Post
Topic
Board Announcements (Altcoins)
Re: [ANN][ICO] Minexcoin - A new era of payments (ICO closed!)
by
MineCoin.org
on 02/08/2017, 15:40:55 UTC
-> Yes, I know this. I don't make a reproach about delays, but about the pre-mined blocks 6 days (or more) before the public launch of the wallet. We need an explanation to clarify this.
2)
"1. The difficulty of the network is high, slow mining and blocks are slowly generated, so transactions are confirmed more slowly (each transaction confirmation is 1 new generated block).
After revision the difficulty (every 960 blocks), the mining process will be normalized and the confirmation of transactions will be faster."

-> This sentence makes no sense: one transaction confirmation = 1 block ? But to be paid, the miner generate another block ? Please explain me if there is something I don't understant, otherwise this is an infinite loop.

When you made a transaction, you need to wait for confirmation to make this transaction valid. 1 generated block it is 1 confirmation, 2 blocks - 2 confirmations for each transaction that is in the previous block and so on. What exactly confuse you?
Here is detail info about confirmations: https://bitcoin.stackexchange.com/questions/146/what-are-bitcoin-confirmations

- First thanks for the answer of the second question. My question was about the transaction generated by the mining reward ? Did this transaction need another confirmation, so another generated block ? This look like an infinite loop.

- Can you also answer the first question, to clarify all this please ?
Everything is very simple. If you generated block, you need 100 confirmations, after that your transaction will be valid.
If you transfer coins from the address to address, you need only 6 confirmations. This is not an endless cycle since each currency has a limited emission of coins.
Regarding the reward for the block, it is written in WhitePaper (https://minexcoin.com/html/download/wpeng.pdf ) that you receive 2.5 coins per block (20% goes to the  Minexbank).