Hello,
Was staking and see that there is an assigned 'Stake Weight' and 'Network Weight'. What would those numbers mean? Just curious.
Proof of Stake (PoS) is a method of securing a cryptocurrency network where users show ownership of coins in order to sign blocks. In the long run, the probability of signing blocks is proportional to the amount of coins owned, that is, someone owning 1% of total coin supply will be able to sign 1% of all proof of stake blocks. Compared to proof of work approach, proof of stake requires significantly less computational power, and thus less energy usage.
The wallet's weight and the total network weight is an estimated average time it should take to successfully sign a block and stake coins. The green Up Arrow icon shows that the wallet is actively staking, while the green Check Mark shows that the wallet is fully synchronized with the Reddcoin Network.
The Network Weight is basically the amount of other coins staking on the network at one time. Your stake weight is the amount of weight on the whole network your wallet holds.
More Weight = More Stake.
Guys we need more people staking.
Please open up your wallets and stake coins by unlocking the wallet, and help the network speed increase by doing so.
Cheers,
MasterTrader777