Final answer:
The solution to the math problem solved by miners in the proof-of-work consensus mechanism is called a 'nonce.' This allows miners to create a new block in the blockchain and be rewarded with cryptocurrency. The nonce is a key component in cryptocurrency mining and securing the blockchain network.
Step-by-step explanation:
In the proof-of-work (PoW) consensus mechanism, a miner solves an unpredictable math problem, and this solution is called a nonce. A nonce, which stands for "number used once," allows the miner to create another block in the blockchain, such as a Bitcoin in the Bitcoin blockchain (cryptocurrency). When miners compete to solve the cryptographic puzzle, they are effectively trying to find the nonce that will result in a hash smaller than the network's target, which is defined by the current difficulty level. This is an integral part of cryptocurrency mining.
The process involves a lot of trial and error, as miners must constantly change the nonce and hash the block's header information until they find a solution that meets the requirements. The first miner to achieve this can add a new block to the blockchain and is rewarded with a certain amount of the cryptocurrency, which in the case of Bitcoin is known as the block reward. This incentivizes miners to contribute their computing power to the network, securing it and processing transactions.