The higher and longer the staking participation takes place the higher the incentives will be provided. By the process of staking a block gets validated. The transaction fee and incentives of the stake are transferred from genesis wallet to main wallet and then to staking wallet. In Buxcoin staking program, the least option is to keep the users wallet connected to the internet for atleast 8hrs and stake of 10% will be rewarded for entire community.
There are two conditions in POS participation
- Balance of participators Wallet has to be not more than 10% of total supply of coins (i.e. 50 million coins) to participate in staking to prevent major stake acquisition.
- If the participators Wallet balance is more than 10% the staking option cannot be triggered.
Process Of Staking
- Download the QT wallet and install it ( follow the procedure in cold storage topic to install the QT wallet).
- Make sure the computer is connected to the internet.
- Open the cold wallet.
- As soon as the wallet is opened the staking takes place.
- The coins will automatically get into staking process.
- After a block gets added to the blockchain and the consensus reached, the reward starts to deploy.
- The reward will be distributed according to the the staking amount and added to the wallet.
- The rewarded coins will again follow staking process.
The staking takes place with maximum of 2 million coins only at a time. The staking programs takes place automatically and has no option and features currently.