You present a very good explanation all the way up to explaining how a virtual miner actually creates value for the holder of the mining token. Even a link to a white paper on the topic would be helpful.
As you said, a physical mining machine is solving a difficult problem (mostly by brute force) that securely adds a block of data to the blockchain and in return, the system rewards the block-finder. But what does a virtual miner do to earn its rewards? If it is just another form of staking, then it really isn’t mining in the same sense that a proof of work (PoW) miner does. I realize that is really your point, but fell short of completing the argument, unless I missed something.
If a virtual miner is more than just a glorified staker, how is it different? For example, besides the rate of return, how is leom different than powering up basic leo? What additional ’work’ is it doing to earn its keep, so to speak.
That’s what I was hoping to learn from your otherwise informative post.
Hi
Thank you for the compliment, and for the questions.
I will find the answers and create links or new post
Thank you for reading my post and I appreciate your feedback.
These are very good points. I must research these questions because I assume these are mining since they are competing for blocks and I assume they are helping to secure the network. But know I have two assumptions and no supporting data. This leaves one very big question; How do they actually work?
I will pursue the answer.
Thanks