Post
Topic
Board Development & Technical Discussion
Re: Why is Mining Necessary?
by
AceKnight
on 23/10/2021, 06:49:29 UTC
Mining serves two purposes:

1) reaching consensus on successive blocks of transactions

2) new coin distribution

Proof-of-stake can only serve the first purpose, which is why pure PoS coins are 100% premined by the coin creators.

Oh okay, So it can be done in other ways too? Like if wanted the miners to help in rendering a 3D model or Scene just like how renderpools work. Would that be an acceptable way as well?