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RE: Gridcoin poll: Should we implement POSv3to combat low network stake weight? (vote until February 8)
I missed the conversation, has anyone looked at PoST? In Proof of Stake Time the longer a wallet is offline, the lower the interest rate is when it does stake, its an incentive to keep your coins on chain.
It doesnt fix the minnow staking issue, but it does mean there is a disincentive to sync once every six months, get your payout and go back offline.
The specific change we could make that's critical in posv3 is fixed block rewards for POS which would encourage users to continuously stake. We need to drive staking participation up.
Are you saying if you arent online when a block is generated you lose an amount of interest related to 1 block? So if there were 365,000 blocks per year, and you were offline for 1 week then you would get 358,000 block rewards and 358/365ths of the 2% interest rate?
If you're not staking, you wouldn't earn GRC based on balance for being offline - 'owed interest' wouldn't build up.
Fundamentally, why should we pay interest on a balance that is not actively securing the network? By being offline, it puts the network's security/health at risk.
I agree GRC held online and staking is worth more than offline and should be rewarded higher. However I still think there is value in investors, even offline ones, their GRC is illiquid and drives up demand / price. If there is no reward in holding GRC offline at all, wont the exchanges be flooded?