[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[publicjud]

i thought the whole point of new PoS version and reward revision was so people would keep staking wallets online to secure the network.

i guess you still need a wallet online, but you can stake multiple large wallets from a single client now.

kinda defeats the purpose no?

The wallets ARE online. Its just that you can stake from multiple locations. This prevents people from hacking your account with keyloggers. Since with this method you can use 2 keys.

For example, you have a multisig account in Halo. You find a block, you then sign 1/2 send to the 2nd location (which could be an entirely different computer or device) and then sign the OTHER HALF.

Then that second location knows its a stake and will broadcast.

Imagine you can do this with a 10 of 10 multisig or even 80 out of 100. Thus you send the transaction with the kernel to your other locations they all sign it, when it gets enough sigs they broadcast.


ALSO, you can now stake manually by checking the kernel and putting the block signature in 6a with no value out. This means people can design their own staking and payout schemes easily.

In fact it even means you can make a multipool where ALL the members are part of a giant multisig where they all sign the discovered block and divide it based on their proportion by their vote.


There is so many awesome staking schemes here.


Heres another one: you can do a multipool custom staking and send out all blocks to checklocktimeverify freezing coins preventing selling until a predetermined time.

Great news.  Is this something unique to Blackcoin?

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[dzimbeck]

i thought the whole point of new PoS version and reward revision was so people would keep staking wallets online to secure the network.

i guess you still need a wallet online, but you can stake multiple large wallets from a single client now.

kinda defeats the purpose no?

The wallets ARE online. Its just that you can stake from multiple locations. This prevents people from hacking your account with keyloggers. Since with this method you can use 2 keys.

For example, you have a multisig account in Halo. You find a block, you then sign 1/2 send to the 2nd location (which could be an entirely different computer or device) and then sign the OTHER HALF.

Then that second location knows its a stake and will broadcast.

Imagine you can do this with a 10 of 10 multisig or even 80 out of 100. Thus you send the transaction with the kernel to your other locations they all sign it, when it gets enough sigs they broadcast.


ALSO, you can now stake manually by checking the kernel and putting the block signature in 6a with no value out. This means people can design their own staking and payout schemes easily.

In fact it even means you can make a multipool where ALL the members are part of a giant multisig where they all sign the discovered block and divide it based on their proportion by their vote.


There is so many awesome staking schemes here.


Heres another one: you can do a multipool custom staking and send out all blocks to checklocktimeverify freezing coins preventing selling until a predetermined time.

Great news.  Is this something unique to Blackcoin?

Yes only Blackcoin can do this because its POS 3... and even people who fork it wont have a native multisig client so most likely BlackHalo will be the only software capable of this.

[jokumat]

Is it a good thing when exchanges can stake using their cold wallets? This leads to concentration of staking power. A few exchanges (maybe even one) can "own" majority of the stake   

[janko33]

Is it a good thing when exchanges can stake using their cold wallets? This leads to concentration of staking power. A few exchanges (maybe even one) can "own" majority of the stake    

Static POS v3 reward is very good for those who support the blockchain through continuous staking and bad for exchanges with millions of coins
A static reward leads to a decreasing inflation rate and a decreasing reward rate.
https://nm.reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

[BITDV]

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[smaxz]

Is it a good thing when exchanges can stake using their cold wallets? This leads to concentration of staking power. A few exchanges (maybe even one) can "own" majority of the stake    

Static POS v3 reward is very good for those who support the blockchain through continuous staking and bad for exchanges with millions of coins
A static reward leads to a decreasing inflation rate and a decreasing reward rate.
https://nm.reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

knew i remembered reading something to this effect.

staking cold nullifies these benefits, although agreed they are good in some other aspects.

[jokumat]

Looks like exchanges can rule PoS coins (especially with cold staking) in the same way as mining pools rule PoW

[Rotator]

do not wait for weekly updates, this is an old, stable and reliable coin

I'm not scared about investing in some old coin but if there is no much activity from dev team i can have some doubt in my decisions..I remember those day this thread was flourished, i had problems reading it because every minite new post was made..

[publicjud]

do not wait for weekly updates, this is an old, stable and reliable coin

I'm not scared about investing in some old coin but if there is no much activity from dev team i can have some doubt in my decisions..I remember those day this thread was flourished, i had problems reading it because every minite new post was made..

Rat4 is still coding on the coin from time to time.  I have yet to see a better non PoW coin.

[janko33]

do not wait for weekly updates, this is an old, stable and reliable coin

I'm not scared about investing in some old coin but if there is no much activity from dev team i can have some doubt in my decisions..I remember those day this thread was flourished, i had problems reading it because every minite new post was made..

Rat4 is still coding on the coin from time to time.  I have yet to see a better non PoW coin.

for example today
https://github.com/CoinBlack/blackcoin/commit/0b5a44b8d53b90d6188283f1fea07d24e18913f4

[erok]

Got my Blackcoin raspberry pi running. Now I just need to transfer balances over and stake! Great post on SDC zim. Put some confidence in me about your very own project so I bought some.

[Mick666]

When I'm in the black richlist, look at the top 100
I keep asking myself why so few people staken,
you all have too much money? 5% interest too little?
please catch on to staking and sends me the coins collected


I would be very happy

BMvBizGo5QUyeRykkxh1882VA8YcXJjTHV

[SalimNagamato]

What is the final amount of blackcoins to ever be in circulation?

1.5 BLK/minute , 2160 BLK/day, 788400 BLK/year
in 100 years from now 154264359 BLK

final amount ∞

[erok]

Black is eating my pi resources hard. 100% cpu style. Is there a lite wallet that is arm compatible?

[germsite]

What is the final amount of blackcoins to ever be in circulation?

1.5 BLK/minute , 2160 BLK/day, 788400 BLK/year
in 100 years from now 154264359 BLK

final amount ∞

Oh damn, I was hoping it was a limited supply, this definitely makes me rethink my strategy.

Supply of mined coins is limited, extras come from interest produced from staking

[SalimNagamato]

What is the final amount of blackcoins to ever be in circulation?

1.5 BLK/minute , 2160 BLK/day, 788400 BLK/year
in 100 years from now 154264359 BLK

final amount ∞

Oh damn, I was hoping it was a limited supply, this definitely makes me rethink my strategy.

will you live 100 years and then buy ?
my strategy is buying and staking

[Rotator]

Black is eating my pi resources hard. 100% cpu style. Is there a lite wallet that is arm compatible?

I have some old laptop and when i open wallet problems acquire. Not one time my pc was freezed, how this problem can be overcomed? I'm already very far from synchronizing. Actually is there any other working wallet? android?

[erok]

Black is eating my pi resources hard. 100% cpu style. Is there a lite wallet that is arm compatible?

I have some old laptop and when i open wallet problems acquire. Not one time my pc was freezed, how this problem can be overcomed? I'm already very far from synchronizing. Actually is there any other working wallet? android?

yeah i have an android tablet so that solution would work for me as well. good thinking. not sure why it peaks my cpu so hard honestly.

[Rotator]

Must say wallet is very good looking and working fine, but consuming resurse insanely!
I think the future belongs to fast wallets and instant syncing and maybe even wallets with web support..

[SalimNagamato]

Must say wallet is very good looking and working fine, but consuming resurse insanely!
I think the future belongs to fast wallets and instant syncing and maybe even wallets with web support..

running blackcoin-qt on my old laptop and runs perfect
~1GB of RAM usage, and tops to 2% CPU usage