i am also not sure about proof of stake.
me toopls can anyone explain this system of proof of stake in easy english for non native english speakers?
TIA
There are two aspects to your ppcoins when you want to use them as stake:
1) capacity to sign a block, and thus generate a proof-of-stake block in the blockchain
2) the reward you get when you generate a block
Regarding 1):
The MINIMUM age of an unspent output must be 30 days. Then the LIKELIHOOD to generate a proof-of-stake block depends on PPCOIN*COINDAYS. Thus the older the unspent output, the larger the block signing capacity. The LIKELIHOOD is CAPPED at 90 days. Thus you cannot increase your stake signing capacity indefinitely (a very important point for network security!!!). However, your total stake signing capacity still scales with the number of ppcoin you have > 30 days. Thus your MAXIMUM proof-of-stake signing capacity is given by PPCOIN*90.
Regarding 2):
The incentive for generating POS blocks is a reward which scales with PPCOIN*COINYEARS*1%. Contrary to the likelihood, this is currently NOT CAPPED. There are concerns that due to this, people may opt to keep their coins offline for an indefinite period of time, thus reducing the total POS capacity of the network. However, this has been recognized as a problem and a solution would be to introduce an incentive to put the POS online as much as possible. (https://bitcointalksearch.org/topic/m.1365988)
