Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)
What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?
Cheers
There will be two independent ways of staking. The peercoin utxo based and the chances of winning a block depends on the amount of KMD in each utxo along with its coinage. The older it is, the higher chance it has to win, so eventually even small amounts will be able to win a block. Of course, a 1 satoshi utxo will probably never win a block, regardless of how old it is.
The issue of the utxo based staking is that you need to have many utxo if you have a large balance and this creates bloat and starts taking a fair amount of resources to stake. However, it is the time tested way for a decentralized staking and I prefer to use such time tested methods.
The other method is the NXT style that is based on total effective balance. That is the method the notary nodes will use and it wont matter how many utxo you have, though if you are spending them and it is not old enough, it wont have the staking power. There will be a bundle boundary balance that serves as a maximum possible and it is adjusted by any balance changes. This avoids attacks based on moving funds all around to addresses that would win a block. Also after an address gets a payout, it will need to "recharge". This will allow smaller addresses to win blocks.
With approx 1440 blocks per day, 1/1440'th total supply will on average win 1 block per day. So a balance of approx 2000 KMD should get staked once per month. And however long it takes, all the interest will then be paid out.
Anyway, the exact details are still subject to change, but I am working to allow people to passively earn 5% per year without having to do anything, but if so inclined would be able to proactively stake on their node.
