(by have coins in ur wallet that are old enought to compete for POS and wallet unlocked (for mining at least))
(because u are a big miner and have lot 1 DMD in wallet u wont be minting below 30 days age of ur coins
How is POS working:
there is a easy and a complex answer
easy:
each year ur coins will increase as much as the pos reward percentage say if u regulary (once a month) open ur wallet in minting mode for at least a day
complex:
following is true for DMD POS
not all coins use the same
and some (most) coin devs dont full understand what i describe here
and so their code isnt utilizing POS in its full power or values not adapted to fit their coin amount
to test other coins just ask them to explain u how POS works in detail
u will get lot different and most of them are wrong answers (copycoder alarm .....)
pile
coin weight
coin age
burn coin age
min time
max time
split stake
group stake
pos difficulty
pos block time
pos reward
pile = if u check coin control u see u have lot pile of coins
each pile try to POS on his own (only group stake act different)
coin weight=determined by amount of coin in pile and his age used to calculate ur chance to mint coin weight stop to grow once ur coins reach max time is reached (this is to prevent someone gather lot coin weight and be able do some kind of attack(no guide for attack here...) (which wont work anyway at DMD because of hybrid security))
coin age=determined by amount of coin in pile and his age used to calculate ur reward when u mint successful
coin age doesnt stop to grow and so do ur rewards get bigger and bigger until
u mint successful then ur coin age of the involved coin pile is set to zero
burn coin age/coin weight happens also for all coins in a pile which is involved in a transaction
that mean that pile get his coin weight and coin age reset to zero
if u have only one big pile of coins and u send every 5 days a little outgoing transaction
u will never ever be able to mint because u always destroy the coin weight before its big enough u get a minting possibility
min time is 7 days for DMD which mean once ur pile of coins is at least 7 days old he can compete to try mint a block if ur wallet is unlocked
between mint time and max time every successful minting will be split stake
max time is 30 days for DMD which means coin weight dont grow even if ur coins are older than 30 days (but ur coin age grow without limit even after 30 days)
any minting with coins older than 30 days will use group stake mechanism
split stake means when a pile of coins successful mint a block and is below 30 days old he will be split in 2 pile of coins where both pile will be increased with half of pos rewards u earned
group stake will be attempted by coin pile older than 30 days the they no longer are forced to try mint alone but can group with other coin pile also older than 30 days
up to 100 DMD can group up and try to mint together. if successfull they merge together forming a single pile and get the earned pos rewards added to that pile. coin pile above 100 coins cant group but when they mint the group stake mechanism will prevent them from beeing split in 2 pile
pos difficulty u can see when u enter getdifficulty into console
it determine the chance that u will be able to mint
similar to POW but this time not pure hashrate of complex hashes and luck determine who able create next block
instead simple hashes created by wallet via cpu and modified with the coin weight of pile which try to mint compete against each other on the network
pos block time a diff adjusting will try to raise and lower pos difficulty to reach target pos block time (in case of DMD its 600sec because of our hybrid POW/POS setup we need no faster POS block generation and it helps keep ur wallet clean of POS spam (lot small pos rewards) instead u generate less but bigger minting rewards.
pos reward determined by coin age and actual pos stage of coin
example 50% per anno pos reward means a pile with 1000 dmd and age 30 days will if he mint successfull be
1000+(1000/100*50/12)= 1041.67 dmd
why?
why POS works this way have the reason all this mechanics try to make sure coin opile size is small enought to make sure always someone try to mint and so we never run out of attempts to solve a POS block. and the group coin mechanic try to counter that coins get endless split and in the are so small pile which have hardly a chance to mint successfull
a POS coin which utilize split stake but not group stake will run sooner or later in troubles where people forced to manually do something to fix the mess
DMD POS setup allow endless POS without any manual merge of coins or transactions between addresses are required to get rid of the lot little coin pile
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im pretty sure this answer is overkill for whatever u wanted to know
but it describe the prove of stake mechanism as detailed as possible
and i lead to more confusion in the face of people i explain it
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BELOW Coin specs so u see how POS changes over time:
Proof of Stake
From 450,000 to 1,500,000 of total coins PoS is set to 50% per annum.
From 1,500,000 of total coins PoS is reduced to 25% per annum.
From 2,500,000 of total coins PoS is reduced to 5% per annum.
From 3,500,000 of total coins PoS is reduced to 1% per annum.
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