Qortal Project

The future of blockchain platforms

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most_common_questions [03/17/2022 06:27] – fixed java version number quickmythrilmost_common_questions [08/17/2022 23:38] – gfactor
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 Account must be level 5 or higher to sponsor (can sponsor up to 5 accounts at once) Account must be level 5 or higher to sponsor (can sponsor up to 5 accounts at once)
  
-Sponsorship requires the assignment of the Sponsorship key created by a level 5+ minter, assigned to any node. Read more about this on the [[Minting]] and [[Becoming A Minter]] wiki pages.+Sponsorship requires the assignment of the Sponsorship key created by a level 5+ minter, assigned to any node. Read more about this on the [[Minting Overview]] and [[Becoming A Minter]] wiki pages.
  
 You can register only one name per account, so 1 account = 1 name. You can register only one name per account, so 1 account = 1 name.
  
-Name registration will cost you 5 QORT+Name registration will cost you 1.25 QORT
  
-No Total Cap on QORT coin, every ‘6 months’ there is a decrease in block reward from its start at 5 QORT, by .25, until 2 QORT is the reward. Thereafter, a vote can be made with the suggestion of an increase or decrease of 0.25 to 1 QORT difference per block via vote, however, this type of vote can only take place one time per ‘year’ (in blocks). For example, if the current block reward was 3 QORT, the vote could only be: 2, 2.25, 2.5, 2.75, 3, 3.25, 3.5, 3.75 & 4 QORT. (Only up to a 1 QORT difference up or down or any 0.25 increment between.) Block reward can only be voted to as low as 1 QORT per block, or as high as 5 QORT per block. These are the minimum and maximum block reward range Qortal will EVER potentially see. We are currently at 4.75 QORT per block. See [[Block Rewards & Distribution]] for more info. +No Total Cap on QORT coin, every ‘6 months’ there is a decrease in block reward from its start at 5 QORT, by .25, until 2 QORT is the reward. Thereafter, a vote can be made with the suggestion of an increase or decrease of 0.25 to 1 QORT difference per block via vote, however, this type of vote can only take place one time per ‘year’ (in blocks). For example, if the current block reward was 3 QORT, the vote could only be: 2, 2.25, 2.5, 2.75, 3, 3.25, 3.5, 3.75 & 4 QORT. (Only up to a 1 QORT difference up or down or any 0.25 increment between.) Block reward can only be voted to as low as 1 QORT per block, or as high as 5 QORT per block. These are the minimum and maximum block reward range Qortal will EVER potentially see. See [[Block Rewards & Distribution]] for more info. You can see the current block reward on the [[Qortal Status Updates]] page.
  
 Average 60 second block time (1440 blocks per day): no blockchain is ever 'exact' with their block time, and Qortal's algorithm is not either. In reality, the block time is anywhere between 60-90 seconds. This is why we say average or approximately because it decided by an algorithm which is much more accurate than a lot of other chains. For security against 51% attacks, it gives more weight to the higher leveled accounts in terms of actually being the block signer which also determines the time to mint the next block. As a result, the algorithm is much more secure and as the number of nodes grows over time, the vulnerability for a 51% decreases. In fact, this infancy phase of Qortal is really the only time of the chain's most vulnerable state, but even then, it would take nearly all high leveled accounts to work together to successfully execute a 51% attack which is exactly why the Founder accounts are given the highest leveled accounts with more influence over the network initially. This is also why it is so important to sponsor people we feel are seeking sponsorship for the right reasons which will allow us to continue to grow our trusted number of ethical nodes. It's important to note, that we are not concerned about a 51% at this point in the project (as of December 2021). Average 60 second block time (1440 blocks per day): no blockchain is ever 'exact' with their block time, and Qortal's algorithm is not either. In reality, the block time is anywhere between 60-90 seconds. This is why we say average or approximately because it decided by an algorithm which is much more accurate than a lot of other chains. For security against 51% attacks, it gives more weight to the higher leveled accounts in terms of actually being the block signer which also determines the time to mint the next block. As a result, the algorithm is much more secure and as the number of nodes grows over time, the vulnerability for a 51% decreases. In fact, this infancy phase of Qortal is really the only time of the chain's most vulnerable state, but even then, it would take nearly all high leveled accounts to work together to successfully execute a 51% attack which is exactly why the Founder accounts are given the highest leveled accounts with more influence over the network initially. This is also why it is so important to sponsor people we feel are seeking sponsorship for the right reasons which will allow us to continue to grow our trusted number of ethical nodes. It's important to note, that we are not concerned about a 51% at this point in the project (as of December 2021).
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-1440 blocks per day = 7200 QORT per day issued every day @ 5 QORT (FOR THE CHAIN AS A WHOLE). So 4.75 QORT equals 6840 QORT per day currently! 
  
 What you earn is based on how many people you share with your account level bracket. Read here for more info on how this works: [[Block Rewards & Distribution]] What you earn is based on how many people you share with your account level bracket. Read here for more info on how this works: [[Block Rewards & Distribution]]

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