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🔔What are NIPoPoWs?
This thread is intended to describe and simplify one particular innovation on the #Ergo #blockchain: NIPoPoWs.
#NiPoPoW stands for Non-Interactive Proof of Proof of Work. Let’s break this down one piece at a time.
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This thread is intended to describe and simplify one particular innovation on the #Ergo #blockchain: NIPoPoWs.
#NiPoPoW stands for Non-Interactive Proof of Proof of Work. Let’s break this down one piece at a time.
1/15
PoW sitting at the end of #NIPoPoW signifies that this concept is grounded in a proof of work consensus mechanism
Ergo relies on #miners to solve cryptographic puzzles that give them the right to verify transactions and add blocks to the #blockchain
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Ergo relies on #miners to solve cryptographic puzzles that give them the right to verify transactions and add blocks to the #blockchain
2/15
Po in the center of NIPoPoW stands for Proof of.
Having proof of proof of work means using cryptography to abstract away from the blockchain in a mathematically verifiable way.
In other words, PoPoW is a lightweight, yet provably accurate, representation of the blockchain
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Having proof of proof of work means using cryptography to abstract away from the blockchain in a mathematically verifiable way.
In other words, PoPoW is a lightweight, yet provably accurate, representation of the blockchain
3/15
