Topic: When you start a new altcoin, if you stop mining does the coin die? (Read 226 times)
December 12, 2018, 07:19:11 AM
If no one runs mining then how the transaction will happen? If this doesn't work then the coin will die. You cannot stop mining unless your coin is alive, the whole stuff works only if the mining is in progress.
December 12, 2018, 06:55:08 AM
Looking at the way the algorithm works, is it safe to assume if no one is staking/mining the coin for longer than 10 minutes is it impossible to keep the blockchain alive?
For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
Yes that is what happens, if your coins is dependent on mining then there is no way that you can just stop mining the coin as that would crash your entire network. The entire blockchain basically runs on the processing power that is generated from all of the hardware from the people that are mining the coin. You would never be able to stop mining unless you want your coin to crash For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
December 01, 2018, 08:48:02 AM
first of all 10 minutes is not the default time for every coin. it is the average time between blocks of bitcoin and by extension all the coins that copied it without changing difficulty.
secondly if there is no new blocks being generated then the coin is dead but it can be revived as soon as someone picks it up. for example it can die for a whole day and then someone can start mining it the next day and build new blocks. but such network is not healthy and the coin is considered dead even if its blockchain is growing.
secondly if there is no new blocks being generated then the coin is dead but it can be revived as soon as someone picks it up. for example it can die for a whole day and then someone can start mining it the next day and build new blocks. but such network is not healthy and the coin is considered dead even if its blockchain is growing.
December 01, 2018, 08:11:57 AM
Looking at the way the algorithm works, is it safe to assume if no one is staking/mining the coin for longer than 10 minutes is it impossible to keep the blockchain alive?
For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
I think when miners stop mining a certain coin it would make it impossible to have transactions anymore, and maybe it will lead the coin to die.
November 09, 2018, 07:08:10 AM
You will have to establish your own masternode that the coin is going to work on, it will be able to run on its own without any help and then when the coins start running and people start mining it will be extra added power to the network but the coins that are being made now are coins that can actually work on their own without the need for miners
November 02, 2018, 01:45:58 AM
I think they will first dig and establish nodes to ensure the normal operation of the network. Then is the promotion operation. I don't think there's anything to worry about.
November 02, 2018, 12:31:09 AM
Like the guy above said, they will create their own masternode or they will mine themselves alone so people will keep on using their coin until there will be another miners or MN to create and will start supporting that coin.
But if the devs won't support up to the slightest part of their coin no one would ever use it and that coin is bound to its death.
But if the devs won't support up to the slightest part of their coin no one would ever use it and that coin is bound to its death.
November 02, 2018, 12:24:20 AM
I think they will operate their own masternode and mining system which are enough to the normal operation of blockchain. As far as I know, they always have a mount of mined coins before introducting to community. You let notice that. I am not a expert in tech so I hope someone show me more.
November 01, 2018, 09:32:26 PM
Looking at the way the algorithm works, is it safe to assume if no one is staking/mining the coin for longer than 10 minutes is it impossible to keep the blockchain alive?
For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
For example, with master node setup if no one is staking/mining the coins for a while, then doesn't everything start to fall into "out of sync" because nothing has happened in X amount of time?
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