PoS on steroids.
explain it to me little faggot.It's
Please explain it to me Mr. little faggot for you.
ok, in layman's terms:
Proof of stake(PoS) distributes new coins to other coins over the network randomly
It is different to proof of work (PoW) where the proof of completing hashing alghoritms sends new coins to the wallet ID that did the task.
Some alt coins use these techniques single, some use them both, some use them fast, some use them slow, some use them in phases.
Blackcoin uses PoS super fast, it starts of as a PoW phase with 10000 block of 1000 coins, at block 5000 PoS was introduced and at block 10000 PoW will stop, so it is not mineable anymore after that short PoW launch period and purely interest on the coins you have in your wallet.
This is miners catnip, if you hold alot after the first week, you don't need your gear anymore to continue raising income after the first week and can put your gear on something else.
Now say thank you Mr. Little Faggot.
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