Latest Wallet:OK core v4.0.0.3 codename: "Utopia" - Releases Notes
What are the Stake Rewards or Staking?In easy Terms is the process where you keep your coins in your OK wallet and keep it open(online), your coins will start to "stake" (trying to solve blocks, like mining), meaning after some hours your wallet will start to mine for more coins according to the quantity of coins that you already have in your wallet, at different rates (% changes, like halvings ) and without the need for special equipment or high energy bills. You only need to keep the OKCash wallet running and some Coins in it to start earning more coins. (This nodes help maintain a decentralized, secure and fast network, hence why they get the rewards for trusting and supporting the network/project)
OK SpecsReleased: Nov 24th 2014
PoW Ended at block: 33,186
Total coins at the end of Pow/Pos Hybrid Period: 36,297,000 OKCash
Max Cap: 105,000,000 OKCash
Full POS started: Dec 9th 2014
Proof of StakeStake Rewards: 11 halvings:
69%(year),
20%(year),
10%(year),
5%(year), 2.5%(year), 2%(4 years),
1%(4 years), .5%(4 years), .25%(4 years),
.10%(4 years), .05%(4 years), .03% (forward years)
Okcash - LTSSPoS calcs to the Okcash Staking System.LTSS original thread:
http://okcashtalk.org/index.php/topic,16.0.htmlTechnical Sustainability: In aims of improving the system, sustainability and reliability in OK,
while at the same time respecting scarcity.
Okcash provides a solution to empower OK and secure LTSS, Bitcoin has LTPoW lasting till the year 2140,
with this implementation; OK LTTS would be lasting to the year 2148, making it the best PoS partner for Bitcoin
and MicroTransactions.
Economics: the 11 planned halvings will help stabilize the currency and appreciation as they kick in,
There will be some halvings with a 4 years period that will start to give OK more predictability for markets,
securing the trust of services and markets, after the 11th halving OK gets a fixated % (after year 2044*),
this will normalize the OK coins creation to grow in a constant and stable rate for the last 100+ years
becoming the most secure, stable and mathematically predictable PoS coin with LTSS and scarcity.
Last OK coins to be PoS mined expected between years
2148 - 2188 depending on the % of Network Staking.
LTSS - Long Term Sustainable Staking.
LTPoW - Long Term Proof of Work.
* Aprox year per block count.
Clean readable
OK Staking % Calc - Improvements table:
http://jsbin.com/pitehet/1Html txt format:
http://pastebin.com/ZBtKZwVGBitcointalk info post:
https://bitcointalk.org/index.php?topic=1028368.msg15436603#msg15436603PoS Min Stake Time: 8 hr
Transactions: 10 confirmations
Stakes: 64 confirmations
Block Time: 72 seconds average block time.
Rpcport: 6969
Port: 6970
Test ports: ( RPCport 7979 ) ( Port 7980 )
What is OKCash? OKCash is a new Cryptocurrency that got released in November 2014. Since the start OK has shown a unique interest in the end user and tried to make the coin accessible and easy to use for the community. The launch was a success and a lot of miners participated in the pools that were mining the coin.
The mining PoW process lasted 15 days without halving to make it fair for every miner no matter when they started with the coin. After these 15 days of mining, OKCash became a full Proof of Stake coin, fulfilling its goal of hybrid initial distribution. It started a new era in the cryptocurrency environment, where coins continue to be created and distributed via Proof of Stake, which is a more long-term sustainable system and much more energy friendly than Proof of work.
OKCash started a new tendency in the cryptocurrency world, by injecting a positive vibe into its design and code. A lot of new coins started to get created following these ideals and see OK as an example.
OK coins has been traded since Nov 2014 and the community continues to grow in all aspects, on social networks, in markets, in use, and with its in-house dedicated Devs it's been building a solid decentralized infrastructure that's directly reflected in the coin's efficiency and speed. OKCash is one of a handful of coins that has not presented any issues with its blockchain, working perfectly since the day it was released.
The initial motivation behind OKCash was to create a really efficient and fast coin aiming to "improve things" or "make things better". After the success of getting added to the first exchanges, and with the community interaction and feedback, it was decided it was time for the coin to evolve and communicate the real philosophy behind its work. The community and environment itself were the driving forces behind this evolution, which is meant to provide end users "the community" with a cryptocurrency they can trust - with a name aimed for mainstream - and with the following qualities: speed, efficiency and ease of use accompanied by a dedicated and personalized working design.
The "OK" name got selected to represent the brand as it reflects properly the coin's goals and attitude. OK is one of only 2 words in the whole world that requires no translation at all to be understood, giving it the potential for mainstream adoption without the problems of trying to integrate the new name to different cultures. "OK" is understood the whole world over.
OK reflects a positive outcome, speed and empathy. Security and user experience are the first thoughts behind any update or code modification. The addition of the word "cash" was made to give it direct inclusion into the financial sector and to communicate the whole concept in a word: "OKCash".
Anybody who hears this word gets an overall concept or general idea of what it is about. OK is the technology while OKCash is the first application of this technology, being the coins we can send or put in our wallets for saving, spending or sharing.
OKCash has been referred to as "The future for Social Payments" and it has one of the strongest social presences in the cryptocurrency environment. You can actually send OKCash anywhere in the world by the easy use of the Reddit and/or Twitter Tip bots. This makes it possible to send OK to anyone in the world, even if they have not yet installed and downloaded the OKCash wallet.
OKCash is also one of the few currencies that does not fight BTC. On the contrary, OK supports BTC and aims to create events around the world to teach people about cryptocurrencies such as BTC and OK: how they can get the advantages and how they differ from traditional fiat systems.
OK complements BTC, with its speed and Proof of Stake system OK works as a currency but also as an earning system. If you keep your wallet open, you gain a % of the coins you hold in your wallet as interest. This system incentivizes the network growth and security as well, and is one of the key aspects of OK as it doesn't require special equipment. It is a more energy friendly way to sustain the whole network, reducing the carbon footprint considerably against Proof of Work technology.
Since the start, OKCash has provided constant updates, a dedicated site for them and has delivered in time and form.
OK is the first cryptocurrency to hold cross-promotions between different cryptocurrency communities and everyone can visit and download the "ROKOS" project as well, a Raspberry Pi OS with full Bitcoin Graphical Client and node ready to plug and play, OK client/node ready for use, distributed for free by the OKCash Developers to support Crypto adoption and the integration of cryptocurrencies with the Internet of Things technology (IoT).
Download ROKOS OK community has continued to create giveaways for more crypto communities and constant contests with the addition of faucets and resources to give more users the chance to have fun and get to know, test and use OKCash (OK).
