Minting guide for Philosopherstone like Cryptocurrencys
The Concept of Philosopherstones and other POS coins The validation of transactions is done with Bitcoin like proof of work (POW) and something called
proof of stake (POS).
The POS is a method to securing a cryptocurrency network through
requesting users to show ownership of coins defined in the “stake” field in .conf file (more later). For this energy saving process of securing the network, you get a reward for just holding the coins and unlock your wallet for minting. After the stake, coinage is destroyed.
The Reward for holding POS Coins To do your first stake your coins need to generate coinage (days of coins in the same wallet which aren’t send to another wallet in this time). The days before Stake and the rewards are different between the POS coins out there. Here a short list:
Days until first stake Interest p.a. 1. Year 2. 3.Mintcoin 20 20% 15% 10% 5%
Philosopherstones 5-15 50%
Novacoin 30 starts from 100% per year and cut a half every 64x multiply of difficulty.
Peercoin 30 1%
Blackcoin 1%
Howto enable wallet for minting: 1. Once you downloaded the wallet you need to
encrypt you wallet. Go to “settings” and click “encrypt wallet”. Set a min. 8 char password with special characters and numbers but write it down, because you
can’t get it back if u loose them.
2. Now we need to create a conf file in %appdata% (just paste this in windows explorer navigation) and go to your Philosopherstone, Mintcoin ... folder. Here is your wallet.dat. Now create a new file called “
philosopherstone.conf or mintcoin.conf or somethingelse.conf”. Put in these lines and replace “yourusername” and “yourpassword” with something strong and random.
!Pls not your wallet pass! Then safe and exit.
server=1
rpcuser=**Yourusername**
rpcpassword=**Yourpassword**
rpcport=16282
rpcconnect=127.0.0.1 3. Now go to your Philosopherstone or Mintcoin folder where philosopherstone-qt and stoned.exe are in.
Now create a file called
mint.bat and put in these lines:
for PHS
@echo off
@echo Enter PHS password...
SET /P variable=Password :
stoned.exe walletpassphrase %variable% 9999999 true
for mint
@echo off
@echo Enter PHS password...
SET /P variable=Password :
mintcoind.exe walletpassphrase %variable% 9999999 true
4. Everytime you click on this batch file it will ask you for your wallet password and then
unlock the wallet for minting. You can check if minting is enabled, if you hover over the lock symbol in the downer left corner.
If u find this helfpfull you can donate
PHS: 9nL16kFtxh5e86HQGvs7fnAnkq1Mx3mXbs Mint: Msyymc4SBmpRAxyh4eBi2ggr8vM6SHXdJ2
Greetings
Ps: If u find any Misspellings or recommendations pls tell me i will keep this up to date
Poll
