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What is Proof-Of-Work?

Proof-of-Work is a decentralized consensus mechanism. The Litecoin network essentially requires members to contribute computing power to solve arbitrary mathematical puzzles and prevent anyone from gaining control or manipulating the system. Every transaction that occurs is validated before it gets added to the Litecoin blockchain. Each block then gets validated by the miners, who get rewarded Litecoin (LTC) as they have put in the “work”. Hence, this process being called 'Proof-of-Work'.

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