Many newer blockchains use “Proof of Stake” (PoS) systems that rely on market incentives, instead of "Proof of Work" which is the energy hungry variety. Server owners on PoS systems are called “validators” — not “miners.” They put down a deposit, or “stake” a large amount of cryptocurrency, in exchange for the right to add blocks to the blockchain. Validators are chosen by an algorithm that takes their “stake” into account. Removing the element of competition saves energy and allows each machine in a PoS system to work on one problem at a time, as opposed to a Proof of Work system, in which a plethora of machines are rushing to solve the same problem. Additionally, if a validator fails to behave honestly, they may be removed from the network — which helps keep PoS systems accurate.
Granted, I have no idea what system these guys use - but don't write of the technology just because it has the B word involved.
