What is the difference between minting and mining?

Minting and mining are two distinct processes related to different aspects of blockchain technology:

  • Minting: It involves creating new digital assets like NFTs or cryptocurrencies. Minting generates unique tokens with their own properties and adds them to the blockchain. It establishes the initial supply and is done by the creator or owner of the asset.
  • Mining: It ensures the security and integrity of the blockchain network. Mining is associated with cryptocurrencies that use a proof-of-sense mechanism. As a reward, miners receive newly minted cryptocurrency tokens. Mining requires substantial computational power and energy consumption.

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