June 3, 2022


Bitcoin's most notable feature is its decentralization. It operates securely without the involvement of a central authority. A distributed network of users store and update the digital ledger that records transactions — called the blockchain — on their own computing hardware. However, this raises an important question: Without a central authority to act as a final arbiter, how does Bitcoin ensure that nobody manipulates the blockchain for their own ends? The answer is proof of work.