I have tried in all the way to do this by using google and other things .but not find something that give me complete idea for doing this . i have created genesis block successfully and coin is working fine now but still i am not able to mine the coin. i have tried by using solo mining using cpuminer and but it giving me errors like downloading blockchain in progress etc,etc,etc. I thing i am trying in wrong way. So please give me some idea its my humble request to all of you. Any link or reference is appreciable. Thanks in advance ...
1 Answer
POS coins are not mined in the traditional sense. See, mining is a way to make people expand some energy so no one person can defeat the network by generating fake blocks and appending them to change transaction history. Miners are usually rewarded coins.
See even in POW, the coins aren't mined, they are just generated and awarded to the person who solved the computation. The get the reward because they had to expend some energy to maintain the network So you see, even in POW, the coins aren't really mined are they?
For POS, you can do an ICO and stake some coins to active wallets. Those people can then begin to use the system. You literally generate coins and issue them out and force people into this staking system in order to make any transaction on the network. Of course, we still haven't solved the distribution issue facing human kinds economic system.
Satoshi did give us a start however.
