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Author Topic: How to manage a coin with only POS option.  (Read 260 times)
FLoving
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February 11, 2017, 11:02:33 AM
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Yesterday a question came to my mind that in POW the miners establish their mining set up and start mining but in POS they only need to buy some stakes for getting the profit. I hope it will be right. So for POS what will be the procedure for mining? will the developers set up the mining or there is another procedure for managing the POS coin? and what will be the required for POW/POS mixed?



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February 11, 2017, 11:49:36 AM
 #2

after the initial distribution you just let your wallet running and it will generate more coin, with a process called minting, your hashrate is your wallet balance, but it all depend on the initial distribution, if the dev take a big portion like they usually do, they would contorl easy the market and dump a big amount, i prefer pow over pos because of this reason



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February 11, 2017, 02:15:24 PM
 #3

Yesterday a question came to my mind that in POW the miners establish their mining set up and start mining but in POS they only need to buy some stakes for getting the profit. I hope it will be right. So for POS what will be the procedure for mining? will the developers set up the mining or there is another procedure for managing the POS coin? and what will be the required for POW/POS mixed?

Not really as complicated as proof of works,you just download and run the wallet of course you need coins on it to be able to mint new coins,it's practical and easy to set up,every one can set it up even with a very old computer than proof of works where you need to buy expensive mining rigs or hardware..

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February 18, 2017, 10:41:10 AM
 #4

Yesterday a question came to my mind that in POW the miners establish their mining set up and start mining but in POS they only need to buy some stakes for getting the profit. I hope it will be right. So for POS what will be the procedure for mining? will the developers set up the mining or there is another procedure for managing the POS coin? and what will be the required for POW/POS mixed?

Not really as complicated as proof of works,you just download and run the wallet of course you need coins on it to be able to mint new coins,it's practical and easy to set up,every one can set it up even with a very old computer than proof of works where you need to buy expensive mining rigs or hardware..
Will that coins be from he premined coins (distributed by the developers of the coin) which will be minted to the wallet or they will get the coins from the other coins which are not mined previously and the miners will need to mine those coins



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