PoW: Proof of Work

PoW: Proof of Work, this is a decentralized system that distributes rights according to the power of the mining machine. The disadvantages are:

1. Consumption of social resources. The calculated results of computational power are useless and consume a large amount of resources.

2. Inefficiency. The blocking rate is inversely proportional to security, and is no longer useful to the further developments of decentralized blockchain applications.

3. Centralization. The characteristics of decentralization are being lost due to mining pools concentrating resources.

4. Barrier to entry. The gathering of computational power is not friendly to new public chains, and PoW based public chains have a difficult time obtaining large amounts of computational power to maintain system security in the early stages.