MMOCoin Minting facts and FAQ
MMOCoin Minting facts
- Minting process can only start after 30 days of coinage.
- Minting coinage is maxed out after 90 days (0 day <-can't mint-> 30 days <-minting probability increasing-> 90 days <-minting probability reached its max-> infinite). Which means that the minting process won't consider more than 90 days of coinage even if your coins have 365 days of coinage for example.
- Minting is predictable and not random --> For a given transaction, you can calculate the maximum network PoS diff over time for your transaction to be able to mint a PoS block. Whenever this PoS diff is higher than the current network PoS diff your MMOCoin client can mint a PoS block.
- PoS blocks can be rejected (orphans) if several people mint a PoS block within a given window (2 hours also called timedrift). Only one (the chain with longest coin age) will be accepted.
- Minting splits the transaction in two if coinage < 90 days (this behavior can be avoided by customizing your MMOCoin client: ??unsure if true and if blocks will be accepted??)
- PoS block reward is maximum 1-10% annual depends on your MMO holding(s) - MMOCoin Tiered Staking [POS]. This 1-10% is factor of your coinage, and is not maxed out.
- A transaction that just staked has its coins locked for 31 confirmations.
- Merging transactions, spending coins, etc. burns coinage (resets it to 0).
- PoS reward is directly added to your transaction which staked (if this transaction is split in two because coinage < 90 days, the reward is equally distributed to both resulting transactions).
MMOCoin Minting FAQ
How to determine the amount of currently minting coins?
When you know the POS difficulty, you can calculate the number of coins minting with the formula:.
Code:
number_of_coins_minting = (POS_difficulty * 2^32) / (avg_dayweight * 600)
avg_dayweight is a value between 0 and 60 calculated as the average stake coinage - 30 over a number of previous blocks.
Stake coin age must be at least 30 days old and is taken into account up to 90 days max since v0.8.
Example of calculated number of minting coins on july 3d 2019 by glv:
Code:
For the last 2020 blocks (between 180759 and 172775), I got an average age of 77.81 days (an average dayweight of 47.81).
With the difficulty around 15.95, this gives a number of minting coins around 2 388 000 (10.63% of the total money supply).
If I have a bad Internet connection, will I be disadvantaged when minting?
a) The person who creates a PoS block gets it propagated the fastest across the network first. (Has more confirms, gets accepted as being the next block in the chain)
OR
b) Who ever has a better PoS hash (more difficult target) that created that block wins when they happen at exactly the same time.
So lots of people are minting PoS blocks at the same time. If you only have 8 connections to peers, and someone else has 35 connections to peers, chances are their PoS block will be accepted by more MMOCoin nodes than yours.
If you are minting, I think it is a good idea to increase your maxconnections=35 or some thing like that in your mmocoin.conf file. Also configure your router to allow inbound tcp 9901 to point to your mmocoin host so you can allow more than just the standard 8 peers…
So it will be normal to find a PoS block, and have it orphaned if you are not connected to enough peers
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Is there a minimum required stake amount to be able to mint? and What is tiered Staking?
MMOCoin is built on a unique feature called Tiered Staking.
Tiered PoS is actually the levels of Stake divided into the percentage of the coins consist in the wallet & we have divided the stake reward into the following levels (as per anum)
- Holding 1-999 MMO in the OS wallet will provide 1% stake reward
- Holding 1000-9999 MMO in the OS wallet will provide 2% stake reward.
- Holding 10000-49999 MMO in the OS wallet will provide 5% stake reward.
- Holding 50000-99999 MMO in the OS wallet will provide 7% stake reward.
- Holding 100000+ MMO in the OS wallet will provide 10% stake reward.
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