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Proof-of-stake mining is similar to Proof-of-work at a technical level. It involves a sort of lottery, similar to proof-of-work, but the difficult of this lottery is weighted depending on how many coins you are staking. The overall process for "attempting" to mine a PoS block is like so: Add a coinbase transaction, and a staking transaction (in most coins, ...


Mining requires doing work (i.e. using electricity to power machines that perform the proof of work) to produce blocks and earn coins. Staking generally requires those that are staking to lock up their coins for some period of time (i.e. can't spend the coins) for a staker to have a chance of being selected to produce a block and collect the block reward.


Here are some closely related observations on the topic that might help other newbies like me to understand PoS. I spend a couple of hours trying to put things together and to be honest coming from the PoW background it was quite difficult to really grasp why PoS works the way it does. Especially difficult to understand was how does PoS prevent gaining ...


From the wallet cogwheel menu select the bundlers page and start a bundler. You will need to specify your passphrase in order to run a bundler so you'll have to run it on your own node. You also need the node admin password in order to list the bundlers. Here is some additional discussion


On your linux box you can type the following: curl -d requestType=startForging -d secretPhrase="PASSPHRASE" http://localhost:7876/nxt -- Without curl: wget -qO- 'http://localhost:7876/nxt?requestType=startForging&secretPhrase=sssecrrretPhPhPhphrrrassssse' You can use startForging, ...


You should lease the balance of your main account to a second account which has only a small balance. Submit this leasing transaction on your local workstation. See: Now setup a public node and start forging using your second account. By doing so, you never have to expose the passphrase of your main account to the ...

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