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RE: Steem, the non mineable cryptocurrency. Why?
But does steem power mining exist or that was removed too?
I didn't understand that part about the mining queue, how did the steem mining work?
But does steem power mining exist or that was removed too?
I didn't understand that part about the mining queue, how did the steem mining work?
All CPU/GPU mining was removed, the only way to generate (or mine) steem power is to become a witness and have users vote for you. I suppose I shouldn't say the only way, you also earn it via posting/curation. Steem Power itself also increases in value over time - sort of like interest, so it's also sort of stake-able.
The way mining used to work was you'd do traditional proof of work mining with a CPU/GPU, and if you found a block, your account was reserved a place within the "mining queue". The mining queue was a pool of accounts that had found a block, and once every 21 blocks, the miner at the top of the list would be allowed to "witness" a block, and then be removed from the mining queue.