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Can Elrond be Mined?

February 20, 2022
< 1 minute read

Elrond uses the improved variation of Proof of Stake (PoS) that not only ensures long term security but eliminates both energy and computational waste from PoW algorithms.

Mining new Elrond tokens

Mining involves validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger, in exchange, miners are rewarded with newly minted tokens which they can choose to hold, sell or trade, thus increasing Elrond circulating supply of the asset.

Can Elrond be Mined?

Simple answer: No, Elrond cannot be mined. As mentioned above, Elrond uses the Proof of Stake consensus mechanism which eliminates the need of mining.

Mining Elrond - Is there another way?

While you can’t mine Elrond using hardware, you can mint new tokens by staking Elrond.