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Is PoW an indispensable component in blockchain? [closed]

Çağlar Arlı      -    29 Views

Is PoW an indispensable component in blockchain? [closed]

There is an argument that if the Proof-of-Work (PoW) mechanism is removed from the Bitcoin network or if the puzzle does not have a sufficient level of difficulty proportional to the computing power of the network, the chaining of transactions and blocks will not be effective in preventing the alteration of historical transactions. This is because without a sufficiently difficult proof-of-work proportional to the total hashing power of the network the entire blockchain can be replaced by a new valid blockchain, where each block is created based on the hash of the previous blocks.

Based on this argument, can we say that PoW is an indispensable component in blockchain?

NOTE : The blockchain structure is utilized to enhance the security of the system and prevent data alteration. So yes, it is absolutely an information security question.