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Topic: what is the difference between staking and mining??? - page 4. (Read 758 times)

newbie
Activity: 14
Merit: 0
Using the Proof of Stake (Pos) algorithm that is the basis of many new cryptocurrencies, staking involves the purchase of cryptocoins and holding them in a wallet for a particular period of time.

Mining requires technical know-how as well as computational power so as to solve the algorithmic puzzles involved in blockchain networks.
newbie
Activity: 21
Merit: 0
So basically, staking uses little resources when compared to mining so this means less electricity consumption and no need for extra machines to participate in staking.
legendary
Activity: 3668
Merit: 6382
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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.
member
Activity: 321
Merit: 10
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
I have no idea what is the difference and would be glad to find out this as well, i have heard only about mininig but it is too expensive now which means that it is not effective to use this method if only you aren't a rich man
member
Activity: 205
Merit: 10
to tell the truth, i don't know for sure but if i m not mistaken mining is more expensive, there are whole cities of miners who spend much time and efforts for coins , i think that it is worth it and means that soon governments will soon accept it
newbie
Activity: 84
Merit: 0
is there any difference, are they one and the same? Huh
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