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Topic
Board Announcements (Altcoins)
Re: [ANN][ZEIT] ZEITCOIN -- 5 EXCHANGES POW/POS 11 Ghs Nethash
by
angryacorn
on 07/03/2014, 13:01:36 UTC
noob question:

What does PoS mean?  Huh

thanks

PoW: proof-of-work, mining, will stop after 6 weeks
PoS: proof-of-stake, minting, coins are generated without mining based on the amount that you have in your wallet (for at least 20 days in this case)


When you say "proof-of-stake, minting, coins are generated without mining based on the amount that you have in your wallet" you mean that i will have some extra coins added into my wallet without doing nothing at all, just for keeping the coins for at least 20 days?

In wiki i read "Proof-of-stake is a method of securing a cryptocurrency network through requesting users to show ownership of a certain amount of currency."

Sorry for my stupid questions but i cannot find someone to explain this to me.

Regards

yep pretty much Smiley thats why its good to hold and wait and not dump!