Hey there,
I just saw this thread and I have to admit, DNotes 2.0 looks very interesting! However, from the post there are a few tings that aren't quite clear to me.
1. Which consensus mechanism this coin uses. Is it Proof-of-Work mining or something else?
2. How many coins are in circulation?
3. What is the inflation rate per year?
Looking forward for some answers
-nytro
Welcome Nytrobound,
1. Which consensus mechanism this coin uses. Is it Proof-of-Work mining or something else?
We are currently using Proof-of-Work, however DNotes 2.0 will be released using the Proof-of-Stake model.
2. How many coins are in circulation?
Currently there are just over 120 million DNotes in circulation.
3. What is the inflation rate per year?
Current inflation rate is roughly 10%, DNotes 2.0 will be closer to 5%.
Welcome to DNotes, Nytrobound. We are happy to learn that you found DNotes 2.0 interesting. Since your questions have already been answered I am just expanding on your first question, (POS) for those who like to learn more.
The answer to your 1st question is found in the last section, Road Map 2017 or what we are currently working on Transition to POS. DNotes is currently a Proof of Work (POW coin) and being mined as one. Once DNotes 2.0 is launched in the coming months it will become a Proof of Stake coin with a unique way of rewarding all our long-term investors with balance held in their account for 30 days or more. We are committed to making it easy, convenient, and secured for all stakeholders to participate. Most POS offerings today are quite challenging and frustrating to participate for the average stakeholder.
Additionally, there is a staking reward of about 2% (annual rate) for those who are staking to support our network. We will make the process and participation as simple and convenient as technically possible.