The explanation of RBPPS, whilst technically accurate, omits some very important information that could help dispel misperceptions.
Here's an explanation that includes it:
Round-Based Pay Per Share (RBPPS), 1% fee. When a block is found, the reward is distributed among all workers proportionally to how many shares each of them has found. Payouts are delayed until a found block is confirmed by the network. If a found block is orphaned, earnings relative to that block are disqualified and discarded.
the word "orphaned" should be a hyperlink to
https://blockchain.info/orphaned-blocksWhile I'm on the topic ...
IMO, we should continue to try and ensure people *actually do* understand that many of the community members are also miners and, with everyone working on the same block of transaction records, it can and does happen that another group finds, processes and submits the block a fraction of a second earlier than "we" did and, when the network collectively tots up who's due what, we get nothing - even though we've spent 10 hours in complete darkness, caked to the eyeballs in dust, doing gruellingly hard physical labour amidst an a ear-splitting racket. Oh, wait, that's coal mining, phew.
The electricity used by a miner's computer is their stake in the game. It can happen, on quite rare occasions, that they get 0 reward for their effort. Mostly though, they get a trickle of qubitcoins back - pretty much exactly as the designer of this particular cryptocurrency intended.
HTH.
- GRAHAMx5hmAyhznHXg8AfGK7cbDzJyuokU
