I'm Trying To Understand How Pos Mining Works

Discussion in 'Proof-of-stake Mining' started by neo cortex, Feb 26, 2016.

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  1. neo cortex

    neo cortex New Member

    Dec 17, 2015
    Quick question regarding PoS voting and PoS pools, im still trying to wrap my head around it. I hope this is the right thread :)
    From the wiki
    • PoS acts as a "2nd authentication factor" on the content of blocks created by PoW miners, providing a check on the power of PoW miners.
    • PoS can effectively force soft and hard fork upgrades by voting against PoW blocks that do not adhere to new rules. This creates a notion of continuity across forks that is not possible when using pure PoW.
    • PoS helps to democratize the process of deciding what software upgrades should and should not happen.
    • PoS rewards create an incentive for users to hold their coins and participate in the PoS consensus process.
    This is my understanding of how PoS works, please please correct me if im wrong :)
    PoS miners vote on whether a block that is mined is okay with the community, so assuming we have block size issues in future(I hope not lol) and a miner decides to mine a 48MB block; PoS can vote against it and render it invalid.

    1)What happens to the transactions in that 48MB block, are they lined up for the next(valid) block?

    2)suppose Im solo staking( that the correct term yea?) and I buy a truck load of tickets does that not increase my chances of being selected(albeit randomly) to vote? if not please explain the ticketing system to me

    The testnet PoS pool is live (or being tested) yea? so assuming all goes well and a mainnet pool is live, and everybody joins 1 mainnet pool;
    3) does that not 'centralize' the voting process?
    From what I have seen so far there is no limit on the amount of 'voters' a pool can have, so the biggest pool with a shit load of tickets(this refers to question 2 if Im correct about this) have the higher chances of being selected to vote(tons of voters with tons of tickets),
    4) What measures are in check to ensure certain pools don't drive their own agenda; or to phrase it differently are there limits to the size of PoS pools or anything that prevent a certain pool from wielding too much power over voting?

    5) Also in a PoS pool how are the votes counted? is it a case of simple majority? more 1's than 0's mean 1's have the vote?

    6) another one for you, there is a 30% of the block subsidy (same as reward yea?) that goes to PoS mines. How is the reward divided in a PoS pool? is it divided into 100 equal parts for the 100 voters in that pool or what?

    Just trying to understand the PoS concept here gents, any help is welcome :D :D

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