Virtual currency development topics (frequently asked questions during digital currency compilation)

Blockchain Enthusiast (qq:53016353)

Question: What is the difference between a blockchain and a BTC? Answer: The blockchain is derived from BTC, and our goal is to achieve long-term energy-saving goals with the best possible retention of BTC's good features.


Question: What is the equity stake and equity proof POS?
Answer: Ownership/Ownership certificate is a proper term used to achieve a certain purpose using the currency itself (ownership). In the blockchain, POS replaces the workload proof POW to process transactions and carry out mining. Please refer to our design paper for a detailed description of this and how to implement it.
After entering the GetInfo, the output of the information will be stake, and then the information is your current control of the protection of the network share. The blockchain used for POS mining must wait 520 chunks before it can be reused (POS mining will return to your account as soon as it is completed.) ）


Question: Since there are mining activities, why do they say low energy consumption?
Answer: Low energy consumption refers to the long term, because we do not need to use a lot of energy to maintain the network operation.
For now, the workload proves that POW remains the most practical method of early mining. So we decided to keep it in our hybrid design.


Question: Why do you need a centralized calibration mechanism?
Answer: There are a lot of problems with going to the center. In our first release, we still rely on a central broadcast verification mechanism to fully protect the network. We are actively considering/reviewing the possibility of replacing this part of the design in the future and weakening/removing the center check so that the blockchain is close to the BTC level.


Question: When can I start generating pos chunks?
Answer: After 30 days, the network will see the POS block. If you have a balance in your wallet, the blockchain client will automatically generate a chunk of the POS block for you. If you find a title, the reward is one point per year (which is understood to be 1% interest per year). In the stake column of the wallet, the amount of the reward is displayed, and it is displayed in the output of the GetInfo.
Because the blockchain balances that participate in the POS mining will be available after 520 chunks (these balances are not available) if you plan to spend some money, you can use the "reservebalance" command in the settings file to set the amount of the mining that does not enter the POS. You can add a command line such as "Reservebalance=10000″" in the blockchain oin.conf file, and then restart the blockchain oind. This way, the client retains 10,000 coins at the point of the POS mining.


Question: Can I use a locked wallet?
Answer: Yes. Blockchain wallets support lock-in, but somewhat different from BTC. If you use a locked wallet, you must unlock it for POS mining. For the sake of user security, we added an option to the Walletpassphrase RPC command, which created chunks to provide extra protection for wallets in the wallet unlock mode. If the hacker through RPC intrusion also can not be traded through RPC command.


Question: Is there a total cap for the blockchain, as in BTC 21 million?
Answer: There is no limit at this time, but the maximum value of 2 billion is set in the source code. But this value should not be interpreted as being achievable, because it is almost impossible. The same value is not considered an upper limit, as this value is likely to be increased. But this may not happen for a long, long time. It is impossible to predict the final output of a blockchain due to the design of the mining yield of the blockchain. Because this is closely related to the number of market participants, it is also associated with the destruction of POS mining and transaction costs. (If mining is always ahead of the destruction of transaction fees, there is no limit on the amount of mining output.) But according to Moore's law, we are pretty sure that POW mining will slow down exponentially (we know Moore's law will eventually fail), and POS mining generates up to 1% of inflation per year. So, in general, Blockchain is still a low-inflation currency similar to BTC.
In version 0.2, the "moneysupply" message was added to GetInfo's query results so that everyone knew how much money had been generated.
Chart 1: This figure is an estimate of the total supply curve of the blockchain, starting with the blockchain storage amount of September 19, 2013.

Chart 2 Total blockchain supply estimate from 2013 to 2045

Assuming the above situation is true, ultimately, the transaction fees destroyed will effectively offset the inflation factor, but not completely offset. The annual inflation rate will not exceed 1%. (according to the above figure, there will be close to 50 million blockchain output between 2013 and 2045.) )


Issue: If you generate the vanity address vanity.
Answer: Using Vanitygen-x 55
Once the address is generated, you can import the wallet using the command blockchain Oind Importprivkey