Hi experts,
I have some general questions regarding Diamond coin system. If you could help me trying to understand, that would be really kind of you.
- 1) I would like to know how stalking works in detail. What is my wallet doing when staking is active? It’s not about computer performance, because this is proof of stake and not proof of work, where you need high end computers for mining. But what are you doing instead? And is staking important for the network?
same as POW protect the network because not one entinity in a row create a new block but in fact many different can do and all control each other that the rules are followed correct
same way POS works
in both cases its a lottery and the more hashrate (POW) or coins (POS) u own the more likely it is that u win the lottery and u can create the next blocks and claim the blockreward
POS3 works similar to POS just replace hashrate with coins
POS is ultimate important for network its securing the blockchain its the core consensus mechanism of DMD Diamond
compared to how centralized POW blockproduction is on a few pools
the blockproduction in DMD via POS is way mopre decentralized and secure
and the biggest POS wallet like the guardian of network is the reactor which is under DMD Diamond Foundation control
as a healty POS security backbone
- 2) I would like to understand the reward system for staking. I already know that you differ between masternodes (>10000 dmd wallet) and all others. Masternodes get more reward than others. Ratio ist 0,65/0,35. But what is the reason or the idea behind that?
the values 35% 65% where the result of the desired amounts of coins in each sector
if u want to have 50% of total coins inside masternodes 25% inside POS and u expect 25% of coins be in offline wallets or exchanges
then the result is 35% 65% of reward split
it means if less than 50% of total coins are in MN then MN earn more and u have a pull effect that more people create a MN
it means if less then 25% of total coins are in POS then POS earns more and u have a pull effect and more people will run their coins in POS mode
- 3) This leads me to the next question: what does 0,35 respectively 0,65 mean? Of what? Of a new block?
% of the blockreward towards blockfinder (POS) and masternode (MN)
- 4) if you don’t need much computer performance to find new blocks, why does it take so much time to find new blocks? What is the technic of decelerate?
we said its a lotterly but how easy u win in a lottery deepens on how many numbers u need to have correct
POW and POS same have the goal to reach a target blocktime
bitcoin as example try to reach 10 min average blocktime
diamond try to have 135 sec blocktime
to reach that blocktime goal u have to make win the lottery harder if the network find a winner to fast and easier if blocks are found to slow
in POW like bitcoin this happens by make the calculation harder/easier
in POS3 like diamond it happens by make the coin pile size that boost the win chance have less/more effect
- 5) last question is about payout of the reward system. When does this happen? Daily? Weekly? Monthly? Quarterly? How can you see the payout? Is it like a transaction you are receiving? Or does your amount just rise? How many dmd coins do you get for staking? Can you calculate the expected reward? An example would be helpful. I have 43 dmd coins for instance. What can I expect? What can I expect if I have 200 dmd?
answered already
As you can see there is much to learn for me!
Thanks guys!
we all started fresh noone become a master without being a apprentice first
as the DMD Diamond book state
https://www.amazon.com/Diamond-Phoenix-Crypto-Christopher-Thompson/dp/1977849806/the first sentence i posted on bitcointalk 2013 was
"when i own 1000 DMD how much DMD can i earn in a year"
