Proof of Work

Proof of Work is the initial consensus algorithm used in the Bitcoin blockchain network to confirm transactions and produce new blocks.

More Innovation Glossaries

Frugal Innovation

Frugal Innovation

The process of developing products or services that are affordable and accessible to a wide range of customers, often by using simple and low-cost technologies and design principles.

Sensing Capabilities

Sensing Capabilites are the skill of a firm in sensing opportunities in the market before competitors. This is often done through the use of data, analytics and technology.

Innovation Capabilities

Innovation capabilities are the skills and assets a company leverages to develop novel products, services, or processes.

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