Qortal Project

The future of blockchain platforms

User Tools

Site Tools

Trace:
becoming_a_minter

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revisionPrevious revision
Next revision		Previous revision
becoming_a_minter [01/06/2024 18:09] – magic_inkbecoming_a_minter [10/28/2024 21:58] (current) – crowetic
Line 3: Line 3:
 {{:qortal_official_logo_transparent_.png?400|}} {{:qortal_official_logo_transparent_.png?400|}}
  
-**Please note: Due to a change made in December 2023 to improve network performance and allow the development team to work on a number of essential upgrades, the way block credits are paid has changed from a block by block credit to a credit every 1000 blocks. As a result, while the 7200 still applies a user will need to run their node with sponsorship for approx 9000 blocks in order to reach Level 1. + 
-It is important to wait until Level 1 is shown.**+---- 
 + 
 +====== NOTE - All of this information is soon to become irrelevant with the issuance of 'mintership' and the related updates to Qortal. Please be aware that sponsorship is no longer a thing on Qortal. Further updates will come in time, until then you may check the following links for information... ====== 
 + 
 +[[https://qortal.link/crowetics-proposals|https://qortal.link/crowetics-proposals]] - internet link 
 + 
 +===qortal://website/crowetics-proposals===  
 + 
 + Qortal direct link above 
 + 
 +====If you are accessing this wiki on the QDN copy, you can simply go to the new tab page in the Qortal UI, click 'ADD NEW LINK' then click 'Website' and type the name 'crowetics-proposals' to obtain a link to the page directly on your new tab page. ==== 
 + 
 + 
 +---- 
 + 
 + 
 +**Please note:** Due to a change made in December 2023 to improve network performance and allow the development team to work on a number of essential upgrades, the way block credits are paid has changed from a block by block credit to a credit every 1000 blocks.  
 + 
 +While the 7200 blocks minted necessary to reach level 1 hasn't changed, the method of crediting minted blocks and QORT HAS, which means, depending on when the sponsorship key was added to a node, and the number of blocks that have actually gone by, the amount of blocks that will actually be required may vary from 8000 to 9000. 
 + 
 +**Therefore it is essential to wait until Level 1 is shown, and not rely only on blocks minted.** 
 + 
 +---- 
  
 In order to become a minter on the Qortal Network, a user will need to be 'sponsored' by a founder or level 5+ minting account (if you did not purchase a QORTector device before launch of Genesis or are not a QORA Forger you’ll require a sponsor). In order to become a minter on the Qortal Network, a user will need to be 'sponsored' by a founder or level 5+ minting account (if you did not purchase a QORTector device before launch of Genesis or are not a QORA Forger you’ll require a sponsor).
Line 14: Line 37:
 All users in the reward shares will be counted as online. Initially, the newly sponsored account will be a level 0, with a reward share key provided by a sponsor. The sponsor's reward share key is added to the sponsee's node and will process the first approx 7200 (currently 9000 in effect) 'online blocks' without any block reward in order to become level 1. All users in the reward shares will be counted as online. Initially, the newly sponsored account will be a level 0, with a reward share key provided by a sponsor. The sponsor's reward share key is added to the sponsee's node and will process the first approx 7200 (currently 9000 in effect) 'online blocks' without any block reward in order to become level 1.
  
-**Please note:** Sponsors do not earn anything for sponsoring others. Sponsors do not earn additional block rewards nor additional blocks minted count. The sponsee does not earn any block reward during the level 0 period of minting to reach level 1. This is simply the time for the sponsee to prove oneself to the network and become a level 1 minter. The 9000 blocks are credited to the sponsee permanently in the ‘Total Blocks Minted’ record. +**Please note:** Sponsors do not earn anything for sponsoring others. Sponsors do not earn additional block rewards nor additional blocks minted count. The sponsee does not earn any block reward during the level 0 period of minting to reach level 1. This is simply the time for the sponsee to prove oneself to the network and become a level 1 minter. The blocks minted during sponsorship are credited to the sponsee permanently in the ‘Total Blocks Minted’ record. 
  
-Once a user has ran a node for approx 9000 blocks and the account becomes Level 1, the user can then generate his/her own reward share at which point they are enabled (officially a minter on the network) and are able to obtain their shared portion of the block reward (refer to [[Block Rewards & Distribution]] to learn more about the rewards system).+Once a user has ran a node for 7200 blocks **and** the account becomes Level 1, the user can then generate his/her own reward share at which point they are enabled (officially a minter on the network) and are able to obtain their shared portion of the block reward (refer to [[Block Rewards & Distribution]] to learn more about the rewards system).
  
  
Line 112: Line 135:
 2. Click '+ OWN REWARDSHARE' at top right: 2. Click '+ OWN REWARDSHARE' at top right:
  
-{{:1._rewardshare_tab.png?800 |}}+{{:1._rewardshare_tab.png?600 |}}
  
 3. Click 'ADD': 3. Click 'ADD':
  
-{{:2._own_rewardshare.png?800 |}}+{{:2._own_rewardshare.png?600 |}}
  
 4. Copy the Rewardshare/Minting key that comes up: 4. Copy the Rewardshare/Minting key that comes up:
  
-{{:4._copy.png?800|}}+{{:4._copy.png?600|}}
  
 5. Click 'CONFIRM' and wait. A message saying “Reward Share Successful!” will be displayed. 5. Click 'CONFIRM' and wait. A message saying “Reward Share Successful!” will be displayed.
Line 128: Line 151:
 7. Click 'ADD MINTING ACCOUNT': 7. Click 'ADD MINTING ACCOUNT':
  
-{{::node_management_tab.png?800 |}}+{{::node_management_tab.png?600 |}}
  
 8. Paste the key you copied in step 4 into the field in the pop-up window: 8. Paste the key you copied in step 4 into the field in the pop-up window:
-{{::add_minting_account.png?800 |}}+{{::add_minting_account.png?600 |}}
  
 9. Click 'ADD'. It will then display 'Minting Account Added Successfully!' after a moment. Then you can click 'CLOSE' 9. Click 'ADD'. It will then display 'Minting Account Added Successfully!' after a moment. Then you can click 'CLOSE'
becoming_a_minter.1704582578.txt.gz · Last modified: 01/06/2024 18:09 by magic_ink

Page Tools