Money makes money

EmercoinEmercoin
$0.01736
0.68%
5Y Ago
medium.com
Money makes money

Instructions: How to earn Emercoin by taking advantage of the PoS algorithm

The Emercoin cryptocurrency is based on a hybrid mining method — Proof-of-Work (PoW) + Proof-of-Stake (PoS), which allows users to earn EMC cryptocurrency in different ways.

In PoS protocol, the selection of the computer which will add a new block to the blockchain of the system is random, but chances are higher if one has more coins on their account. This means that earning through the PoS is encouragement for the users to keep their EMC coins in the wallet service, because in this way they support the work of the whole system. Sometimes, floating around the Internet you can find such terms as: mint, minting, stake. This is all about making money by money.

So, the earning plan on Proof-of-Stake through the cryptowallet software, installed on the PC and using Emercoin interface is the following:

To gather Emercoins in your cryptowallet. The minimal number of coins to begin earning is 150 EMC. Over the current difficulty (detailed below), this amount helps to produce additional coins, but a lower amount can’t do this. The maximum number is not limited, but you need 8500 EMC for monthly generation. And the coins must be transfered to the account using one transaction. You will receive 150 EMC by transferring 50 + 50 + 50 to different wallet addresses, but this amount will never produce new coins over the current difficulty.To encrypt the wallet, selecting Settings > Encrypt Wallet and create a strong password. If your wallet is encrypted successfully, a lock icon will appear at the right bottom of the client. You should encrypt only for your safety, but if you don’t do this, minting will also happen. To allow access to the wallet for mining. To do this, you should click the lock icon and in the pop-up window choose the option “Mint only mode”.If the settings are correct, the lock icon in the right bottom corner will change to a half-open lock icon. If you see the lock icon, then by all means click it! To maintain coins on file in the wallet open for mining. You can’t spend EMC while keeping coins this way. The minimal storage time of unspent coins in the wallet is 30 days. Only at the end of this period are they defined as “ripe” and can be used by the system to generate a new block. When the “age” of the coins allows them to be generated, their amount is displayed in the field “stake”. The maximum chance of obtaining the right to generate a new block have those wallets with EMC that have been saved there for 90 days.

When saved coins are successfully used by the system for new block generation, the information about the transaction can be seen in the field “recent transactions”, and the used coins together with the payment are displayed in the field “balance”.

The average annual income from PoS Emercoin is 6 %.

On the Emercoin Explorer website, there is a calculator to estimate return on assets in the wallet. Users are required to enter the value of two variables — the amount of their tokens on the account and the number of days during which the cryptocoins were kept in the wallet. The value of the third variable — the difficulty of mining in PoS — is provided by the calculator automatically depending on the current system status. Three of this variables are used by the calculator to estimate the possibility selecting the client’s wallet for new block generation (Minting Chance) — the possibility is expressed as a percentage per day. The calculator also estimates the expected reward in EMC (Estimated Reward).

EMC cryptocurrency mining in PoS is also possible without using the Emercoin interface; for example, you can receive payment while keeping EMC in such on-line cryptowallets as mintr.org. These opportunities are worth talking about, but some other time.

There are some advantages in comparison to mining:

You don’t need ASIC, a video card or processor unit. Having a simple office laptop with wallet software on it is enough. This means you don’t need to buy expensive equipment, operate it terribly and then bother with giving it to someone.The difficulty of PoS is not very high, so it’s much easier to predict revenue, which is always stable. Here is a complexity graph for all time:

What else can you read? For example, a manual on PoS on our Wiki website:

Related news

2Y Ago
BOTS, Inc. (OTC: BTZI) announced today that it has signed an evaluation agreement with Emercoin!
BOTS AND NFT MARKETPLACESAN JUAN, March 22, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), a vertical integrator and an emerging innovator of products, technologies, and services for the rapidly growing digital robotics automation and manufacturing industry, announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. Emercoin technologies include: 1. emerSSH - Secure shell management system needed by every site admin 2. emerDNS - Uncensored domain name system, peering with OpenNIC 3. emerLNX- Decentralized pay-per-click advertising network. 4. emerSSL - System for password-less authentication on the world wide web. 5. InfoCard - Storage for electronic business cards for use with EMCSSL, allows digitally storing business cards as NFT token. 6. emerTTS - Trusted storage for digital timestamps on the blockchain. 7. Magnet - Distributed torrent tracker for internet file sharing. 8. emerDPO - Digital proof of ownership solution for physical or digital goods and services, including NFT (Non-Fungible Tokens platform) 9. FV - File Validator: check integrity for files received from untrusted sources- designed to validate NFT certificates 10. ENUMER - Distributed VOIP routing service, compatible with ENUM protocol. 11. Randpay - High-scalable stateless micropayment service for IoT or analogous applications applicable for the NFT marketplace. NFT- (non-fungible token) is a data (algorithm) unit on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, audio, video, and other creative work forms. While the digital files themselves are infinitely reproducible, the NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership. Blockchains such as Ethereum, Emercoin, First Bitcoin (majority-owned by BOTS Inc), and Flow each have their own token standards to define their use of NFTs. NFTs can be used to commodify digital creations, such as digital art, video game items, and music files. However, access to any copy of the original file is not restricted to the owner of the token. The first NFTs were Ethereum-based and appeared around 2015. Increased interest in the market for NFTs has resulted in increased speculation, as some of the same investors who had previously speculated on cryptocurrencies began trading NFTs at greatly increasing volumes. NFTs mostly run on a proof-of-work blockchain, which is less energy efficient than a proof-of-stake blockchain. Emercoin platform is designed to be energy and transaction cost-efficient. It is one of the first-ever NFT platforms in existence. In a recent CNBC article titled Crypto, collectibles are selling for thousands — and celebrities like Mark Cuban are cashing in, describes the fact that the cryptocurrency world is abuzz with talk of digital collectibles, unique virtual tokens that can represent anything from art to sports memorabilia. People have been paying hundreds of thousands of dollars for these NFTs or non-fungible tokens. One investor, Sheldon Corey from Montreal, Canada, told CNBC he paid $20,000 for one of the thousands of computer-generated avatars called CryptoPunks. NBA Top Shot, a platform created by Dapper Labs in partnership with the basketball league, attracted $147.8 million in sales in the last seven days, according to NFT data tracker CryptoSlam. The service lets users buy and sell short clips showing match highlights from top basketball players. Even Mark Cuban and other celebrities are cashing in on the NFT craze. The billionaire, Dallas Mavericks owner, has auctioned digital goods online and owns some himself. The increased momentum for these tokens comes as bitcoin and other cryptocurrencies have rallied significantly in recent months, and at a time when people are spending more of their time indoors due to coronavirus restrictions. BOTS Inc is also evaluating investing in Emercoin Group to support Emercoin's market expansion and acceptance worldwide, emphasizing NFT developments. Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer monetary values. Emercoin is a technological platform for distributed, censorship–proof and scalable distributed ledger services. So, we developed a suite of services running on top of the Emercoin blockchain that will be especially useful for many companies and even private persons. We developed NFT technology several years ago." Also, our goal is to provide stable, robust, and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficiency and security. "We are excited to have the opportunity to evaluate this unique technological platform and possibly invest in EMERCOIN, especially due to their partnerships with Microsoft Corporation (NASDAQ: MSFT), RedHat, Bitfury, and other leading companies in this space- to deliver their blockchain services as Blockchain-as-a-Service marketplace, also known as BaaS Platform," -commented Paul Rosenberg, CEO of BTZI. "We are always looking for disrupting new and promising technologies while we are ready to invest in those companies to help them to market their technology worldwide." About EMERCOIN Group Emerson (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin, and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency, and blockchain platform, has partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real-world solutions for business and consumer use. Emercoin Blockchain uses EMC to provide various services. It is generated by the dual mining of PoW and PoS. Its total supply is balanced by PoS with an annual increase of 6% and the application consumption. Emercoin Blockchain has already offered numerous real-world solutions. It is the top choice for secure and decentralized business operations in the public blockchain. Emercoin will be delivering its suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and use Emercoin's many services such as digital proof of ownership and identity, password-less authentication on the internet, network security, the first distributed advertising network, and many E-commerce solutions like the Emercoin secure micropayment service. For more information, please visit www.Emercoin.com. About BOTS, Inc. Headquartered in San Juan, Puerto Rico, BOTS, Inc. - publicly traded on the OTC Markets under the symbol (BTZI) is a diversified company developing and servicing blockchain, cybersecurity, and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA). Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our SEC filings, press releases, public conference calls, and webcasts. We also use social media to communicate with our subscribers and the public about our company, services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in our company to review the information we post on the U.S. social media channels listed below. This list may be updated from time to time. Track BTZI news on Facebook @ https://www.facebook.com/Bots.Bz/ Follow BTZI news on Twitter @Bots_bz http://www.Twitter.com/Bots_bz Find BTZI news at http://www.bots.bz Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit http://www.bots.bz Visit BTZI on Facebook https://www.facebook.com/Bots.Bz/ Follow BTZI on Twitter @Bots_bz Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings. Contact: Paul Rosenberg CEO [email protected]
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