PoS 3.0 is an improved version of the original PoS and generates competition between coin holders, where, based on network connectivity and random odds, you can confirm a block of transactions and receive rewards for coins. This is called betting. It does not require any specific hardware, except a normal computer with an Internet connection, and you will be rewarded in proportion to the amount of coins you have, which makes it fair and decentralized. Currency rewards are determined by annual supply inflation and awarded proportionally to the addresses of that share (equivalent to mining in PoS 3.0)