Qortal Project

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minting

Minting

Minting, is the process of 'finding blocks' in QORT.

QORT does not use PoW or PoS like more 'traditional' blockchains, instead, uses minting.

Minting does not use high amounts of electricity, and it also does not require the users wishing to mint, to have a huge amount of coins with which to do so.

Instead, minters must prove themselves as a 'productive member' of the network, in order to be a minter.

The QORT developers believe this is a superior method in multiple ways, as it not only has no coin holding requirement for minting, thus favoring the users with more capital, but it also focuses on ensuring a strong and ever-expanding network of full nodes on the network. Leading to a much stronger default network, and not running into issues like other blockchain projects do… such as bitcoin… where there are not many full nodes on the network, and therefore most of the nodes become fairly 'centralized' only in the hands of those who run services, etc that require full nodes in order to function.

This is against the principles of Bitcoin initially put into the world. The entire idea of the system, was to be totally decentralized, in the hands of the people. The way things are going now in BTC and many other coins, is the exact opposite of these ideals. QORT aims to go back to the original Bitcoin concepts, putting the power solely in the hands of the users on the network, and maintaining a very strong network with full nodes spread out across the globe.

The method to accomplish this, is described here Becoming a Minter

minting.txt · Last modified: 2019/09/26 19:48 by crowetic