Bitcoin Forum

One question I have is can Proof Of Stake reward a miner with coins even though he is not connected to the internet/network or must he be connected to the network before POS coins are rewarded into his wallet?

Hello friends,

I am about to embark on a new alt coin project. Are there any programmers out there that can help me create this new alt coin? Please help me with some references.

One question I have is can Proof Of Stake reward a miner with coins even though he is not connected to the internet/network or must he be connected to the network before POS coins are rewarded into his wallet?

Thanks for the advise.

Cheers!

retep

Nope, they have to be connected for the other clients to reach consensus and accept it into the block chain.


 8)
 

Not exactly true - see Decred and their stake pools; they are trustless pools that allow individual users to have someone else stay online and stake/vote for them, but there is zero chance for the pool to run away with their coins.

Staking in Decred works in a similar way to a lottery, you purchase tickets with the available DCR coins you have or the amount you want to use. Ticket price started at 2 DCR and it changes based on users staking, though it is currently pretty high priced at about 14 DCR, so you might want to carefully choose the timing when to purchase tickets. Then you need wait for your ticket to be randomly chosen to validate a block or to be taken out of the lottery in 142 days if you do not win anything. The coins you use for staking (purchasing tickets for the lottery) will be locked until they are either chosen and you get your staking reward or 142 days pass . According to the information available the lottery lasts about 28 days average and the chance of a ticket not being selected in 142 days are less than 1%, but since it is all luck based your results may vary.

Do note that the staking pool is just making it easy for you to participate in the PoS phase of Decred mining, the staking rewards in the pool remain personal, so every participant is staking just like he would using a local wallet (you still need to have a local wallet to authorize the pool to vote and stake on your behalf). We are yet to see Decred staking pool becoming available where participants will play to win together and the rewards will be shared equally between all participants, so this will probably be the next step in DCR pool staking that we might be seeing further down the road.

The reward for a block is split between miners and the Decred development team as follows: PoW miners get 60% of the reward to reimburse them for electricity and hardware expenses. PoS miners get 6% of the reward each (30% for 5 votes) . This encourages people to hold their coins and invest in the Decred network. The development team receives 10% to help ensure the future of Decred by funding ongoing development.

Not exactly true - see Decred and their stake pools; they are trustless pools that allow individual users to have someone else stay online and stake/vote for them, but there is zero chance for the pool to run away with their coins.