Cryptocurrencies using the Proof of Stake algorithm cut out mining completely. The coins are distributed to people on the launch, and those users can ‘Mint” coins by letting them mature in a wallet. The minting process involves holding coins in a wallet for up to a month and then unlocking the wallet and staking those coins. Users that stake will earn a percentage of the amount of coins they staked into their wallets. This algorithm allows users to generate more coins without the need of any hardware or high electricity costs.

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