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Difference between revisions of "Proof-of-Work-Time"

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[[Proof-of-Work-Time]] (PoWT) is a novel approach to forming a consensus by introducing a variable blocktime that scales with mining power, where the blockchain speeds up with power increases. This better scales the blockchain, increases transaction speed with power and allows for auto-adjusting more profitable mining. Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds).
 
[[Proof-of-Work-Time]] (PoWT) is a novel approach to forming a consensus by introducing a variable blocktime that scales with mining power, where the blockchain speeds up with power increases. This better scales the blockchain, increases transaction speed with power and allows for auto-adjusting more profitable mining. Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds).
Rewards: Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation). Algo: scrypt² (N of 1024² or 128MB per thread) Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC. Minimum Transaction Fee: 0.2 VRM (high commodity transaction fee paid to miners). RPC Port: 33987, P2Port: 36988 Confirmations: 30, Maturity: 100.
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== Rewards ==
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Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation). Algo: scrypt² (N of 1024² or 128MB per thread) Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC. Minimum Transaction Fee: 0.2 VRM (high commodity transaction fee paid to miners). RPC Port: 33987, P2Port: 36988 Confirmations: 30, Maturity: 100.
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==Blockchain Explorer==
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[[Verium#Blockchain_Explorers_and_Tools|Verium Blockchain Explorer and Tools]]

Revision as of 12:56, 16 January 2018

Proof-of-Work-Time (PoWT) is a novel approach to forming a consensus by introducing a variable blocktime that scales with mining power, where the blockchain speeds up with power increases. This better scales the blockchain, increases transaction speed with power and allows for auto-adjusting more profitable mining. Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds).

Rewards

Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation). Algo: scrypt² (N of 1024² or 128MB per thread) Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC. Minimum Transaction Fee: 0.2 VRM (high commodity transaction fee paid to miners). RPC Port: 33987, P2Port: 36988 Confirmations: 30, Maturity: 100.


Blockchain Explorer

Verium Blockchain Explorer and Tools