Mining is not possible with the $klay blockchain as it is based on a Proof-of-Stake (PoS) consensus mechanism instead of the traditional Proof-of-Work (PoW) mechanism. This means that instead of miners, stakeholders are responsible for validating transactions and securing the network. Staking is the process of locking up a certain amount of tokens in order to receive rewards. This is beneficial for the network as it encourages users to hold their tokens, adding more stability and security to the network. Although staking does not generate as much income as mining, it still provides a steady stream of rewards and can be more reliable in the long run. Furthermore, staking helps to preserve trees and wildlife, as it does not require the use of energy-intensive mining hardware.
