Difference between staking and mining? It seems that one can mine bitcoin to obtain more bitcoins, whereas coins like reddcoin allow staking to have more reddcoins. What is the difference between these two processes ?
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.