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I know pretty well how the bitcoin and ethereum blockchain works respectively, but I'm seeing a lot of new cryptocurrencies with no mining system. As far I'm aware the blockchain needs miners to give security to transactions, and the miners do their job because of the coin mining reward, so it makes sense from an economic and tech point of view.
But all those cryptos without mining cannot ensure transactions, right? Doesn't it opposite to the basic bitcoin philosophy? Can anyone provide also a technical answer to blockchain transactions security management, without miners?
Thanks!
2Rather than the vague "I'm seeing a lot of new cryptocurrencies with no mining system.", can you actually reference/link to one of them? – abelenky – 2017-06-10T12:03:18.683