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Bitcoin Forum > Alternate cryptocurrencies > Altcoin Discussion > How does POS/POW Mining Work?
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puremage111 (OP)
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January 17, 2017, 03:41:08 PM
 #1
Hello, i am holding 10,000 OMC.

Altcoin thread : https://bitcointalk.org/index.php?topic=1603994.0

I am holding the coins in the wallet, leaving the wallet open. I am not sure whether this is a pos/pow as i have no idea how to differntiate

The First Transaction i mined is 0.41 OMC, then follow by list below

0.41 OMC
0.19
0.19
0.09
0.10
0.13
0.04
0.04
0.05
0.05
0.01
0.02
0.006
0.007


May i know why is the coin i mined is becoming lesser and lesser when i don't move the coins around?
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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January 18, 2017, 09:15:58 AM
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Looking at the thread, it mentions "minting," which suggests a POS asset. POS means that the more of the coin you hold, the more you will make minting. POW is using mining power such as ASICs to mine for coins (bitcoin for example).

I might be wrong, but i think the amount earned through minting is completely random. Maybe as more people start minting your percentage of the coin decreases?
Hope this helped.
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January 18, 2017, 12:08:42 PM
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This is what they Ann says :

Technical specifications

Omicron will be a blockchain based asset, and a clone of Bitcoin. Minting through the wallet will yield 5%/annum, compounding on a daily basis.

It didn't take long to find.
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