Staking Wallets

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Staking wallets

QT wallets have been developed for general users. Daemon wallets have been developed for advanced users. Wallets will be maintained for all major desktop platforms: Windows, Mac, and Linux. QT and daemon wallets give ION holders complete control of the security of their ION, with controls to send and receive transactions. Online wallets contribute to network security by confirming successive blocks of validated transactions as they are added to the official blockchain, thus maintaining the complete ledger of all ION transactions.

  • Coins required: No minimum. (Wallets must contain a non-zero sum of IONs to receive stake rewards.)
  • Wallet stake reward = 50% block reward for each discovered block.

Staking is probabilistic, and probability is distributed according the amount of ION in the wallet address (coin weight) and the duration ION is held in the continuously connected wallet (connectivity age). Valid network connectivity requires that the wallet be connected to the internet with a sufficiently high-speed, stable connection to support the blockchain.

Previous versions of Proof of Stake require what is known as checkpointing. Checkpointing is a centrally broadcasted full node that is signed by the developer and is designed to help verify coin stake before it is accepted into the block tree. In ION, every node is a full node, and because of this no checkpoint system is needed. By removing this partial centralized dependency that existed in previous PoS versions, all nodes are fully authorized and makes a network attack far more difficult.

The above content has been copied from the white paper and is subject to change, for the latest version please visit: https://github.com/ionomy/ion/wiki/ION-Technical-Whitepaper