Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Minting

share

What Is Minting?

Minting in the cryptocurrency world refers to the process of generating new digital assets and integrating them into circulation. This practice is fundamental for both Proof of Stake (PoS) systems and the creation of Non-Fungible Tokens (NFTs).

Key Aspects of Minting

Proof of Stake (PoS): In PoS systems, validators or stakers validate transactions and generate new blocks. Validators are selected based on the quantity of coins they possess and are willing to "stake" as collateral. This process is more energy-efficient compared to mining.

Comparison with Proof of Work (PoW): PoW, utilized in mining, demands significant computational power to solve cryptographic puzzles. In contrast, PoS minting requires less energy and is generally more environmentally friendly.

Minting NFTs: The process involves creating a distinct digital asset on a blockchain.

Environmental Impact: Minting in PoS systems and NFTs is seen as more sustainable compared to the energy-intensive PoW mining process.

Download app
Download app