcoin is Digital Scarcity][digital]
- [Bitcoin's Energy Consumption][energy] - A shift in perspective
{% capture absoluteVideoURL %}{{ 'assets/video/pow.mp4' | absolute_url }}{% endcapture %} {% include video.html file=absoluteVideoURL %}
Visit endthefud.org/PoW for a collection of articles that explain why proof-of-stake is a non-solution to the problems that Bitcoin solves.
- 2022: [How Bitcoin Mining Can Transform the Energy Industry][arcane2022-pdf]
- 2022: [Q2 Global Bitcoin Mining Data Review][bmc2022-q2-pdf]
- 2021: [Q3 Global Bitcoin Mining Data Review][bmc2021-q3-pdf]
- 2021: [Bitcoin is Key to an Abundant, Clean Energy Future][bcei2021-pdf]
Reports by Arcane Research, the Bitcoin Mining Council, and the Bitcoin Clean Energy Initiative.
[arcane2022-pdf]: {{ site.url }}/assets/files/2022-09-03-arcane-research-how-bitcoin-mining-can-transform-the-energy-industry.pdf [bmc2021-q3-pdf]: {{ site.url }}/assets/files/2021-10-19-Q3-BMC-Presentation-Materials-Final.pdf [bmc2022-q2-pdf]: {{ site.url }}/assets/files/2022-07-19-BMC-Presentation-Q2-22-Presentation.pdf [bcei2021-pdf]: {{ site.url }}/assets/files/2021-04-01-bcei-paper-clean-abundant-energy.pdf
[tw-pow]: {{ '/powthread' | absolute_url }} [tw-meme-world]: {{ '/memeworld' | absolute_url }} [time]: {% post_url /bitcoin/2021-01-14-bitcoin-is-time %} [digital]: {% post_url /bitcoin/2022-10-02-bitcoin-is-digital-scarcity %} [energy]: {% post_url /bitcoin/2018-06-10-bitcoin-s-energy-consumption %}