Hello!
I sent you a PM with wallet adress on th 6-th for the Giveaway but I-m not on the exel list yet! I hope you dont forget me !!!
Sorry I will look into that for you.
I definitely remember seeing your name in the list...
There you are, #132
Press CTRL+F
The search function is your friend I'm a little confused as to how exactly POS works. .
How how long does it take for coins to become available for stake? From what I read most pos coins force users to have coins remain in there wallets for 1 month before this is available? Is this the case?
Once coins are in stake. How often is payout? Do you only get paid out randomly, when your stake finds a block and you keep everything in the block? If so what is the block time? Or does everyone get paid out at the same time once someone finds a block and you all get a percentage equal to the % of staking coins you own?
Hey ctenc001,
luckily most coins dont require you to hold your coins hostage for a month
Right now you can stake your coins every 6 hours. max coin age is 30 days but try not to remember those numbers because we are going to be changing them before the giveaway launch on the 31st.
The idea is, after 6 hours if your wallet is open and unlocked (staking) you have a chance to mint coins. As time goes on your chances of staking increase. The % of coins you get is dependent on how long you've been staking your coins. This means, with a 50% a year PoS reward, you will get 4.16% a month. So technically you only need to open your wallet once a month, unlock it and stake to receive your reward. If however, you leave your wallet for two months and do not stake, you will have missed out on a months worth of %.
I've identified a flaw in the typical PoS model that we need to take into account though, so changes will be made to that system.
I actually haven't had a minute to finish up the wallet over the past two days due to internal team issues but I'm hoping to get that sorted out and get back to work on the wallet coding before the end of the week.
I hope everyone can sit tight and the ugly gfx bugs don't burn holes in their retinas until then.
I've got plenty of updates for the project later today, stay tuned.