#### What is Public Mint? Public [Mint](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/mint), also known as MintCoin (MINT), is a unique [cryptocurrency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) that operates on a Proof-of-[Stake](https://www.coinbase.com/learn/crypto-basics/what-is-staking) ([PoS](https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake)) system. It was designed with the dual purpose of serving as a self-growing store of value and a fast, efficient medium for everyday transactions. Public Mint aims to provide an eco-friendly alternative to energy-intensive Proof-of-Work (PoW) [mining](https://www.coinbase.com/learn/crypto-basics/what-is-mining) operations. It strives to create a [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain) that is not only environmentally friendly but also universally efficient for everyday transactions and as a store of value. Public Mint is a decentralized currency based on an open-source platform, meaning there is no central control over the coin. #### How does Public Mint work? Public Mint operates on a Proof-of-Stake (PoS) system, which rewards network supporters with a 5% return on their staked holdings every year. This system gives Public Mint appeal as a store-of-value with a true ROI, without rampant circulation growth. Coins held in a Public Mint [Wallet](https://www.coinbase.com/learn/crypto-basics/what-is-a-crypto-wallet) begin to "mint" new coins regularly within 20 days. This "[staking](https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/eth-2-0-staking)" produces consistent ROI that the user can see within a short time-horizon. Transaction confirmations happen within seconds, and due to the low-energy usage required to maintain the network, transaction fees are minuscule relative to most blockchains in existence. #### What are the potential use cases for Public Mint? Public Mint aims to serve as both a self-growing store of value and a fast, efficient medium for everyday transactions. It is designed to be efficient for both everyday use and long-term store of value. The fast transaction confirmations and low transaction fees make it suitable for everyday transactions, such as sending money to your favorite charity. The 5% return on staked holdings makes it appealing as a store of value. Public Mint also aims to be an eco-friendly alternative to energy-intensive mining operations, making it a potential choice for environmentally conscious users. #### What is the history of Public Mint? Public Mint, or MintCoin, is a pioneer in the cryptocurrency space, being the first Proof-of-Stake coin to convert from Proof of Work in 2014. It was created with the mission to relieve the dependency on costly blockchain networks built upon massive conglomerations of energy-hungry mining rigs. Public Mint aims to create a blockchain that is both eco-friendly and universally efficient for everyday transactions and as a store of value. Over the years, Public Mint has strived to create a more rewarding cryptocurrency use experience, focusing on both everyday transactions and long-term store of value.