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minting_overview [12/07/2023 15:09] – croweticminting_overview [06/04/2025 14:57] (current) – crowetic
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   * Minting rewards are NOT reliant upon being the signer of the block.   * Minting rewards are NOT reliant upon being the signer of the block.
   * Every minter is rewarded EVERY BLOCK in Qortal (approximately 60 seconds).   * Every minter is rewarded EVERY BLOCK in Qortal (approximately 60 seconds).
-  * To become a minter, a new account must be 'sponsored' by a level 5+ minter, or a Founder. +  * To become a minter, a new account will post on the Q-App called 'Q-Mintership' after registering a name, and being active on the platform for recommended 1 month. On the 'Minter Board' the new user will publish a 'card' and a subsequent vote from the Minter Admins, will determine whether an invite to the MINTER group will be provided. Upon such an invite, the new user accepts and joins the MINTER group, at which point they may create and assign their Minting Key to their node. 
-  * The limitation of creation of minting accounts is a security feature to combat gaming the system. +  * The Minter Admins are now the limitation of minting account creation, this concept, called 'Mintership' (like mentorship for minting) was created to replace the now deprecated 'sponsorship' concept, which had a game that could be played against it, and as such was removed and replaced as planned since Genesis. 
-  * The period of running a node to become a level 1 is set at 7200 blocks (after obtaining sponsorship and about 5 days to complete at 1440 blocks per day). +  * SPONSORSHIP IS NO LONGER REQUIRED to become a minter. Publish a Minter Card on the Minter Board in the Q-Mintership app, and follow-up there with commentary from the community and Minter Admins to obtain an invite to the MINTER group. Once invited to the group and after joining, you may then create and assign your minting key to your node by way of the 'Start Minting' button in Qortal Hub. 
-  * Other portions of the system are possible to change in the future as well. +  * Other portions of the system are possible to change in the future as well. Qortal is a dynamic and fast-paced development platform run by a global community and globally located Development Group. Proposals from the community if deemed worthy by the community and development group, can potentially become a new portion of the project overall, and change the coded 'rules' of the platform, down to consensus if required. 
-  * The period to become a Level 5 takes approximately 14 months in which the account can begin sponsoring others. +  * Becoming level 5 only enables your block signing potential now. No other benefits aside from the new level tier are obtained at level 5. 
-  * The highest level for a Qortal account is Level 10. The period to become a Level 10 takes approximately 7 years 9 months.+  * The highest level for a Qortal account is Level 10. The period to become a Level 10 is estimated to take around 8 years.
   * The system VERIFIES online minters, utilizing the minting keys. So you MUST STAY ONLINE to be rewarded.   * 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.   * The whole point of minting is to GROW AND MAKE THE NETWORK STRONG.
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   * Only level **5 or higher** minters sign blocks   * Only level **5 or higher** minters sign blocks
   * The higher level minters are more likely to be the block signer (for chain security).    * The higher level minters are more likely to be the block signer (for chain security). 
-  * Becoming a minter requires a temporary 'sponsorship' key to be obtained from another minter of level 5 or higher.  +  * Becoming a minter requires a group invite to the MINTER group, given at the behest of the Minter Admins and their GROUP_APPROVAL created invitation transaction. 
-  * During the temporary 'sponsorship' period, no rewards are given to the pre-level-1 minter.+  * During the 'level 0' period prior to reaching level 1, minters are not rewarded. Reaching level 1 from 0 takes approximately 1 week. Between 8000 and 9000 blocksMinted, due to the 1000-block 'batch payout' configuration currently enacted on the network. 
   * Rewards are **split evenly throughout the online minters of any given tier.**    * Rewards are **split evenly throughout the online minters of any given tier.** 
   * The higher the tier, the higher the reward.   * The higher the tier, the higher the reward.
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 ===== Minting Security ===== ===== Minting Security =====
 +(see also [[block_rewards_distribution|]])
 In order to ensure the security of the chain, **minting is also structured based on level in regard to block signing.** Block signing simply means the actual minter that creates and adds the block that ultimately gets utilized by the overall chain. In order to ensure the security of the chain, **minting is also structured based on level in regard to block signing.** Block signing simply means the actual minter that creates and adds the block that ultimately gets utilized by the overall chain.
  
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 === Measuring 'Contribution Over Time' === === Measuring 'Contribution Over Time' ===
  
-Minting is sometimes referred to as **proof of contribution over time (and Memory Proof-of-Work)** and this is a very accurate description. +Minting on Qortal is a method of 'proving contribution over time', as such, the minting algorithm can be referred to as 'PoCoT, or Proof of Contribution over Time. There is also an additional Proof of Work component, accomplished **in-memory** as opposed to raw computational power. The MemPoW is also leveraged differently than most PoW algorithms are. Learn more - [[block_rewards_distribution|]].
- +
-=== The MemPoW (Memory Proof of Work) Algorithm === +
- +
-The **Memory Proof-of-Work (MemPoW)** portion of the above statement, comes from the **MemPoW algorithm** that is also part of Qortal Minting. The MemPoW algorithm is utilized in a different fashion to that of most Proof-of-Work algorithms in other blockchains. Whereas most PoW chains utilize the algorithm with a 'modifiable difficulty' that changes based on how many 'miners' are actively contributing 'hashrate' to the network, Qortal utilizes a **set difficulty** on the MemPoW, and merely uses the algo to **limit the number of minting keys that can be assigned to any given physical computer.**  +
- +
-The **MemPoW algorithm** is a Memory-based Proof-of-Work (PoW) algorithm that is utilized in multiple places within Qortal. In regard to minting, the **MemPoW must be computed, and submitted with each minter signature**. The algorithm is different than other PoW algorithms in multiple ways: +
- +
-  * MemPoW uses a set difficulty for every minter +
-  * MemPoW is computed and submitted with each minter signature +
-  * MemPoW uses a SET amount of RAM (1MB) (instead of providing more hashrate for more hardware like most PoW algorithms.)  +
-  * MemPoW merely limits the number of minting keys that can be assigned to any physical computer, so that those looking to 'cheat' the system by assigning more than 2 minting keys, will have a hard time actually accomplishing this. +
  
 ===== Minting Signature Submission 'Window' ===== ===== Minting Signature Submission 'Window' =====
minting_overview.1701979749.txt.gz · Last modified: 12/07/2023 15:09 by crowetic

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