Ninjastic
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Board Announcements (Altcoins)
Re: [PRE-ANN] WAVES. Ultimate crypto-tokens blockchain platform.
by
KarlKarlsson_
on 17/05/2016, 11:34:01 UTC
Quote from: ExcelThroughKnowledge on May 17, 2016, 11:26:01 AM
Quote from: mxxxxxx on May 17, 2016, 10:07:35 AM
Quote from: ExcelThroughKnowledge on May 17, 2016, 09:57:24 AM
Quote from: KarlKarlsson_ on May 17, 2016, 09:38:41 AM
Quote from: ExcelThroughKnowledge on May 17, 2016, 08:59:52 AM
Quote from: mxxxxxx on May 17, 2016, 08:24:58 AM
Quote from: ExcelThroughKnowledge on May 17, 2016, 08:08:38 AM
Hi, I'm new here, can anyone fill me up how the PoS work and how does it reward us? Also how much would the reward be calculated? Thanks guys!

You will be able to receive rewards by using lite client and leasing your balance or by having full node. Details will be in tech paper - late May/early June.




Leasing my balance meaning to say lending my balance to users? Having a full node means? hmm.. I'm new so please guide me along.. Sorry for the questions asked.

There is no known calculation on the rewards as well, I'm intending to see what it has for my investment and what I would get back with the PoS..
There is no PoS interest in WAVES, the supply will remain at 100m. However, fees will be distributed to the node which is forging the corresponding block. To be frank, I assume most people are not investing in WAVES for the PoS reward, but rather for its technology and possibilities.  Smiley

I also assume that people didn't invest in WAVES just because of its technology and possibilities. They are bound to be waiting for rewards as well. No one would throw their money there just to rot and lose them am I right? lol... The fees would be taken from fiat and split to anyone who helps maintain a node? Which means to say we are getting fiat back instead of increased WAVES token?

Waves is inflation-less system, limited supply of 100 Mil. When full node is validating block it is getting fees from the network and from all transactions happening on the platform - issuing new assets, transferring, trading, converting supported currencies on the platform to tokens...together with all operations of other projects happening on the platform(all fees in Waves token). Then it is sharing rewards with lite clients which are leasing their balance to it.

Pardon my noobness >_> I still don't really get it.. If we were to take part in the ICO, all tokens will be divided equally in terms of our investments. If tokens were charged as fees, then wouldn't it require the investors to first use their token for exchanging before the whole thing could work? Sorry for the trouble explaining to me.. I'm learning..
Don't worry, we take our time to answer all questions.  Smiley

The genesis will be the start of the WAVES blockchain and with it 100m WAVES tokens will be created. This supply is fixed and does not change in the future. The tokens will be distributed according to the balances from the ICO page. At the beginning, fees will be fixed, e.g. 1 WAVES to make a transfer (this is just an assumption, not set in stone). Before block 2 is created, some people, let's say 5, make a transaction. The collected fees (5 WAVES) will be distributed to the node which creates the second block. The WAVES tokens basically just get redistributed among network participants but no new tokens are created.

To answer your question from the other post: People invest in WAVES because they see the potential it has. Also, do not forget that you will be able to trade assets on its decentralized asset exchange with WAVES as well. The tokens will be used for different actions which, in the end, creates demand for the tokens. And as mx explained, fiat currencies are excluded from the forging process.