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Title: POW, POS Post by: bazukaguy on July 11, 2017, 01:54:56 PM Is it possible to make token without POW and POS mining? Can I just make total supply of coins 20 000 000 and with contract create those 20 000 000 coins and put them somewhere. Or I have to use some algorithm to kind of mine them?
Title: Re: POW, POS Post by: kolloh on July 11, 2017, 03:20:47 PM Is it possible to make token without POW and POS mining? Can I just make total supply of coins 20 000 000 and with contract create those 20 000 000 coins and put them somewhere. Or I have to use some algorithm to kind of mine them? If you are creating a new coin, then sure you could just create all the coins and place them somewhere. However without something such as POW or POS (or some new method), you won't be able to process transactions and confirm them on the blockchain. The purpose of mining is to confirm transactions and include them in new blocks on the chain. Without a method to handle this, the coin wouldn't be very useful. |