What is proof of work in Siacoin?

At the heart of PoW lies the miners, who tirelessly engage in computational tasks known as 'mining.' Their primary objective is to validate transactions and contribute to the ever-growing blockchain, ensuring the integrity of the Sia network.

Sia, a pioneering cryptocurrency platform, employs the Proof of Work (PoW) algorithm as its cornerstone for maintaining network security. This approach, akin to Bitcoin's, underscores Sia's commitment to a robust and decentralized ecosystem.

By solving complex mathematical puzzles, miners not only verify the authenticity of transactions but also add new blocks to the blockchain, thereby strengthening the overall security of the network. This process is critical in preventing fraudulent activities and maintaining trust within the Sia community.

The PoW algorithm employed by Sia ensures that smart contract (SC) transactions and storage contracts are meticulously secured and verified by the network. It provides a tamper-proof ledger, where every action is recorded and can be traced back to its origin.

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