PoW vs PoP Mining

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See: Main_Page

Overview

Blockchain stats:

  • Total supply = 2.1B --> this applies to both TestNet and MainNet
  • A new block is expected every 30 seconds.
  • The total block reward is 87.5 VBK. This is split 50-50 among PoW and PoP --> This may change in MainNet
  • Halving period: Every 4 years; 210000 * 20 = 4,200,000 blocks --> This may change in MainNet

There are two types of VeriBlock mining:

Proof-of-Work Proof-of-Proof
Abbrevieation PoW PoP
Purpose Adds the next block Secures a block to Bitcoin

New Protocol See: PoP_Transaction_LifeCycle

How to run HowTo_run_PoW_Miner HowTo_run_PoP_Miner
Reward 43.75 (Split among pool that won the block) Average of 43.75 (Split among other miners)
Reward Coin Type VBK VBK
Limited by? Processing power (Hardware like CPU, GPU) and electricity spent.

You could run many PoW miners to get more hashes.

BTC for transaction fees.

You'd likely have just 1 PoP miner, but feed it more BTC to do more PoP transactions

Payout Shortly after block confirmed In 500 VBK blocks
Requirs BTC to run? No Yes (currently on BTC TestNet only)
Pool Mining Yes (see: HowTo_run_and_connect_to_PoW_Miner_pool) No
Interactive No Yes
Can mine with GPU? Yes* (in future release) No

FAQ

Should I mine both PoW and PoP?

There is opportunity in both forms; individual miners can determine which is best for their situation.