Proof-of-stake velocity (PoSV)

Proof-of-stake velocity (PoSV)

Mining algorithm developed by Reddcoin as a substitute to the coin's original proof-of-work algorithm and meant to incentivize active staking in order for coin holders to earn the highest payouts on the coins they are holding.

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Edits on 1 Sep, 2020
Dawson Sewell
Dawson Sewell edited on 1 Sep, 2020
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Dawson Sewell
Dawson Sewell edited on 1 Sep, 2020
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Edits on 9 Feb, 2019
Daniel Frumkin"Created page, added image, description, article and related topics"
Daniel Frumkin edited on 9 Feb, 2019
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Proof-of-stake velocity (PoSV)

Mining algorithm developed by Reddcoin as a substitute to the coin's original proof-of-work algorithm and meant to incentivize active staking in order for coin holders to earn the highest payouts on the coins they are holding.

Article

Proof of Stake Velocity (or PoSV in short), is an original mining algorithm developed by Reddcoin development team as a substitute to the proof-of-work algorithm that was used at Reddcoin's inception. It is based on traditional proof-of-stake (PoS), but features modifications to the original PoS algorithm to promote more active network participation. It's name comes from the idea of Velocity of Money and alludes to the goal of PoSV to promote a better coin economy by increasing participation of coin holders.

In PoSV, Coin Age (a measure of how long a coin holder has held onto coins without spending or moving them) is not linear like in standard PoS algorithms.

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By weighting Coin Age in this way, ReddCoin incentivizes token holders to regularly stake their coins and to maintain a cryptocurrency wallet online full-time.

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Proof of Stake Velocity (PoSV) - Reddcoin Wiki

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Daniel Frumkin"Initial topic creation"
Daniel Frumkin created this topic on 9 Feb, 2019
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 Proof-of-stake velocity (PoSV)

Mining algorithm developed by Reddcoin as a substitute to the coin's original proof-of-work algorithm and meant to incentivize active staking in order for coin holders to earn the highest payouts on the coins they are holding.

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