Mintcoin Description
What is Minting Crypto?
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. Both new units of a cryptocurrency and Non-Fungible Tokens (NFTs) can be minted this way.
Newly minted cryptocurrency is added to the circulation to be traded, hence the origin of the term “minting” – just as we would use it to describe a government minting new physical coins.
Proof of stake is a minting method of how blocks are formed through staking as opposed to “mining” under the “proof of work” protocol. Users are called validators (rather than miners) who mint crypto.
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. Both new units of a cryptocurrency and Non-Fungible Tokens (NFTs) can be minted this way.
Newly minted cryptocurrency is added to the circulation to be traded, hence the origin of the term “minting” – just as we would use it to describe a government minting new physical coins.
Proof of stake is a minting method of how blocks are formed through staking as opposed to “mining” under the “proof of work” protocol. Users are called validators (rather than miners) who mint crypto.
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