[ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"

Quote from: mcdoom432 on November 21, 2014, 06:32:54 PM

what is the staking specs on this coin?

It targets one block per minute, and pays 1 CLAM reward per block (plus transaction fees from included transactions).

Every 16 seconds each of the outputs in your wallet that hasn't moved for 4 hours and is mature (over 510 blocks since last staking) gets a chance to stake that is proportional to its size.

The network difficulty target is around 2000*2^200 at the moment. Each 16 seconds, each eligible output gets sha256 hashed, and has to get a value less than the difficulty target times its value in satoshis to qualify for staking.

That means that an output of around 66 CLAMs should stake once per day on average. Note that once it stakes, it takes 4 hours or 510 confirmations (whichever takes longer) before it is eligible to stake again. For that reason people tend to break their outputs up into smaller pieces, so that when one stakes the rest can continue attempting to stake without the delay.

Edit: here's the math I did to come up with 66 CLAMs as the size you need to average 1 stake per day. It might be wrong or at least inaccurate:

Code:

>>> 2**256 / 1e8 / (2000 * 2**200) * 16 / (60 * 60 * 24)
66.71999447956291

2**256 is the number of different outputs from sha256
1e8 is to get an answer in CLAMs, not satoshis
2000 * 2^200 is the network difficulty target
16 is the number of seconds between 'attempts' at staking
60*60*24 is the number of seconds in a day

Quote from: mcdoom432 on November 21, 2014, 06:32:54 PM

How do you get clams?

Three ways:

1) buy them - from someone who has some - they're listed on poloniex here: https://www.poloniex.com/exchange/btc_clam

2) dig them - from the initial distribution - everyone who had a non-dust amount of BTC, LTC, or DOGE in May 2014 was given 4.6 CLAM as part of the initial distribution. Import your old BTC, LTC, or DOGE wallet into the CLAM client to import your old private keys. You might want to make sure that the keys are "empty" first if you don't trust the CLAM client. There are over 15 million CLAMs that were given away in this way which haven't been "dug" yet.

3) stake them - as described above staking currently returns a little over 1% growth per day for those actively staking. The growth will continue to be 1440 CLAM per day, but as the active coinbase grows, that will come to represent a smaller percentage growth for each staker.

	Author	Topic: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin" (Read 1151283 times)
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