Quote from: Anycoin Direct Support on July 11, 2018, 10:23:47 AM

Hello SK Funky,

As this is a bitcoin discussion thread we will try to compare Proof of Stake with Proof of Work. An explanation of the Proof of Work function used in bitcoin can be found in the bitcoin whitepaper here. After years of development on bitcoin some developers came up with the concept of Proof of Stake. This concept revolves around 'staking coins' in order to receive rewards rather than using hashing power to receive a miner reward. For a full comparison between the different methods of rewarding the users of the dedicated network check out the following guide here

After you understand the difference between these consensus systems it is time to look at one of the first applications of it. We suggest you check out Peercoin to see the first coin that marketed itself as a Proof of Stake coin. Understanding the way their 'staking' process looks like will help you understand other Proof of Stake coins on a much higher level as well.

If you have any further questions on this topic, feel free to send us a DM.

With kind regards,

The Anycoin Direct team

This explains everything.Thank you for the explanation.