Coin Control

From HoboNickels Wiki
Revision as of 21:54, 6 December 2014 by Tranz (Talk | contribs)

Jump to: navigation, search

Coin Control

One of the features added in Hobonickels version 1.3 is coin control. The original writeup for it can be found on bitcointalk. Coin control is an important tool for Proof of Stake (PoS) coins and lets users see what is happening during coin operations. By default when coins are sent, the coins are selected by giving priority to coins with lowest coin age blocks of coin – alternatively coin control lets users select specific coin blocks to use for transactions.

Optimizing PoS

Competing for Stake

Whether PoS is going to generate a block or not is determined by several factors. By looking at the age of the coins and the size of the blocks you can get a rough estimate of the possible rewards of running PoS. If none of the coin blocks are older than 10 days then they will not be eligible to compete for stake. Blocks become eligible after ten days of aging. After twenty days coin age has hit its maximum point for that particular block. Currently it is being debated whether or not the HoboNickels network should change to allow coins to continue to age until day 30 in order to allow smaller blocks of coin to be able to compete for stake more aggressively at older ages.

The HoboNickels network adjusts the PoS and PoW difficulties to target block creation once every 30 seconds.

Considering Block Size and Quantity