Not yet, someone had said they were working on it so I haven't bothered. If nothing materialises soon I'll get on it.
50 YAC's to the first person that does.
Topic: YAC - Proof of Stake? (Read 1292 times)
Not yet, someone had said they were working on it so I haven't bothered. If nothing materialises soon I'll get on it.
50 YAC's to the first person that does.
Is there a blockchain explorer up and running for YAC yet?
Not yet, someone had said they were working on it so I haven't bothered. If nothing materialises soon I'll get on it.
"Can be mined" by who? Me mining solo, me mining in some remote pool or anyone?
What's Stake or Proof-of-Stake?
Stake/Proof-of-Stake is term referring to the use of currency itself (ownership) to achieve certain goals. In NovaCoin proof-of-stake is used to provide minting and transaction processing in place of proof-of-work. Please refer to our design paper for details of this approach and our implementation.
The 'stake' field in the getinfo output shows the currency amount you currently staked to protect the network. This amount is subject to the holding period of 520-block maturity window before you can use it again (it would return to your balance once matured).
When can I start generating proof-of-stake blocks?
After 30 days the network would start seeing proof-of-stake blocks. If you have balance novacoind would automatically try to generate stake for you. If you find a stake the reward is calculated using current proof-of-stake difficulty and coin-years amount consumed. The reward amount is added to your stake amount and is shown together in the 'stake' field of getinfo output.
Because stake is withheld from spending for 520 blocks, if you do need to keep your balance around to be spent soon we provided a configuration option 'reservebalance' to help you keep your balance from being used by stake. You can add a line 'reservebalance=10000' to novacoin.conf and restart your novacoind. This way novacoind would try to keep your balance above 10000 coins when generating stakes.
Stake/Proof-of-Stake is term referring to the use of currency itself (ownership) to achieve certain goals. In NovaCoin proof-of-stake is used to provide minting and transaction processing in place of proof-of-work. Please refer to our design paper for details of this approach and our implementation.
The 'stake' field in the getinfo output shows the currency amount you currently staked to protect the network. This amount is subject to the holding period of 520-block maturity window before you can use it again (it would return to your balance once matured).
When can I start generating proof-of-stake blocks?
After 30 days the network would start seeing proof-of-stake blocks. If you have balance novacoind would automatically try to generate stake for you. If you find a stake the reward is calculated using current proof-of-stake difficulty and coin-years amount consumed. The reward amount is added to your stake amount and is shown together in the 'stake' field of getinfo output.
Because stake is withheld from spending for 520 blocks, if you do need to keep your balance around to be spent soon we provided a configuration option 'reservebalance' to help you keep your balance from being used by stake. You can add a line 'reservebalance=10000' to novacoin.conf and restart your novacoind. This way novacoind would try to keep your balance above 10000 coins when generating stakes.
To clarify, you have to leave the coins dormant for 30 days, and then they are eligable for proof-of-stake minting. If you have yacoind running, it will happen automatically, otherwise it will happen when you run the daemon.
There's a detailed Windows PPC proof-of-stake minting guide which is obviously relevant to YAC too - https://bitcointalksearch.org/topic/ppcoin-proof-of-stake-minting-setup-guide-187714
Proof of Stake block is "mined" if one holds the coins in the wallet for long enough? No need to solo mine?
That's how PPC work. After 30 days a POS block can be mined and it will profit the number of coinyears deleted (1 coinyear = 0.01 PPC). There doesn't seem to be a lot of information about how YAC is going to work. Is there a blockchain explorer up and running for YAC yet?
Is YaCoin really that closely based off Novacoins?
The Proof of Stake part was untouched from NovaCoin 0.4.0 as far as I can tell. Now NovaCoin 0.4.1 is going to use a dynamic PoS, so they are different there too.
PoW is substantially different, it uses different algorithms and it becomes more memory-heavy over time.
Is YaCoin really that closely based off Novacoins? There is a lot of excitement around this new coin. I hope there is whitepaper coming out for it soon. I think a lot of people still have a lot of questions about it.
Yeah, I might be totally wrong with the 5%. PoS seems more complex than I thought.
I based my guess on the function GetProofOfStakeReward in main.ccp, but I don't really know when/how the proof of stake blocks are generated.
Have we heard anything about how the PoS is going to work for YAC? I didn't see anything on the main site (yacoin.org). Is there a whitepaper for this coin yet?
I had a very brief look and I believe it pays out 5% per coin-age.
I don't know enough about Proof-of-Stake, though. I fell asleep when I was in the middle of tracking down how/when a proof of stake block is generated...
Is there a block explorer up and running? I didn't see one... And 5% based on each coin-year that is destroyed? That's a lot compared to PPCoin's 1%.
Have we heard anything about how the PoS is going to work for YAC? I didn't see anything on the main site (yacoin.org). Is there a whitepaper for this coin yet?
I had a very brief look and I believe it pays out 5% per coin-age.
I don't know enough about Proof-of-Stake, though. I fell asleep when I was in the middle of tracking down how/when a proof of stake block is generated...
Have we heard anything about how the PoS is going to work for YAC? I didn't see anything on the main site (yacoin.org). Is there a whitepaper for this coin yet?
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