PacCoin POS FAQs
Frequently Asked Questions.
Here are some of the questions about the PacCoin and the POS functions in the coin’s design.
POS allows all PAC wallets to earn interest or more coins by holding them in their PacCoin wallet.
How long before I get a POS reward?
Your coins have to be in your wallet for at least 30 days before the stake and get a reward.
Do I earn rewards when my PC is offline?
No, you need to be online for POS rewards.
What happens after the 30 days?
Every 720 hours you will receive a 7-9% reward.
Do I need to decrypt my wallet for staking ?
Yes, go to help —> Console and type walletpassphrase yourpassphrase 999999
Do I need coins in my wallet to stake ?
Yes you will need 100 coins at least for staking.
If my computer updates or reboots will I have to start over?
No, your coins age is tied to your wallet ID as long as your coins are over 30 days old they are eligible to stake or earn rewards.
Why does my computer sound so busy when staking?
PacCoin POS uses a lot of CPU when staking as it is actually creating blocks when it stakes.
How much will I get for rewards staking?
You will get around 7-9% rewards on each transaction ID in your wallet. The more transaction ID’s you have the more your computer has to work to generate your rewards.
Why all the orphaned tranactions or N/A signs next to my POS mined tranactions?
Well, when the blocks are created the PAC network needs to confirm the blocks. This all has to happen within 60 seconds. This sometimes doesn’t happen in time and the block fails. It will try again later – don’t worry.
Will the new PAC POS like old PAC?
The current PAC was designed to POS and was still work in progress and the design is buggy and not perfect. The new coin is a two-tier system, where Masternodes replace the current POS block creation process with shared block creation across all the masternodes equally. This ensures a a more even distribution of new coins across the network.
What if I am mining PAC? Will POS still work?
Yes, POS is a higher priority than POW so it will still work. We don’t recommend that you mine or gen=1 PacCoin as it creates many, many small blocks of coins and transaction IDs. Each one of these ID’s or blocks needs to be POS’d and staked just like a larger block. The coin design lends itself to an efficiency problem where most of the work by the PAC network is wasted processing small unnecessary blocks.
When will the POS stop?
If you lock your wallet but also it stops if you make a transaction FROM your wallet to another, in which case your stake timer will reset and you need to wait again 30 days before you are eligible to receive a stake for rewards.