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RE: The Stake Weight Problem -- What on Earth do we keep talking about? Simplified.

in #gridcoin7 years ago (edited)

"This means that an entity with Gridcoin can collect its 1.5% interest without contributing to the creation or maintenance of the blockchain.", sorry to be a pedant but the way I read this it's not quite correct. To get 1.5% reward you absolutely must contribute to the creation and maintenance of the blockchain; you must stake your balance.
However you need not do it on a continuous basis, so your contribution to the blockchain can be inconsistent.

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as soon as a coin stakes once it is rewarded interest owed and can be taken off line, yes?

Yes, but this isn't as trivial as coming online, staking instantly, and going offline again; it may take multiple blocks for a UTXO to stake, and a wallet may contain multiple UTXOs.

So these wallets do contribute to maintaining the blockchain, just not as much as they could.

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