What is meant by POS and POW etc for an altcoin?

[FLoving]

I want to know about these concepts in altcoins. There are some altcoins which are saying as POS only and some are with both. There are some others which have other terms inplace of that. Please give me the full details about that.

[BoXXoB]

Here's a wikipedia article of POS: https://en.wikipedia.org/wiki/Proof-of-stake

I personally can't go much into detail. But CLAM for example is an example of a POS coin. You can basically stake your existing coins by holding them in a wallet (in the case of clam).

EDIT: After taking a little read myself staking coins is basically proving ownership of a certain amount of coins. This is an alternative POW where a "prover" is using computational power.

Here's an article about POW: https://en.bitcoin.it/wiki/Proof_of_work

Bitcoin is a proof-of-work coin where users validate transactions by running hashing algorithms etc.

I suppose you'll get much more detailed information from a bunch of users around here...