so are you saying in other words, that you do not get a percentage for staking? but are in esence, competing for POS? I thought POS was like interest% not mining?
The idea about PosP is interesting but since there is competition between open wallet, those who have few coins cannot compete against those who have large stash. I believe this only benefits those who have huge bag of CBX. Not a small holder friendly. It is not participation but rather competition.
Depends on how many CBX you have and how much competition is out there staking against you. After 1 hour online your CBX is eligible to stake and once you do get a block, another hour must go by before you are eligible again. How many are staking?
If they can address the issue of the competition but give an equivalent share of stake of the coins that are not currently staking to those open wallet would be awesome.
Couple of things here:
In traditional PoS one would receive a set percentage of annual interest on their coins, let us use CBX's 2% inflation in this example. In order for one to receive this, they would only have to open their wallet periodically based on the settings - typically every 30 - 90 days, receive the payment and then close their wallet. The coins they own are doing very little to promote security or confirm transactions and they still have to compete against other wallets (days * coins equation for priority of staking order).
In PoSP this structure is changed forcing stakers to 'earn' rather than just receive. Earning PoSP interest is dependent on contributing to network security and transaction confirmations. In order to do be eligible, one must keep their Vault (wallet) running and after a period of 1 hour, they start to compete for the blocks occurring every 65 seconds. Larger wallets will win more blocks, this is true but they still have to wait 1 hour after staking and compete with the smaller wallets that are accumulating via the 'days * coins' equation - just like the traditional model. The end result here is that everyone who owns coins and stakes continuously will earn 3-6 times higher interest (6% -12% annually) then they would in the traditional model since all coins will never be participating at all times (coins at exchanges, in cold storage, lost coins, etc).
We prefer this model of rewarding those who participate in supporting the network to one that just pays an interest for owning coins.