Just started this project on Peer4Commit (https://peer4commit.com/projects/206)
Please don’t hesitate to give your opinion on this project, to encourage it and donate if you feel it important for the Peercoin Community.
I was looking a lot after PoS and i was very surprised that no POS pools were staking PPC (one does NAV, so why not PPC if it’s about ROI).
This project will do allow to do lobby for PPC in existing POS Pool and/or create a dedicated POS Pool.
Thank for your welcome on this project!
Can you explain further what you mean by a PoS pool? Are you expecting people to just give you their coins? Or is this a multisig approach?
After PoW mining pool, there are some people who get together for staking rewards.
As the chance to validate a POS block rises with the number of mature coins in your wallet, the goal is to get together to have the higher amount of coin on the same wallet to get the highest chance to get rewards from POS blocks. Reward is then divided according contribution of the poolers. Winnings used to be much higher is this kind of system than doing this on your own.
Moreover, if you don’t know how to mount an open wallet on a VPS or with a peercoin-box, POS Pool is a good way to stack your coin (less expensive also because wallet is mutualised and you don’t have to buy anything first). I have seen none initiative on PPC nowadays, that’s why i’m launching this project.
Does this answer your question ?
If it does and you want to support the project, don’t hesitate to donate
So a miner in a pool can either take their money out right away, or leave it in for PoS rewards. Since they already trust the pool operator, it would save a layer of fees in theory. In practice, I question if people will think it is worth the risk to leave their money with you for 1% per year. If left indefinitely, it would take 100 years to pay out what they would get if they withdrew immediately.
there used to be an online wallet that supported minting
maybe you should look into that
Usually PoW mining pool do not have open wallet for minting. If PPC pools does it, that’s very nice.
Can you tell me the name of the pool doing it ? I checked at ecoining pool and i didn’t see any mention on this. Moreover, some people bought PPC because they believe in it (they don’t mine it), so this online wallet would be also for them. I don’t get your 100 years to pay out, anyone can leave a pool at any moment with their gains.
Thank you irritant for this project, the name get me confused at the beginning (though about a “blockchain explorer”). Can’t find any trace of this project on github. Would anyone get information about this ? Have they said why two paiments a month ?
seems Valermos disappeared, found someone who forked it maybe you can have a look at that: