You are viewing a single comment's thread from:

RE: Steemit Crypto Academy Contest Season 9 Week 5 - "Cryptocurrency Mining"

in SteemitCryptoAcademy • last year

sorry mam before I found a lot of comments that steem tokens can be mined, but your words:

As far as STEEM tokens are concerned specifically, they cannot be mined in the traditional sense.

but I still don't understand about this tonight, can you explain again?

last year in SteemitCryptoAcademy by
$0.00
    Reply 2
    Sort:  
  • Trending
    • [-]
     last year 

    Traditional method mean by using extremely advance hardware or equipment miners validate transactions. But in Steem mining based on another consensus mechanism called Delegated Proof of Stake (DPoS) that allows a token holder to “stake” her STEEM and vote for “witnesses” who validate transactions and produce blocks. (in easy words Steem witness play important role in making blocks)

    Hope you get your answer

    $0.00
      Reply

      Coin Marketplace

      STEEM 0.17
      TRX 0.13
      JST 0.027
      BTC 59694.50
      ETH 2603.45
      USDT 1.00
      SBD 2.54