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Yes. Proof of Work is required so that there is a global limit on the rate at which new coins are created.
by jstanley 6y ago
Yes. Proof of Work is required so that there is a global limit on the rate at which new coins are created.
- monokh 6y agoIt also: - Acts as the primary mechanism to make the data in the chain immutable, as the cumulation of the work (chain of valid blocks) becomes harder and harder to reproduce. - Anti spam, i.e. you need to put something at stake (electricity and hardware cost) to participate in the issuance and transaction ordering