Proof of Stake or POS is a concept based on mining and approving conversions according to the masses that have a large amount of currency. Any metal that has a large amount of bitquin or alternative currency has the power to ratify the mining and is the one who urges him to come to solve the mass. The PoS digital currency is Peercoin. Nxt, Blackcoin, ShadowCoin and now there is a Lindacoin coin.
- Pow means mining through the Almashmin graphics card and other
- pos means cross mining leaving the wallet open to confirm the coefficients
And will explain each term separately in detail
The POW system is a proof of work, which means the system of work thresholds, which is the basis of the work of the structure and many similar currencies.
It docks the power of machines to solve algorithm equations using computer processors, graphics cards, or specially designed machines
The minerals are rewarded according to the strength of the material and the power of the machines they possess. The greater the mining power, the greater the reward. The system is expensive for the metal
This is for the POW system, in which nothing is contrary to the legitimacy, because what the miners get is the result of the work and the costs of the organs
The second system is the POS system, which is the abbreviation of the English word proof of stake. It means the verification of the quota, in which the mining machinery is not used and it is not expensive for the metal and your portfolio is converted to virtual mining machines. The mining power used is the amount of currency in your portfolio. Winnings in this system will depend on the basis of the amount of currency in your portfolio and the duration of the survival of the currency, the number of days in the portfolio.
Each currency has its minimum age and may be calculated by dues, days or weeks. The bonus can not be obtained after exceeding the minimum amount of time required. As you enter this profit, the annual interest rate is different from currency to currency.
The more you have a large amount of currency and have a long time in the portfolio and your wallet is open all week, the more luck you get the reward
As I said earlier this system of mining governor is not expensive because of the lack of the necessary machinery and expenses related to electricity and maintenance
It also provides great currency protection from the hack due to the lack of a need to create swimming pools for mining
In order to know the system of any currency, I advise you to visit this site
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