VeriCoin Wallet. How to stake my coins?


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Staking is the process of proving ownership of your coins, and gaining interest on your wallet balance. Staking is very straightforward and can be done by anyone with a wallet. You will not gain any advantage by staking on a mining rig, over someone staking on a regular desktop computer.
In order to begin staking, your coins must have matured for approximately 8.5 hours – 510 blocks. In other words, your coins can only be staked after you’ve had them in your wallet for 8.5 hours.
You will begin staking every time you open your wallet, unless your wallet is encrypted with a pass phrase. In which case you must unlock your wallet before you can stake.

To see your staking information, hover over the VeriCoin icon in the bottom right of the status bar in the Qt wallet.
Staking in a proof of stake time is equivalent to the mining in proof of work coins. If you succeed in doing so you will be rewarded with stake interest, which will be generated along with the new block – its pretty much like bitcoin mining.

Proof of Stake Time is the first non-linear Proof-of-Stake system and improves upon several aspects at once. In addition to a novel new interest mechanism, how actively you stake your coins is now factored into your probability to complete a block.
Welcome to PoST : https://www.vericoinforums.com/threads/vericoin-1-6-1-welcome-to-post.1009
PoST White Paper: http://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

Proof of Stake Time :
Increased Incentive: Long term investors who actively stake their coin will be rewarded with a larger fraction of all possible interest, than those who do not.
Less Biased: Earning interest is no longer dependent solely on the amount of coin and time held, but also how actively you stake your coins.
Increased Security: Actively staking your coin increases the probability to sign a block – securing the BlockChain more directly from any potential “attacks”.

Vericoin inflation: https://www.vericoinforums.com/threads/vericoin-inflation.1025/#post-13852

VeriCoin Tutorial: How to Download and Install Your New Wallet.
https://www.youtube.com/watch?v=-8iaiYxe7vs

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Community Faucet Tutorial: http://vericoin-cryptocurrency.blogspot.com
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http://www.dailymotion.com/vericoin

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Post Author: CoinCryptoNews