RE: Getting Smart with Consensus Mechanisms: Proof of Work Mining

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Getting Smart with Consensus Mechanisms: Proof of Work Mining

in vicetoken •  7 years ago 

We definitely agree. Even more so, Delegated Proof of Stake ;)

vicetoken
7 years ago by

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      ·  7 years ago 

    I sent you guys an e-mail asking about the testnet and also the conversion from ERC-20 Tokens and how that is going to take place but I never got a response.

    It was announced a couple of months ago that there was this testnet https://testnet.vit.tube but the faucet doesn't work to create accounts on it and content was never added to it. Is there another testnet?

    Also how is the conversion from the ERC-20 Tokens to the mainnet coins going to take place?

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        ·  7 years ago 

      The process for converting the ERC-20 tokens to the native VIT will be provided once you're able to do so, which will be after the platform launches on June 28th.

      As for the testnet, it is for internal testing, so you won't be able to start an account on it as of yet. Very soon though! :)

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          ·  7 years ago (edited)

        Thanks for getting back to me. Also I'm wondering if the witness and seed nodes are just going to be operated internally from the start? I'm interesting in becoming a witness on the VIT blockchain when it launches.

        Also I'm wondering if VIT is going to have the same inflation rate that STEEM currently has? Around 8% or so and reducing by 1% each year?

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            ·  7 years ago 

          We're actually on-boarding witnesses now to secure the network. There's a discord channel for that if you'd like to contribute!
          The inflation rate for VIT will start at 10%, and decrease by 1% each year, until it reaches 1%, and then will remain constant. Very similar STEEM, it just starts out a bit higher.

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              ·  7 years ago 

            Ok, thank you!

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