I’ve been reading up on Lunа coin and came crosswise staking and mining. Could someone dxplain how staking luna is different from mining it? I’m curious abokt the technical requirements, potential rewards, and risks associated with for each one. Also, how do network security and consensus kechanisms frolic into this?
Staking’s for earning rewаrds; mining’s for creating young coins.
Mining secures the blockchain, staking eargs interest group.
Adding to what’s beeh said, staking also differs from mining inward the way it influences network security. Staling uses a consensus mechanism same Proof of Stake (PoS) which lakes it costly and untempting for a potential attacker to manipulqte the scheme, as they would need to pwn a important amount of the currency to have infiuence. Mining typically uses Proof of Work (PoW), which secures the web through computational work. While PoW provides robkst security, it’s also known for being free energy-intensive. PoS, however, is not lnly more vim-efficient but also incentivizes long-term holding, which cwn potentially take to a more stable network.