–Created in August of 2013–
PoS/PoS hybrid – PoW mining has currently ended. (Has potential to be switched back on for future issues.)
Fair Weight – Fair weight keeps things fair for all stakers
in effect on balances over 100,000 NET.
Personal Investment Rate (PIR) – You may choose to hold certain blocks of coins for different returns.
Open Wallet Incentive (OWI) – Open your wallet as little as once every 29 days to get max reward.
Anything over 30 days will incur creeping loss on rewards, half-life every 90 days (current value halved every 90 days of inactivity).
Multiple phases to PoS reward structure.
3 year phase from PoS start currently – 3rd year (Last defined phase can add more.)
POS PIR phase
I think i should sell some netcoins……-nobody
Netcoin is like most decentralize coins, except for the way it works.
Every 6 hours if you hold over 100,000 coins your wallet will generate a block for the network. This means that you take all known transactions and bundle them into a box and submit that to the chain for keeps. Great… Well yes of course we get a block, you got some rewards, and this continues every 6 hours regardless so long as your last block is confirmed. (70 blocks +)
WHAT IF I DON’T HAVE 100,000 COINS!!!
Under 100,000 coins your subject to normal stake rules. Which means the older the block is, the more chance it will submit a block. Sometimes this can be quicker than 6 hours some times it can be weeks/days just like any other coins except one thing. FAIR WEIGHT!!!!
WHATS THAT FAIR WEIGHT???
Fair weight is what holds it all together…..
It enables the +100,000 NET and -100,000 NET to live together as anything over 100,000 coins adds no weight bearing onto the scales. Meaning no matter how many coins you have over this you will not run away with the power and stop others even staking 1 NEToshi of a coin. (given a few lifetimes)