The next step in LEOcoins evolution
LEOcoin intends to move from a Proof of Work (POW)/Proof of Stake (POS) to a solely POS mechanism. In this regard, I will today post the second of three updates to shed some more light on the reasons, motivations and timing. The source is the last lecture of Mr. Sohail Ramzan on Bali. I have summarized this and will state it as it is for your information only and not further discuss the contents of his presentation.
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Part two:
Details on the Proof of Stake mechanism
Instead of the random 20 LEO reward per block, itll be 1% of the LEOcoins that were staked
Every LEOcoin has equal chance for POS reward, based on age
Coin Age = Number of Coins * How Long Since Theyve Moved
Large batches of LEOcoin that were recently received have the same chances as small batches of LEOcoin that were received a month ago
Option to turn-off Staking process when you want to spend LEOcoins
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last part tomorrow