PEM Project
  • Index
  • Abstract
  • 1. Project Background
    • 1.1 Overview of Blockchain and Cryptocurrency
    • 1.2 Growing Demand for AI Computing Power
    • 1.3 The Necessity of Constructing a Cloud Computing + Blockchain Network
  • 2. PemChain Overview
    • 2.1 Project Introduction
    • 2.2 Core Architecture
    • 2.3 Technical Features
    • 2.4 Ecosystem
  • 3. Blockchain Technology Applications
    • 3.1 Edge Cloud Computing Network
    • 3.2 Multi-chain nodes + Cloud computing clusters
    • 3.3 Cloud Computing Reward Mechanism
    • 3.4 Proof of Work Consensus Algorithm
    • 3.5 Consensus Mechanism
    • 3.6 Algorithm Advantages
    • 3.7 Smart Contracts
  • 4. PEM Token Issuance
  • 4.1 Issuance programme
  • 4.2 Token Value and Incentive Structure
  • 4.3 Economic Model Design
  • 5. Ecological Construction and Governance
    • 5.1. Ecological Construction Plan
    • 5.2. Community Governance Mechanism
    • 5.3. Incentive Mechanism Design
  • 6. PEM Coin Information
    • 6.1 Basic Information about PEM
    • 6.2 PEM Allocation
  • 7. Development Roadmap
  • 8. Team Information
  • 9. Disclaimer
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  1. 3. Blockchain Technology Applications

3.4 Proof of Work Consensus Algorithm

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Last updated 5 months ago

Participants in the blockchain network are rewarded based on their contributions to the creation of blocks. To achieve this, participants execute a Proof of Work (PoW) through the blockchain's consensus algorithm, a process known as "mining".

Proof of Work (PoW): This is a mechanism for verifying and confirming transactions by solving complex mathematical problems. Miners compete to generate new blocks by solving these problems and are rewarded with block rewards.

Hash Function: Based on the Keccak-256 (SHA-3) hash function.