POS in bitcoinmagazine.com

General
1

I guess that was the report after Sunny was interviewed by the author

“There have been several proposals on how proof of stake can be implemented; the only one that works in practice, however, is PPCoin, once again created by Sunny King. PPCoin’s proof of stake algorithm works as follows.”

2

We’re publishing the interview in issue 13. But yes, this is the PPCoin article that everyone here wanted me to write :slight_smile:

Next up, article on proof of excellence (also partially inspired by the Sunny interview), coming soon…

3

[quote=“Vitalik Buterin, post:2, topic:324”]We’re publishing the interview in issue 13. But yes, this is the PPCoin article that everyone here wanted me to write :slight_smile:

Next up, article on proof of excellence (also partially inspired by the Sunny interview), coming soon…[/quote]
Hi Vitalik,

I am Red from China, currently working as a translator in a JV. Been obsessed with btc and recently in btc security market. It’s so amazing that I could get access to these brilliant people.
I translated Sunny’s design paper on PPC into Chinese and posted in the following link:
http://blog.sina.com.cn/s/blog_d3b90b760101bi7n.html

I am also the mod of investment subform of some leading chinese btc websites, like btcman.com and 8btc.com.
I am also the host of a btc security investment QQ group with over 300 active investors.
Anyway, I am hoping to establish a contact with the leading author and making more friends in the community.
Cheers,
Red
PS: My skype id is gzreddragon. It would be nice to chat through skype.

4

Thanks! I have got in contact with Vitalik.

5

Great article, now I finally understood how PoS basically works, especialy the dynamic difficulty was a part that brings light into the dark :wink: .

What I still don’t understand. How is the reward calculated? Is someone able to help me out here?

I guess it is somehow based on coinage but I’m not sure :-\

6

[quote=“MUTO, post:5, topic:324”]Great article, now I finally understood how PoS basically works, especialy the dynamic difficulty was a part that brings light into the dark :wink: .

What I still don’t understand. How is the reward calculated? Is someone able to help me out here?

I guess it is somehow based on coinage but I’m not sure :-[/quote]
You are right. POS is based on coinage. As far as I know, if you keep 100 PPC in your wallet starting from today and not spend it. One year later and you shall see 1 coin sitting in the stake balance. Well, that’s not exactly the case. I started my POS minting after keeping the coins for 3 month. About half an hour later, I got my first POS minted coins, which is really exciting.