💡Overview

Crypto projects using Proof of Work (PoW) as a consensus mechanism have been a staple of the industry since Satoshi Nakamoto released his white paper on Bitcoin. in early 2020, Bitcoin and Ether using the PoW consensus mechanism had a circulating market cap of over $100 billion each, collectively accounting for 80% of the total market cap of all blockchain projects and an annual value of over $15 billion. Mining is the foundation of all PoW projects, and by mentioning HashPower, miners work together to maintain the security of Bitcoin and Ether, thereby earning block rewards and transaction fees.

To some extent, the history of blockchain development is the history of competing arithmetic power. Arithmetic power is the cornerstone of cryptocurrency security and is an important support for its huge market value. As blockchain flourishes, the market for arithmetic power will inevitably grow and become one of the key internet infrastructures.