Ankr

Staking is made possible through Ankr’s modified proof-of-work (PoW) consensus algorithm called proof of useful work (PoUW). Unlike bitcoin’s PoW algorithm that requires miners to generate increasingly difficult hashes to discover new blocks, Ankr’s PoUW uses computing power to execute useful computations for the network. Miners receive this “useful work” from useful work providers. Useful work providers send computations they need to be solved, which are then attached to the block of transactions the miner is verifying. Because the computations sent by the provider could be anything, this enables Ankr to work with almost all on-chain computation while simultaneously reducing the energy costs of traditional PoW.