Post
Topic
Board Altcoin Discussion
Re: Learning about Proof Of Stake (BLK or other?)
by
GeekWisdom
on 24/08/2021, 16:55:42 UTC
I realize it's a little wrong to answer my own question, but I figured it out with members of the Blackcoin discord channel.

With Blackcoin's Proof of Stake, each coin is like a 'lottery ticket'.  When you 'win' the prize of being allowed to commit a block, you get 1.5BLK

But what actually happens, is that a transaction is created (with both your address as the 'from and 'to') which includes the total amount you had staked plus an output for the 1.5BLK

This new balance then gets moved into a 'holding' area in your wallet, which is thy blackmore-cli getinfo returns 0 balance.

BUT blackmore-cli getwalletinfo still shows the correct total balance but it shows in the 'staking-balance' section

It shows therefor about 9 hours (ie: you can't play the staking game again until the 9 hours are up).  After which the coin goes back into your 'getinfo' balance and the staking occurs all over again.

So nothing was 'stolen', it's just the way the staking protocol works.

And I committed my first block to the chain  Grin

The balance of getinfo is back now, and I wanted to let anyone else know in case they have a similar 'issue' perhaps this thread will help