Qortal Project

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minting_overview [11/29/2023 15:20] – croweticminting_overview [11/29/2023 15:21] – crowetic
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-Qortians do not MINE, Qortians MINT. Minting is NOT what you may have heard of on other 'token' projects. +Qortians do not MINE, Qortians MINT. Minting is NOT what you may have heard of within 'token' based projects. It is **Proof of Contribution Over Time, and Memory Proof of Work**.
  
-Minting can also be referred to as **Proof of Contribution Over Time, and Memory Proof of Work** and it is much more similar to 'Proof of Work' than it is to anything else. However, Qortal's Minting is a measurement of a **node's contribution to the network over time**. The Memory Proof of Work (MemPoW) algorithm, is utilized solely to 'limit the number of minting keys' that can be assigned to a single computer. It is assigned with a 'static' difficulty, and simply prevents assigning more than 2 minting keys to any given physical computer. +Minting is much more similar to 'Proof of Work' than it is to anything else. However, it is **not really similar to anything that exists**. Minting on Qortal is simply a measurement of a **node's contribution to the network over time**. The Memory Proof of Work (MemPoW) algorithm, is utilized solely to 'limit the number of minting keys' that can be assigned to a single computer. It is assigned with a 'static' difficulty, and simply prevents assigning more than 2 minting keys to any given physical computer. 
  
 In Qortal, every minter SHARES the reward of **every block** split based on their level. In other words, Qortal **does not reward solely the block signer**. Minting rewards **every minter who is online, synced, and has a minting key assigned to their node.** Say goodbye to the battle of MINING and welcome in a fair new system where everyone is rewarded for EVERY block minted. Minting is part of a fundamental principle of the project, which is that **money cannot equal power over the network**. This means that **no one can buy their way into having more power over the network**. In Qortal, every minter SHARES the reward of **every block** split based on their level. In other words, Qortal **does not reward solely the block signer**. Minting rewards **every minter who is online, synced, and has a minting key assigned to their node.** Say goodbye to the battle of MINING and welcome in a fair new system where everyone is rewarded for EVERY block minted. Minting is part of a fundamental principle of the project, which is that **money cannot equal power over the network**. This means that **no one can buy their way into having more power over the network**.
minting_overview.txt · Last modified: 12/07/2023 15:09 by crowetic

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