In QORT, there is a system of 'levels' that are given to those who choose to become a minter.
At first, the minter account type is the only type that can obtain and gain in levels. This means that the minters are the only ones who can vote for changes in the system, create committees, and any of the other aspects that are relevant to the leveling system.
At a later date, leveling will apply to other Qortal account types (see Account types ) giving multiple different types the ability to 'level up' in the system, and gain more voting influence, form committees, etc…
The first accounts able to level, are the minters of QORT. Minting is extremely important to the system, as it is the way that blocks are signed into the chain, and the chain progresses forward. Without the minters, the chain doesn't move.
Due to the extreme importance of the minters, they are rewarded with the block rewards on the system. The rewards of every block, are split via the following:
- Levels 1 and 2 minting accounts will obtain 5% of the block reward.
- Levels 3 and 4 will obtain 10% of the block reward
- Levels 5 and 6 will obtain 15% of the block reward
- Levels 7 and 8 will obtain 20% of the block reward
- Levels 9 and 10 will obtain 25% of the block reward
- QORA holders transitioning into QORT will obtain 20% of the block reward
-Note- QORA holders do NOT have to be minters in order to earn their transition into QORT. FOUNDERS, however, DO.
Another thing to note - if minters are OFFLINE, a larger percentage of the block reward percentage goes to the minters who are ONLINE. So be sure you keep your node ONLINE as much as possible, to both garner your earned reward, as well as your 'online block count' for leveling up.
- Founders will obtain a minimum of 5% of the block reward, and/or the 'leftover' percentage, which initially will be higher when there aren't users in all of the various level tiers, and will decrease over time as minters level up and fill the level tiers.
Above is the initial split for minters based on their level. This split is subject to modification in the future, via either a vote by the users, or if necessary, a modification by the development team. (It is the goal of the system, to eventually not need modification of anything without votes, however, in the beginning, it is likely that sometimes it will be inevitable for changes to be made without them.)
As the entire design of the minting system suggests… The importance for the minter in Qortal, is that of SUPPORTING THE BLOCKCHAIN BY BEING A FULL NODE. As a full node is very important for the overall health of any blockchain, we have decided to delegate that importance by enforcing the minters being online and sync'd as the main contributing factor. As such, since we realize this importance, being ONLINE is tracked by the Qortal Core, and every 'online block' for every minter, is cemented into the blockchain. It is impossible to 'trick the core' into thinking you are online when you are not, as every node that has a minting key assigned to it, must 'verify' itself every block, by performing a special signature tied with a timestamp, and submitted within a given timeframe (5 minutes).
As a minter, you will 'level up' as you continue to prove yourself a supporting node, and increase the count of your 'online blocks' therein. Leveling up gives you many advantages…
- You can vote with more influence when you are higher level.
- You can begin to 'sponsor' the creation of other minters, once reaching Level 5.
- You will earn more in terms of rewards as you level up.
- More advantages will come as the Qortal System continues to evolve and change and new versions are released.
Minters CAN assign their minting key to MULTIPLE NODES. The same key can be used on multiple nodes, to provide 'redundancy' for the minter of the assigned key.
In the future, there will be a 'bonus' given to those minters who have decided to provide their key to multiple nodes, and thus provide further support to the network, however, at first, there is no benefit other than redundancy for the minter.
Increase in level happens solely by continuing to prove yourself a full node, sync'd, and being assigned to a given minting key. As you do this, you will increase in level.
The following shows the amount of blocks needed, FROM ONE LEVEL TO THE NEXT. These are NOT CUMULATIVE, and must be accomplished EACH LEVEL, starting back at 0 upon level increase taking place. See below…
from level 1 to 2 129,600 blocks (or roughly 45 days of being sync’d and enabled to mint)
from level 2 to 3 259,200 blocks (or roughly 90 days of being sync’d and enabled to mint)
from level 3 to 4 345,600 blocks (or roughly 120 days of being sync’d and enabled to mint)
from level 4 to 5 488,000 blocks (or roughly 200 days of being sync’d and enabled to mint)
from level 5 to 6 691,200 blocks (or roughly 240 days)
from level 6 to 7 1,036,800 blocks (or roughly 360 days)
from level 7 to 8 1,382,400 blocks (or roughly 480 days)
from level 9 to 10 (max level) 1,728,000 blocks. (or roughly 600 days)
Initially, during the 'QORA Transition' (see The QORA transition) 20% of the overall rewards will go to the people transitioning in from QORA.