Quote from: xzh16888 on April 18, 2014, 08:42:50 AM

The difference between POW and POS mode:

   POW：
   We are familiar with the working mechanism of bitcoin is POW, namely Proof of work, proof of work mechanism.
Proof of work mechanism (POW) is not difficult to understand, in many cases we are using POW. We just didn't understand it.
Without considering the verification condition. (whether central or non verification center.), We can think of anything with a probability of events accumulated are proof of work, Therefore, POW requires a certain amount of evidence, The proof can be recorded directly can also be based on probabilistic representation, in which the event of small probability cumulative work, The results show that the workload is equivalent to,

POS:

   POS is the "Proof of stake," Direct proof that you hold share.In addition to mixed PPC, The real POS money is no mining process, It is in the block stated ownership certificate, after the shares that can be transferred, not mine. In the real world that is common stock equity, is the most simple. The stock is that used to record the equity, also represents the voting rights and the right to return, In a pure POS system, such as NXT, no mining process,

1 question. if there no mining prcess . who is going to combine the transaction into block?
That's always confusing me about the pure POS concept.