Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
by
tokyoghetto
on 01/08/2014, 13:28:05 UTC
Guys correct me if I am wrong but there is a hidden gem here:

PoSA requires that PoSA nodes hold X amount of coins for a PoSA transaction to happen. Lets say Dave wants to send Alice 1000 CLOAK. There needs to be 2 PoSA nodes that have 1000 CLOAK in order for the PoSA transaction to happen. If there isn't, then Dave can't send the Alice the 1000 CLOAK.

why is this important? Well very simple.....FEES!!

If you are running a PoSA node with lets say 1K CLOAK, then your node has a higher chance of conducting 1K CLOAK PoSA trades. Not many nodes will have 1k CLOAK in the future, as price continues to rise. PoSA will still work becuase its not like only 2 nodes will exist with that many CLOAK, but its not like there will be 1 million of them. Heck DRK only has about 800+ Masternodes at the moment.

How does this differ from running a DRK Masternode?

As i understand it, DRK masternodes take 20% of all the PoW mined coins as payment for running a node. More nodes = less DRK for each masternode, since there is a fixed number of coins that get mined everyday.

With PoSA nodes, more PoSA tx volume = more fees. In the future it will be very lucrative to run big CLOAK PoSA nodes so that whales can do big PoSA transactions. Don't forget that the fees are percentage based as well.

Am I making sense here, or do I have it all wrong?