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Can cardano be mined?

jackson Answered question August 13, 2018

Yes it can be mined. It should also be noted that the the Cardano blockchain highly scalable because mining Cardano (ADA) is more energy efficient than other cryptocurrency models in the industry. This method of mining ADA was proposed by Professor Agelos Kiayias of IOHK.
Firstly, it was proven through mathematical models and then it underwent peer review to ensure reliability. ADA owners are able to become slot leaders through this method. Slot leaders is a post that is equivalent to miners on PoW (Proof of Work) systems.
The ADA owners by being slot leaders can now create new blocks, perform and validate new transactions to ensure authenticity. Who can be slot leaders? Any node on the network that holds a positive stake value qualifies to become a slot leader.
Using the platform’s Proof-of-Stake (PoS) algorithm, the slot leader that creates the next block is selected at random but also proportional to the stake they hold in the platform. The relative value of their stake in the platform is calculated as a percentage of the tokens on a specific node per the total number of tokens in the system.
Once a stakeholder creates their first block, they officially become slot leaders. They are now responsible to check the transactions that have been verified by other network nodes, generating new blocks for every batch of transactions, allocating private keys for each block and availing it on the public chain.

jackson Changed status to publish August 14, 2018