I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...
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Does that mean that transactions will no longer need to be verified by miners?
That means the method of generating altcoin is no longer based on how much computing power you have, but according how much altcoin you obtain and then generate the new coin according how much portion you obtain.... And soon Eth will becom Proof of stake and the mining difficulties will become more difficult. So I think is it to end for mining altcoin using mining mechine....
Thanks for the info. If nobody mines it, how will the transactions be proven in the blockchain?
They still use the bolockchain system, and it may need to store the altcoin into a specific for the generation of new altcoin , or through the ERC token system for the distribution of new coin, but there is a concern that, which is dangerous to put most of the coins into a specific, and the meaning of blockchain will lost, and POS solution may centralize the market....
I get that but how will transactions be verified if there is no mining? Isn't that the engine of for example Bitcoin?