what is the difference between staking and mining??? - page 3.

H1N1

full member

Activity: 812

Merit: 100

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

What i know, staking is mining with your coins. What you gain, will depends on the amount of coins you own.
Mining with mining equipment like asic won't depends on how much coin you have.
I think that is the different of staking and mining. I prefer staking because you don't have to buy mining equipment.

jpnl0008

jr. member

Activity: 364

Merit: 1

I would say tha staking is the amount of coins of cryptocurrency that remains in your wallet for a period of time to receive certain dividend and i have little or less information about mining and how it works I wouldn't love to learn more from this platform thanks

Vikhy

member

Activity: 387

Merit: 13

1ndiaSPqmqRUBXK79chY9Merz5AZrSu6y

Both in PoW and PoS,there's a difficulty/problem to be solved to create a new block and whoever solves this equation will be rewarded with the Block reward.
In PoW coins,
This difficulty equation is solved by machines with high computational power such as ASICs. i.e; More ASICs= More computational power
More the computational power=easier to solve the difficulty.

In PoS coins
This Difficulty equation is solved by those with more stake(coins) in the network. i.e. More coins = more computational power.
Hence it does not depend on external factors like expensive mining equipments but on the number of coins held by stakeholder.

levvv

member

Activity: 532

Merit: 17

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

They are both same, one of the ways of mining cryptocurrency.
Mining with Proof of Work (PoW) is using mining rig and mining software, you will gain coin by mining according how advance is your mining rig.
While mining with Proof of Stake (PoS) is called staking, mining using coin you have. You will gain coin depending how much you have when you staking.
There are another ways of mining too, such as DPoS, etc.

Artemis3

legendary

Activity: 2030

Merit: 1569

CLEAN non GPL infringing code made in Rust lang

In PoW (mining) you earn coins by doing math computations.
In PoS (holding) you earn coins by keeping them in your wallet.

Of course, keeping coins in a wallet consumes less resources than doing math. They also act as nodes and use bandwidth and storage for their blockchain. But to stake coins they need to exist right? And to make them exist...

Gary Levanevskii

full member

Activity: 686

Merit: 227

I think that stacking and mining have a lot in common, but stakin refers specifically to the PoS algorithm. Mining is a more comprehensive concept.

Edenvidal

copper member

Activity: 12

Merit: 0

The difference between staking & mining is that, when you say staking it means you taking the risks/gamble in a certain situation or money or something with value while mining means obtaining units of cryptocurrency by running a computer process to solve a specific problem or to make it simple, you it faster than anyone else.

acholagi

hero member

Activity: 826

Merit: 500

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

staking is usually applied to coins with POS algorithms, an example of a coin with this popular staking algorithm is DASH, you must have 1000 Dash to be able to become a staking participant of the Dash and get passive annual income

mining is another term from the POW algorithm (Proof Of Work), where you have to have computer components with good specifications to be able to do this mining, especially VGA Cards. Examples of coins that use the POW algorithm are Ethereum, Bitcoin and Electroneum.
Especially for electroneum, you can do mining using a smartphone

kalel18

copper member

Activity: 182

Merit: 1

the function of each one is the same, staking is easier than the one, just you need to full fill your task what ever they give you and wait for a time to distribute, you do not need a rig and it is called (pow mining) which is used by (cpu, gpu, etc) this one need profit to setting a hardware to use. This two is the same minning but in deffirent ways.

Ezenwanyi1

copper member

Activity: 308

Merit: 1

Veil

From my own perspective, mining and staking seems to be the same thing . The difference is that while miners spend time , using mining equipments to mine Bitcoin, in staking all you need to do is stake your coins, like lending your coins to miners , they use the coins to buy one or two hardwares alternatively pay for power consumption for mining and at the end of the deal......you get paid in commensurate to the amount of coins you staked.

hadveach

full member

Activity: 448

Merit: 102

both have the same function to mine crypto, but the method is different.

mining relies on hardware, and good hardware will get crypto that is fast and very profitable.

but staking is very easy from mining. and very long to get profit.

zolfa

member

Activity: 518

Merit: 11

yes, staking like passive income in mining by holding coins. for example, I hold a coin in my wallet, and I can get a 90% profit from the coin that I hold.

staking is easier and simpler than mining with hardware.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: NeuroticFish on July 14, 2018, 08:43:53 AM

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

Staking is also mining. The better question is about the difference between PoW (proof of work) and PoS (proof of stake).
Shortly, for PoW you do complicated calculations with a machine (ASIC, FPGA, GPU, CPU, ..) and for PoS you just keep as many coins as possible in a wallet that's running all the time.
There are many articles on the internet about this, now as you know better what to look for, you better search a little and see how others answered to this question.

This is a great answer, but I'd like to add more specifics. Most likely, the op was indeed asking about proof of work and proof of stake. Proof of work or what we generally associate mining with is a way to generate new coins by solving mathematical tasks. For the process to be efficient, one needs special equipment and a lot of electricity nowadays (even though there are exceptions). Proof of stake is similar to deposit earnings in banks. You hold coins for some time and get regular additional coins for doing it. No need for equipment and electricity, but a less decentralised system, I guess.

Olayinka225

jr. member

Activity: 322

Merit: 1

I think to my own best knowledge in crypto, I think the best way to explain this is by saying that:

Staking is by loaning a particular digits or amount of a coin in a project for a defined dividend or percentage in (a week, month year) for profits. The rule will be set by the organizers that this is the percentage we'll be giving on a particular amount of coin one put into stake.

While mining is just by a way of saying one is mining bitcoin.

Red-Apple

hero member

Activity: 1470

Merit: 655

another thing to consider about the difference between the two is with examples. when a mineable PoW coin is released even if the developer premines the coin, he still has to invest in the mining equipment if he wants to make more profit on his coins and "do work" for it.
but when a staking PoS coin is released and the developer premines it, he simply sits back and relax and does basically NOTHING but gets paid for "doing no work". and that is one of the biggest flaws in PoS in my opinion which is the same as the rich gets richer for only being rich.

PM.coins

sr. member

Activity: 616

Merit: 250

Quote from: daarul50 on October 23, 2018, 01:46:39 AM

I think there is no difference because the stake is included in the mining process. Many people have answered questions like this and it would be better if we find out the right answer from the question above because everyone has their own opinions.

I agree with you, when people question something (the difference about mining) actually we often find a different opinion in conveying. It happens because of the point of view or understanding. But that is not a problem, and can be explained. Thanks.

fosco333

full member

Activity: 1260

Merit: 100

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

Well, actually staking is mining too, but using a different method. If you are mining with devices such as ASICs or GPUs or CPUs, then you mining with Proof of Work (PoW Mining). If you staking, then you are mining with Proof of Stake (PoS Mining). Although they both mining, but there are some differences on them, not same.

tegarp90

full member

Activity: 546

Merit: 100

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

Maybe staking is something just like holding a token / currency that will get dividend in a period of time.
And mining, you should have a rig to do this and get the rest bitcoin available supply

Mhd-Bobbi

member

Activity: 434

Merit: 13

Quote from: SK funky on July 14, 2018, 07:21:05 AM

is there any difference, are they one and the same? Huh

The question is not relevant, it looks like you need to read to better understand, you only need to do a search on Google.
the difference between installation and mining?
What do you want to install?
What do you want to do to mine?
if you ask whether Bitcoin mining? maybe I can answer from some definition articles.

daarul50

legendary

Activity: 1596

Merit: 1034

I think there is no difference because the stake is included in the mining process. Many people have answered questions like this and it would be better if we find out the right answer from the question above because everyone has their own opinions.

Topic: what is the difference between staking and mining??? - page 3. (Read 781 times)