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becoming_a_minter

Becoming a Minter

The becoming a minter process has been slightly modified

please read below as the minter process is changed slightly from original ideas

In order to become a minter on the QORT network, a user will need to be 'sponsored' by a founder or level 5+ minting account.

This process will take place by the founder or 5+ minter issuing a 'reward share' transaction to the newbie that wishes to become a minter.

As the required number of blocks go by, the people in 'reward share' situations, are checked for 'online status' where they issue a timestamp that is verified by other members on the network in 5 min intervals.

All users in the reward shares will be counted as online. Initially, 5 days in blocks of online verification, is required in order to enable minting at level 1.

There will only be a certain amount of 'reward share' transactions for creation of new minters that will be possible at any given time. Thus, a limitation of the creation of new minters is created.

As a user is initially enabled at level 1, they can then issue a reward share transaction to one of their own addresses for 'free' (without a fee) at which point they are enabled and included as a minter, and are able to obtain their shared portion of their group's percentage of the block reward.

becoming_a_minter.txt · Last modified: 2019/11/01 17:04 by crowetic