Is it possible to mine for new coins on the network or do you need to purchase them from an exchange or broker first?
No, it is not possible to mine for new coins on the Tezos network.
The Tezos network uses a consensus algorithm called Liquid Proof-of-Stake (LPoS) which does not require miners to generate new coins. Instead, users can earn rewards by staking their existing coins and validating transactions on the network. This means that users must purchase their coins from an exchange or broker before they can begin staking and earning rewards.
AI created text. No guarantee for the correctness of the content.
