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minting_overview [12/04/2021 15:58] – gfactor | minting_overview [04/27/2023 18:54] – gfactor | ||
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====== Minting Overview ====== | ====== Minting Overview ====== | ||
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- | **Where | + | We do not MINE, we MINT! Minting, is the process of ' |
- | At the current time, all sponsorship requests should be posted in the # | + | |
- | **How do I mint? How does this work?** | + | Qortal |
- | First, you must be a Level 1 or higher to mint. This means for new accounts, you must get sponsored, then run a node for first 7200 blocks. You then reach level 1 and have a minting | + | |
- | **What if I want to switch nodes, i.e. from one laptop | + | Bitcoin was intended |
- | No. The system | + | |
- | **How can I check my level and number | + | Minting does not use high amounts |
- | The Qortal UI displays your level and " | + | |
- | **What do I need to do after I have minted 7200 blocks under sponsorship? | + | Instead, minters must prove themselves as a ' |
- | See [[Becoming A Minter]] page for a step by step guide. | + | // |
+ | // | ||
+ | ===Minting Overview Explanation=== | ||
- | **Is there any benefit of running more than one node?** | + | Qortal' |
- | You will not earn more QORT for multiple nodes, but you will ensure that your account is always synced | + | |
- | **What is a self-share? | + | This is against the principles that Bitcoin initially put into the world. The entire idea of the Bitcoin system was to be totally decentralized and put the power in the hands of the people. The way things are going now in Bitcoin and many other projects, |
- | This is a term given to creating your own ' | + | |
- | **Will the Qortal Network ever work with centralized exchanges? | + | ===Minting Quick Bullets=== |
- | No! The Qortal Network should never need nor want any support from centralized control. Even if a centralized exchange chooses to freely and of their own accord, list QORT coin, the Qortal Network will neither acknowledge nor support said listing, and will continue to urge users to maintain their own sovereignty, | + | |
- | **How will QORT coin gain value?** | + | |
- | As development and adoption of Qortal continues over time, so does the value and applicability | + | * Minting rewards are NOT reliant upon being the signer |
+ | * Every minter is rewarded EVERY BLOCK in Qortal (approximately 60 seconds). | ||
+ | * To become | ||
+ | * The limitation of creation of minting accounts is a security feature to combat gaming | ||
+ | * The period of running a node to become a level 1 is set at 7200 blocks (after obtaining sponsorship | ||
+ | * Other portions | ||
+ | * The period to become | ||
+ | * The highest level for a Qortal | ||
+ | * The system VERIFIES online minters, utilizing the minting keys. So you MUST STAY ONLINE to be rewarded. | ||
+ | * The whole point of minting is to GROW AND MAKE THE NETWORK STRONG. | ||
+ | * Only a node that is YOUR NODE, can be used as a minting node. You cannot access the assignment | ||
+ | * Each 2 level ' | ||
+ | * As your level goes up, you eventually move into higher leveled tiers and your shared reward percentage increases. | ||
+ | * The highest level for a Qortal account is level 10. | ||
+ | * You do not lose credit for blocks minted if your node is down - meaning you do not have to run 7200 straight. Your blocks minted are recorded | ||
- | **Do I have to be a minter to use the Trade Portal?** No. You must run a node to utilize the Trade Portal and conduct true peer-to-peer trades, but you do not have to be a minter (level 1+) to do so. See [[The QORT Coin]] wiki page for a guide on how to buy QORT in the Trade Portal. | + | The method |
- | **Does it matter if my computer sleeps?** | + | **What is Qortal & How to become a Qortal Minter video:** https://www.youtube.com/ |
- | Your node will not stay synced or sync completely if your computer goes into sleep mode. You will need to turn off anything that stops your computer from processing. | + |