Bitcoin Forum
May 21, 2024, 07:12:50 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 4 »  All
  Print  
Author Topic: what is the difference between staking and mining???  (Read 721 times)
Gary Levanevskii
Full Member
***
Offline Offline

Activity: 686
Merit: 227



View Profile
January 09, 2019, 08:55:19 PM
 #21

I think that stacking and mining have a lot in common, but stakin refers specifically to the PoS algorithm. Mining is a more comprehensive concept.
Artemis3
Legendary
*
Offline Offline

Activity: 2030
Merit: 1563


CLEAN non GPL infringing code made in Rust lang


View Profile WWW
January 09, 2019, 11:18:17 PM
 #22

In PoW (mining) you earn coins by doing math computations.
In PoS (holding) you earn coins by keeping them in your wallet.

Of course, keeping coins in a wallet consumes less resources than doing math. They also act as nodes and use bandwidth and storage for their blockchain. But to stake coins they need to exist right? And to make them exist...

██████
███████
███████
████████
BRAIINS OS+|AUTOTUNING
MINING FIRMWARE
|
Increase hashrate on your Bitcoin ASICs,
improve efficiency as much as 25%, and
get 0% pool fees on Braiins Pool
levvv
Member
**
Offline Offline

Activity: 532
Merit: 17


View Profile
January 11, 2019, 01:45:28 AM
 #23

is there any difference, are they one and the same? Huh

They are both same, one of the ways of mining cryptocurrency.
Mining with Proof of Work (PoW) is using mining rig and mining software, you will gain coin by mining according how advance is your mining rig.
While mining with Proof of Stake (PoS) is called staking, mining using coin you have. You will gain coin depending how much you have when you staking.
There are another ways of mining too, such as DPoS, etc.
Vikhy
Member
**
Offline Offline

Activity: 387
Merit: 13

1ndiaSPqmqRUBXK79chY9Merz5AZrSu6y


View Profile WWW
January 11, 2019, 11:50:29 AM
 #24

Both in PoW and PoS,there's a difficulty/problem to be solved to create a new block and whoever solves this equation will be rewarded with the Block reward.
In PoW coins,
This difficulty equation is solved by machines with high computational power such as ASICs. i.e; More ASICs= More computational power
More the computational power=easier to solve the difficulty.

In PoS coins

This Difficulty equation is solved by those with more stake(coins) in the network. i.e. More coins = more computational power.
Hence it does not depend on external factors like expensive mining equipments but on the number of coins held by stakeholder.

░▒▓█  x42 Protocol ░▒▓█ ▬ Feeless ▬Smart Contracts▬ C#▬ Proof-Of-Stake  ▬ Sidechains ▬ dApps ▬
Our website! Whitepaper! Twitter! Facebook! Reddit! Discord!Telegram!
jpnl0008
Jr. Member
*
Offline Offline

Activity: 364
Merit: 1


View Profile
January 12, 2019, 03:32:59 PM
 #25

I would say tha staking is the amount of coins of cryptocurrency that remains in your wallet for a period of time to receive certain dividend and i have little or less information about mining and how it works I wouldn't love to learn more from this platform thanks
H1N1
Full Member
***
Offline Offline

Activity: 812
Merit: 100



View Profile
January 14, 2019, 01:51:39 AM
 #26

is there any difference, are they one and the same? Huh

What i know, staking is mining with your coins. What you gain, will depends on the amount of coins you own.
Mining with mining equipment like asic won't depends on how much coin you have.
I think that is the different of staking and mining. I prefer staking because you don't have to buy mining equipment.

Chibongvdg
Sr. Member
****
Offline Offline

Activity: 561
Merit: 250


View Profile
January 14, 2019, 07:01:14 AM
 #27

Mining requires doing work (i.e. using electricity to power machines that perform the proof of work) to produce blocks and earn coins. Staking generally requires those that are staking to lock up their coins for some period of time (i.e. can't spend the coins) for a staker to have a chance of being selected to produce a block and collect the block reward.
lhadygreen
Member
**
Offline Offline

Activity: 99
Merit: 10


View Profile
January 14, 2019, 07:33:35 AM
 #28

Staking is one of the way for mining cryptocurrency. You are providing the Network support to find more blocks and at a faster rate! You need coins in your wallet and that helps to verify and confirm more blocks in the blockchain network of the coin. Staking is as easy as sending your computer wallet any amount of Coin and clicking “Unlock Wallet” while,

Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. It is also the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining". This ledger of past transactions is called the block chain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
coinwizard_
Jr. Member
*
Offline Offline

Activity: 336
Merit: 5

Most Advanced Crypto Exchange on the Blockchain


View Profile
January 14, 2019, 07:36:53 AM
 #29

Staking means you don't need asics or gpus to calculate algorithms and get coins. Instead you leave your wallet online and get coins based on how fat your wallet is

CRYPTOCIRCLEX | THE MOST ADVANCED CRYPTO EXCHANGE ON THE BLOCKCHAIN
✪╠════════════════════════════════════════════════════════════╣✪
Belec
Member
**
Offline Offline

Activity: 140
Merit: 15

★777Coin.com★ Fun BTC Casino!


View Profile
January 14, 2019, 07:36:58 PM
 #30

Let's start from the basics, and that's where mining invests and what staking are investing. When mining, they invest money into their own computer or hardware. If he invests in a good hardware, he brings him a big profit. While the one who plans to patience what he needs is the initial investment, the amount of money he enters is proportional to his profit.
Stack is very easy for most people to work, just need money and little experience, recognize when it's a good time to raise money or when you think everything is going to ruin. While mining is more complicated and can not be done by anyone, you must have experience first of all around the computer and how mining works, but if you know it well you will profit, the components in that hardware you invested the same are proportional to the gain, that is, when you mining then spoil these components. There are a lot of differences, but these are some of the most obvious, they have a lot of similarities, for example, with the same coin bitcoin (most people).

Wingo
Full Member
***
Offline Offline

Activity: 686
Merit: 107


View Profile
January 14, 2019, 08:12:35 PM
 #31

is there any difference, are they one and the same? Huh

The question should be the difference between PoS (Proof-of-Stake) and PoW (Proof-of-Work). There are many answers on google. To make it short and easy to understand, PoS is way cheaper compared to PoW, and it is more scalable and faster compared to PoW. Both protocols generates new coin, just in a different manner. Proof-of-Stake requires ownership of a number of coins that is a basis for creating new block and the reward that the owner will get from the generated block. Proof-of-Work requires computing power in order to generate new block.

PoS is way profitable, and scalable compared to PoW and it is also faster. This is the reason why many new generation blockchain use PoS. It is also the reason why Ethereum is migrating to PoS.
romelitounknown
Jr. Member
*
Offline Offline

Activity: 279
Merit: 7


View Profile
January 16, 2019, 12:30:36 PM
 #32

PoS is also a system for validating transactions, so the purpose is the same as the PoW, but the result is obtained in a different way. Proof-of-Stake is executed by miners who put a number of their coins on a block to check transaction .
Stac
Full Member
***
Offline Offline

Activity: 419
Merit: 100



View Profile
March 07, 2019, 11:41:25 PM
 #33

At first When  Bitcoin was introduced to the world there were three ways to get them  we could buy Bitcoin or someone have to give us or could get by mining The mining creates new coins and release them to the block chain .Staking involves the purchase of cryptocoins and holding them in a wallet for a period of time This is akin to a fixed deposit proof of stake also rewards you with extra coins by holding your coins will increase in number depending on how long you hold them in the wallet . Mining requires technical know how as well as computational power to solve the puzzles .

odeskpawan
Newbie
*
Offline Offline

Activity: 43
Merit: 0


View Profile
March 11, 2019, 11:37:56 AM
 #34

Staking
Staking is purchasing the crypotcoins and holding them in the wallet for a specific period. It uses the Proof of Stake algorithm, which is the basis of many cryptocurrencies. Similar to the fixed deposit in non-digital currency, PoS rewards one with additional coins.

Mining
Mining is a process in which transactions are verified. For mining, you need to know the technical know-how and computational power to solve the algorithm puzzles of the blockchain networks. To make the mining easier, there is a chance of mining solo or joining a pool.   
steveabrahams
Sr. Member
****
Offline Offline

Activity: 1050
Merit: 254



View Profile
March 11, 2019, 12:02:17 PM
 #35

Staking is like adding more coins into your assets and it's like holding some coins. For mining, is you mine some coins like bitcoin, ethereum and other altcoins using a mining rig or vga or something like that to get a coin/token. Yeah it's different.
okala
Full Member
***
Offline Offline

Activity: 980
Merit: 114


View Profile
March 11, 2019, 01:30:26 PM
 #36

The is no clear demarcation between the two both mining and stake are all embodied in one process, but one should draw a slim line between them I will say mining is the totality of the process while stake is one process in the whole mining industry.
kucritt
Full Member
***
Offline Offline

Activity: 616
Merit: 100



View Profile
March 11, 2019, 02:01:52 PM
 #37

i dont know the different as i know that staking is part of the mining, so i think the staking and mining is the same things. for me, please somebody correct me if i wrong

joseyphil82
Member
**
Offline Offline

Activity: 742
Merit: 16


View Profile
March 11, 2019, 02:52:59 PM
 #38

Staking requires less electricity to none at all but you have to hold some percentage of the staking coin to get some rewards ,stake coins are of different types ,some will stake online all you have to do is on your pc ,that's it ,no heat generating and some other stake coins will still stake offline

Mining requires lots of electricity energy ,you have to build mining pc or buy mining rigs which is costly and time consuming too,we have many different types of coins running on mining algos from scrypt to sha256 ,from cryptonight to ethash etc you will have to plug the mining rig using electricity 24/7 to gain profits daily and mining can't work offline

incomefromcoins
Jr. Member
*
Offline Offline

Activity: 336
Merit: 1


View Profile
March 19, 2019, 11:08:03 AM
 #39

mining is derived from algorithm  and hardware power whereas staking is to stake coins in the wallet staking is called pos and mining is called pow
Blackdeath
Sr. Member
****
Offline Offline

Activity: 910
Merit: 261


★Bitvest.io★ Play Plinko or Invest!


View Profile
October 06, 2019, 12:32:51 AM
 #40

is there any difference, are they one and the same? Huh

I do not have any idea about staking but I have a little knowledge about mining. If I'm not mistaken mining consumes a large amount of electricity because you need to open your personal computer for maybe almost 24 hrs. I think that staking is the opposite of mining but I'm not quite sure.



BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
Pages: « 1 [2] 3 4 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!