#8 POS mining

POS Mining also known as Proof Of Stake, is the process of mining, Or Minting, coins. POS is most widely referred to as Staking, some coins are also referring to it as Forging.The idea is to accumulate coins and hold them in an active wallet which will process transaction create new blocks and reward the holder for the work they have done.In POS mining there are Competitive wallets and Passive wallets.Competitive wallets work very similar to how Bitcoin mining works in the sense that you are competing with other miners on the network for a reward in what some call a lottery like system. The more powerful your mining blocks are the better the chance you can get the reward. Passive wallets are much less competitive and generate rewards at a specific time no matter how many people are mining the coin. Some of these have max rewards, some are set up against the difficulty, and other just give a flat rate of return.In competitive wallets it is good to research the wallet, talk with the community and set your blocks up to be as competitive and rewarding as possible. Setting up blocks is done in the Coin Control panel, and you put a certain amount of coins in one input, for example if you have 100,005 coins in a wallet you will use coin control and send 10,000 coins to that same address 10 times to create 10 blocks of 10,000 coins inside your wallet. Once you have an idea of the block sizes recommended then it is best to do your own diligence and test different sizes out until you find the size you want that gives you the reward you would like to generate. Sometimes setting block sizes to large will be a waste of coins, so be careful how large your blocks are, having the largest blocks on the network does not always mean you have the most rewarding wallet per coins held on the network. Equally having the smallest blocks and a lot of them may not be beneficial either, which could be creating blocks to small to gain enough weight on the network to generate an income and would also be a waste of coins and weight.Weight is the amount of power you hold due to your coins, and a lot of coins have a maximum weight on a block of coins. This means after a specified time (30 day or 90 days) those coins in that block stop gaining weight on the network. The longer it takes for a block to stake, the less reward is gained on that block. So setting up Blocks and sizes in the blocks is very important to how much you can plausibly generate from any wallet you use. POS is one of the most efficient ways to mine coins. It consumes very little hardware resources, and you can mine multiple coins on one server or computer.