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Is PoW an indispensable component in blockchain?

The short answer is yes, PoW is an indispensable component in blockchain. First, let's discuss whether Bitcoin's proof-of-work-chain can be considered a consensus mechanism. The article proposing the ...
Questioner's user avatar
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5 votes

Is PoW an indispensable component in blockchain?

"blockchain", as used in your question without qualification, is an underspecified term. It can be, and is, used to refer to: The blockchain data structure used in various specific ...
Pieter Wuille's user avatar
6 votes

How can the Bitcoin blockchain be forked?

Anyone can fork Bitcoin, they don't even need to be a miner. The general steps are: First and foremost, you need to change some consensus rules. Without this step, you aren't actually creating a new ...
Vojtěch Strnad's user avatar

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