Topic: ★[ANN]★[GHC] Ghostcoin ☢ 4 Exchanges ☢ Fast ☢ POW/POS Hybrid ☢ OpenSSL Patched ☢ - page 12. (Read 98801 times)

Development Fund


Target 3BTC for Development of a new wallet, new wallet should contain but not limited to;

- New Logo
- Nice Wallet
- Extra Features


GHC address: gFUK51BQehDiVFXtiP7CTrUDet86oFchx3
BTC address: 1EUgvnG17UpP2Ennz5j4nLHYe8tzMd3gxh

I'm not in a position to know who you ask and couldn't answer this, but any decent developer could answer that by looking at the code.
I have been involved into many coins creation (not this one and haven't read the code yet) so I can give you the following info:

PoS blocks are inserted in the chain instead of PoW (mining) blocks. Now if you ask when a certain wallet will start creating PoS, well it's not random when it will begin to try to create a PoS block, but it is random when that PoS block will be accepted in the blockchain.
It's exactly like solo mining. The fact that you may have found a block, doesn't mean that it will be accepted for sure (thus the orphaned blocks). When an incoming transaction of your wallet reaches the maturity state (which means that the minimum amount of time holding these coins has been fulfilled) your wallet will start mining in order to create a PoS block. That block contains a transaction that has the coins that were in stake + the interest.
Of course, other wallets are doing the same and at the same time, miners are finding blocks. So which block should dominate?
Well, PoS blocks have a higher importance than PoW blocks, so it's very easy to understand that PoS will always replace PoW blocks (thus in PoW/PoS mixed coins there are so many orphaned blocks from mining - because they get replaced by PoS blocks).
What about PoS blocks that were created by many wallets at the same time, having the same base block (for example block with height 1454). This is were difficulty is getting into the game.
Although PoS blocks have very low difficulty (so that it doesn't need too much computational power to create them), they do have a difficulty measurement and the block with the highest difficulty wins the race.
Now, the difficulty number is not based on CPU power or how many cores this has, but how old is the transaction with the coins at stake. At PoS, there is a minimum and a maximum age.
For example, 20 days minimum and 30 days maximum. That means that if someone's wallet finds a PoS block for a transaction that is 21 days old (hours and minutes count but let's not put that in this example) and another wallet finds a PoS for a transaction that is 25 days old, then the 25 days old transaction will create a higher diff PoS block, which means that it will win the race.
Now, if a 3rd PoS block was found that was 45 days old, the diff would count only for the maximum amount of time (30 days for our example).
Other factors that affects difficulty could be the amount of coins in that transaction, the amount of time passed since the last PoS block this wallet generated, etc.

I hope this make things a little simpler, regarding the PoS and how it is mined/calculated.