What Is Minting & Mining

By Author: Wisemonkeys
Total Articles: 277
Comment this article

MINTING:- Minting crypto is the process of generating new coins by authenticating data, creating new blocks, and recording the information onto the blockchain through a “proof of stake” protocol.
Minting in simple term means “to produce something new, especially to invent a new phrase or word”.
Money minting refers to the process of producing coins. A mint refers to a manufacturing facility that produces coins that are used as a nation’s currency. National currencies are generally minted by a country’s central bank or through an independent mint with authorization from the central bank.
MINING:- The term ‘Blockchain mining’ is used to describe the process of adding transaction records to the bitcoin blockchain. This process of adding blocks to the Blockchain is how transactions are processed and how money moves around securely on Bitcoins.

Bitcoin mining is the process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger. It is done by solving complex cryptographic hash puzzles to verify blocks of transactions that are updated ...
... on the decentralized blockchain ledger.

Minting often uses the PoS consensus mechanism, which relies on validators or stakers to verify transactions and add new blocks to the blockchain.

Mining typically uses the PoW consensus mechanism, which requires a lot of computational power and energy to validate transactions and add new blocks to the blockchain.

DIFFERENCE :-

It is said that “Knowledge is Power” and Wisemonkeys(https://wisemonkeys.info/) is the ideal platform to prove this right where this blog was posted. Additionally, when knowledge is free it should be shared. Therefore, keeping this in mind Wisemonkeys an LMS platform is developed so that people can exchange their ideas, knowledge and experiences for the wise Gen z.

SIGN UP(https://me.wisemonkeys.info/login) TODAY and upgrade your knowledge base.