Post
Topic
Board Altcoin Discussion
Re: POS coin that you don't need wallet open 24/7?
by
Marc De Mesel
on 09/09/2016, 13:47:41 UTC
NXT ofcourse.


The only one having no inflation, miners are payed with the transaction fees only.

This means, you don't have to validate transactions to keep your share of the currency.

So no need to have client open.

I've never thought that you could stake your NXT without the need to leave your wallet open 24/7. So that means that I can forge for example 10,000 NXT and then be able to receive stakes the next day without opening NXT wallet? If so, then it is pretty awesome. Also, NXT will be changing soon to Ardor so I think that this will make it a profitable journey for early NXT holders.  Smiley

Actually, it's little different. What I meant is that you don't have to stake because you don't lose your percentage ownership in the coin if you don't stake. Most POS coins have inflation that goes to stakers, and so if you don't stake, you are losing slowly but steadily your percentage ownership of the coin. So, you have to stake.

With NXT this is not the case because there is no inflation. The stakers get payed with the transaction fees only.


But you seem to be interested to stake without having your wallet open. This actually is possible in NXT as well, you can basically lease your staking power of your coins to another account, and they will stake with your coins, but they can't spend your coins, so you have no counterparty risk.

In NXT they call staking, forging. A 'forging pool' usually takes a share of the forging income. You have to renew this only once per month or so, so shortly login and then you can close your wallet again for a month.  Cool