I have nushares but not minting. Any problem for not minting?
Minting is how the Nu blockchain is validated and secured, so the higher the proportion of shares that are attempting to mint, the stronger the network is as a whole. If you aren’t minting you also aren’t able to exercise your right to cast votes for custodial grants, motions, or to set the parking rates. Sucessfully minting a block results in a 40.00 NSR reward, so you’re also giving that up by not minting.
It’s a personal choice if you’d like to do it or not, but unlike a lot of proof of stake systems, the voting aspect of Nu’s minting provides a larger incentive for shareholders to do it.
I only stay online for 5 to 6 hours a day. So, I’m able to mint only for 5 to 6 hours. Is it ok?
Also for minting I have to unlock my wallet. Is it safe?
Advance thanks for your reply.
There is a menu item called unlock for minting only that will make it safe.
Will I get reward for minting 6 hours everyday?
in the transaction tab you will see an incoming tx of 40 NSR, and you will receive a system notification, and your balance gets bigger
I’ll start minting from now.
How would I know that, my wallet is minting?
I just wonder if the “cold minting” will be used in NSR and if it is useful to voting mechanism
If it’s unlocked for minting only or totally unlocked at all, it mints.
Ergo it tries to find blocks
You can check or mouseover the lock icon in the lower right.
Nushares minting works a lot like Peercoin minting, which has a video walkthrough: https://www.youtube.com/watch?v=k7WU8JM8Dy0
If you are not online, you cann’t accumulate Nu coin days while you may “cheat” in peercoin minting by occasionally online. Am I correct?
Being online or offline doesn’t affect the rate that you accumulate share days. From the website:
Share days are accrued by shares if they are undisturbed (not sent or staked) after becoming a verified transaction. After seven days, shares are fully matured (usable for minting). Holding shares beyond this date has no impact on the difficulty of minting a block. This creates an incentive for NuShareholders to mint as soon as possible.
If I am off line, I shouldn’t accumulate coins day.
Why not? What’s the point in forcing people to be online in order to gain days?
If you off line, natually you cann’t mint or contribute to netweork security, why give you extra coins day?
[quote]2) To maximize the influence of your voting and gain the largest amount of NuShares as block rewards, you need to mint constantly. If you only unlock your wallet for minting half the time, you will only get slightly more than half as many blocks and votes as if you were minting constantly.
You aren’t minting or contributing to network security if you don’t have 7 coin days to begin with, and 7 is the max. It really depends on how may NSR you hold, and whether it is possible for you to have all/most of your NSR mint at once. If you have a lot you probably should mint constantly.
In my understanding cold minting will be used by nushares to make minting even more secure and then implemented into peercoin later on.
Perhaps @sigmike can give details about that.
I could be mistaken, but I believe I heard Jordan say he wasn’t too keen on the idea of cold minting for Nushares, as he hadn’t seen a version of it that didn’t introduce a security risk. He was more interested in something along the lines of PeerBox for NuShares.
i ve just found that: More minting needed .
If his mind has not changed in between, you are right.