What Is a Staking Pool?
A staking pool is a mining wallet with money from different participants in the proof of stake (PoS) system. By putting their money in that wallet, the participants increase their chance of winning the mining reward, which they can then share. A staking pool is similar, but not the same, to the proof of work (PoW) mining pool.
A Deeper Look at This Term
In the proof of work (PoW) mining, participants combine their computer hashing (processing) power to stand a better chance of winning the mining reward. In proof of stake (PoS), however, miners don’t compete with computer power, but with the amount of coins they stake (in a special wallet). To stand a better chance of winning the mining reward, several miners combine their stake into a bigger one so that they stand a better chance of winning the mining reward.
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