Quote from: organizer on March 10, 2014, 11:16:09 PM

Quote from: thekidcoin on March 10, 2014, 03:27:50 PM

Quote from: refer_2_me on March 10, 2014, 03:11:14 PM

Can you explain the "Proof-of-Block" a little more? I don't get it? You can get coins when you make transactions? Or am I misunderstanding? Couldn't you just endlessly send coins to your self?

You could endlessly send coins to yourself sure, but fees would eat up your funds, its based on addresses in the previous block converted to a hex format, a snippet of that address then used to search the previous block hash for matches, if there is a match the address receives part of the mining subsidy. Its not very easy to have a match. Because of this, there is additional checking the verifies the coinbase transactions including address, value, size etc further securing the blockchain and eliminating the possibility of disabling the functionality.

Ah ok, so it's really a Proof of Transaction or like that... i thought it might have been tied to solo'ing a block or something.

Also, what's the POS specifics... wallet open and unlocked, etc?

Hmmm it could be. I was never good at naming stuff LOL. It could go either way though since you are in a sense verifying the hash, coinbase size and transaction for every block, even when there is no match. Same token you are verifying an address.

POS is wallet open, and unlocked for minting... you don't have to unlock the entire wallet