Can someone explain the relationship between "your weight" and the "network weight" for XC ?
Also can someone explain why 50-500 is the best amount for staking ?
I see that many big wallet just stake 50k plus coins in one address. And some articles suggest that more coins generate more weight and therefore shorten the time before reward.
Can someone explain why ?
Because it's random and the more wallets you have the better chance you have of staking? could be wrong.
stake is 3.3% per year. that the amount you gonna get for 1 year of staking, its only random the times and amounts when you get them. from this point of view it doesnt matter the amount you stake in 1 wallet, you will get 3.3% interest for it in 1 year.
The benefits of having it in smaller chunks is that you can still move coins around without worrying about resetting the clock when you do need to move coins.Can someone explain the relationship between "your weight" and the "network weight" for XC ?
Also can someone explain why 50-500 is the best amount for staking ?
I see that many big wallet just stake 50k plus coins in one address. And some articles suggest that more coins generate more weight and therefore shorten the time before reward.
Can someone explain why ?
Because it's random and the more wallets you have the better chance you have of staking? could be wrong.
stake is 3.3% per year. that the amount you gonna get for 1 year of staking, its only random the times and amounts when you get them. from this point of view it doesnt matter the amount you stake in 1 wallet, you will get 3.3% interest for it in 1 year.
I relise it's 3.33% per year and i also relise it doesn't matter if you have one wallet with a larger amount or 7 with smaller because it's 3.33% of your total but the stakes are random so if you split them up you have a better chance of getting more frequent stakes,it just makes sense it's better odds, but anyways i said i could be wrong.
I look at it like solo mining. Your weight is your mining rig's hash rate. Network weight is like difficulty. Even though it says that your expected reward is in xxx minutes, it can still take longer than that. There is still variance just like mining.
For example, you are solo mining a coin and the calculator says that you should find a block in 3 days. But because of variance, you have a 99.99% chance of finding one in 30 days. Over the long run your average will be one block every three days.
stake is 3.3% per year. that the amount you gonna get for 1 year of staking, its only random the times and amounts when you get them. from this point of view it doesnt matter the amount you stake in 1 wallet, you will get 3.3% interest for it in 1 year.
Thank you guys. It all make sense now.
But why pick 3.33% per year?
Is it because this is about the current inflation rate in the U.S ?
To people from other country with much higher inflation and interest rate, 3.33% seems a little low.