No discord? What kind of algo is this > PoW-PoA-PoS ? Can this be mined, and if so, how?
No Discord atm, community is all on telegram.
About the PoS-PoA question here an explanation, you can find more on the webiste
Guides to PoS or PoA are on the website too in the knowledge base section
https://prcycoin.com/knowledge-base/HOW TO STAKE https://prcycoin.com/knowledge-base/wallets/how-to-stake/HOW TO MINE POA BLOCK https://prcycoin.com/knowledge-base/masternodes-and-poa/poa-miner-guide/PoA or Proof of Audit is the chain auditing system used.
PoA miners have a responsibility to audit the emissions of the PoS (Proof of Stake) blocks that are produced by the staking nodes on the chain.
Why is this auditing important?
In a system whereby offsite collusion is possible, such as staking chains, the emissions of the chain (staking and masternode rewards) could potentially be altered by bad actors.
Proof of Audit miners have a responsibility to audit the emissions of the blocks in order to ensure that the emissions are as expected.
This allows the chain to verify that there are no offsite colluders who are attempting to force higher emissions or to force emissions to be paid out to specific addresses.
PoS (Proof of Stake) chain is a block generation (minting) system whereby any user who has the minimum required amount to stake, can attempt to guess the nonce of the next block in the blockchain. Whereas PoW (Proof of Work) blockchains require miners to have a minimum hash rate and generally very expensive high throughput computers, staking can be done by an individual on their home pc.
This makes staking a much more interactive and environmentally friendly method of block generation.
How does it work?
Staking nodes alternatively known as full nodes, download a full copy of the blockchain and then, once staking is activated, will begin to attempt to guess the nonce of the next block in the chain.
PRCY uses PoSV3 as its staking method.
PoSV3 requires the user to “lock-up” their coins as a form of collateral in order to activate staking.
The reason why this collateral is required is that staking is akin to buying lottery tickets. The more coins that are locked up, the more tickets a user has in the lottery.
Masternodes are trusted nodes that secure the network through transaction and block verification.
These nodes are considered as trusted nodes because, in order for them to receive rewards for the work that they do, collateral is required.
For PRCY, the collateral required is 5 000 PRCY.
While Masternodes cannot mint a PoS block – this is done by Staking nodes – they do assist in the verification of transactions contained in the block and the block itself.
For this work, they are rewarded with a block reward. The reward system uses a queue with a FIFO (First In First Out) mechanism that means that all Masternodes are eventually paid out.
Each Masternode that receives a reward, goes to the back of the queue to wait for its next reward. These rewards are guaranteed.
New Masternodes added to the network also join at the back of the queue.
Whilst this does not guarantee that the user will win the lottery, it does mean that they have a greater chance. This number of locked up coins also affects the difficulty.
The difficulty is quite simply how difficult the nonce of the next block will be to guess. The higher the number of coins locked up, the greater difficulty your staking node can guess.
But this difficulty cannot simply always go up, because if it did, the chain would eventually slow to a complete stop. This is why difficulty is re-targeted after each block in order to ensure that the average block time of the chain is kept in sync. This means that with PRCY – even though we have an average block time of 1 minute – sometimes more than 1 or less than 1 block may be generated in a minute.
it would mean that 300 community members bought 3 million dollars in less than one month WOW this is the best listing ever