Blockchain is all about providing and upholding the sanctity of trust in relationships made over the internet. The relationship of me to you and yours to your internet client.
Cryptocurrency has much more character to it than what any blockchain interface or crypto app will show. The hard labor and sweat put in tech has always been overshadowed by the marketing and concealed packaging of it all. The processing, calculation and verification that happens in the background, away from the users eye is complex and built with sophistication.
It is the underlying programming and layers and layers of security that allows currencies to maintain their value and safety. This is done with the help of very dedicated miners and developers.
This is why we are calling PoW, the king of it all. Who else is better to crown it than us? Unfiltered is after all dedicated to understanding and then explaining the mechanics and the usability of blockchain tech and related ideas.
While the blockchain is hard to crack, and hackers looking to hack the big wallets of digital assets, the inner workings and transparency within a cryptocurrency and its cryptic back end management makes it very hard to succeed. Even though the sums in a particular wallet can be huge, the hackers usually do not find it worthwhile to hack into the system.
This is not a flaw. Ironically enough, it is intentionally made a part of the system by adding a layer of protection called the Proof of Work (PoW) of each transaction. This helps in making the blockchain network a trust-less entity that is safe nonetheless.
How does PoW work?
A proof of work algorithm is a method to achieve consensus on which block will be added next to the blockchain. The blockchain requires proof that work of some kind occurred. This is where it comes in handy.
The PoW is a mathematical explanation of logical relationships that tells the story of the transaction. The story of numbers, dates, time and owners from mining to spending. It is represented in cryptic text. It takes more than ten minutes to calculate the PoW of each transaction. Making replication, tempering and meddling very difficult.
Why is it a shy child?
Well, its a mystery to us as much as it is to you. But, we are assuming it is because people are only lately realizing the true and actual phenomenology behind blockchain networks and cryptocurrencies, so as time matures and the day thickens, chances are the beautifully woven web of validation, verification and math can unravel behind the eyes of the viewers of taste and reveal its true intricacy and might.