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- | =====Minting===== | ||
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- | Minting, is the process of ' | ||
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- | QORT does not use PoW or PoS like more ' | ||
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- | Minting does not use high amounts of electricity, | ||
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- | Instead, minters must prove themselves as a ' | ||
- | // | ||
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- | ===Minting Overview Explanation=== | ||
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- | The QORT developers believe that minting is a superior method in multiple ways, as it not only **has no coin holding requirement for minting** (thus minting does NOT favor the users with more capital), but it also focuses on ensuring a strong and ever-expanding network of full nodes on the Qortal Network. This method leads to a much stronger base node network, and will be much less likely to run into issues like other blockchain projects do, wherein their base network has a lack of enough full nodes, which makes the chain much less secure overall. | ||
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- | This is against the principles of Bitcoin initially put into the world. The entire idea of the system, was to be totally decentralized, | ||
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- | ===Minting Quick Bullets=== | ||
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- | * Minting **does NOT reward you based on coins**, but by simply verifying you are a **legit full node and online**. | ||
- | * Minting rewards are NOT reliant upon being the signer of the block. | ||
- | * Every minter is rewarded EVERY BLOCK in Qortal. Every 60 seconds on average. | ||
- | * To become a minter, a new account must be ' | ||
- | * The limitation of creation of minting accounts, is a security feature. | ||
- | * The period of running a node to become a level 1 is set at 7200 blocks (after obtaining sponsorship). | ||
- | * Other portions of the system are possible to change in the future as well. | ||
- | * 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 EXTREMELY STRONG, the Qortal Network. | ||
- | * Only a node that is YOUR NODE, can be used as a minting node. You cannot access the assignment of minting keys without having full localhost access to the node you're attempting to assign keys on. | ||
- | * Each 2 level ' | ||
- | * As your level goes up, you change level tiers, and your shared percentage increases. | ||
- | * The highest level for a Qortal account, as of June 19, 2020, is level 10. | ||
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- | The method to accomplish this, is described here [[becoming_a_minter|Becoming a Minter]] | ||
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