What is Proof of Physical Work? - Crypto in Plain English - Episode 209 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it18 Heinä 2022

What is Proof of Physical Work? - Crypto in Plain English - Episode 209 - by cryptohunt.it

What is Proof of Physical Work?

Welcome to the cryptohunt jam where we spend one minute a day explaining crypto. In plain English.

Today, we'll look into a relatively novel concept: Proof of Physical Work.

If you've been listening to this podcast, you have a pretty good understanding of what Proof of Work is - and don't worry if you are just tuning in now. Proof of work refers to a complex computation that crypto miners need to perform when they process transactions. In turn, they get rewarded with crypto.

But what is Proof of Physical Work then? It means that someone has to perform actual work to get rewarded, not just computations. Let's look at an example: Helium.

Helium is a blockchain that powers thousands of tiny wireless access points. Their purpose is to provide cheap and reliable internet connections to devices around the world. If you've ever zipped around a city on one of those scooters - many actually use Helium to connect to the internet, because it's much cheaper than having each equipped with a 5G phone.

Here's where Proof of Physical Work comes in: People who provide those connections attach a little box to their home network, that allows these scooters to dial into the internet. And when their connections get used, they make crypto money.

That's what Proof of Physical Work does: It incentivizes people to do physical work: Like providing internet access, or driving around and mapping out areas.

And in the next few episodes, we look at some really cool use cases in depth. Stay tuned, and until then!

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

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