Thursday, July 13, 2017

VirtacoinPlus Staking

VirtacoinPlus Staking

What is staking?
Staking is the process of proving ownership of your coins, and gaining interest on your wallet balance. Staking is very straightforward and can be done by anyone with a wallet.  Based upon the number of coins being staked (occurs when the wallet is open and unlocked), the interest rate varies. The more coins staked, the higher the interest rate. This provides incentive for keeping the client open and unlocked, further securing the network. The additional security ensures that the blockchain is not compromised and forked. In addition, it provides incentive for owners of the coin to use it as a savings vehicle as it earns interest at a more reasonable rate and more representative of a real economy.

VirtacoinPlus Staking 
VirtacoinPlus has started staking since April 24, 2017, At the beginning of staking, VirtacoinPlus only will stake on desktop wallet, with some balance connected to the internet. The balance is your 'stake' and you get rewarded for staying connected, thereby supporting the XVP network. Staking with a desktop wallet will get you a 7% interrest on your deposits for 1 year. However, that 7% is based on having your desktop wallet open 24/7 for a whole year.

How does staking work with your online wallet? 
Currently VirtacoinPlus system allow your online XVP wallet to earn from staking as well!
The new system collects the daily staking rewards of all server wallets. This amount is then distributed over all online wallets proportional to the size of their balance relative to the total of all balances. For example, if the total collected staking rewards on a certain day is 100 XVP and your balance on that day represents 1% of the total of all balances on you will earn a 1 XVP stake reward for that day.

Stake rewards' field will be added to your online wallet. Every day it will be increased with your staking earnings for the day. When the total reaches 5 XVP the total will be added to your wallet. Although the XVP specification mentions a 7% staking reward for 1 year (if online 24/7) my experience so far shows variable results. So, we'll have to wait and see how it turns out. However, the online staking reward will NOT be limited to 1 year. As long as you have balance in tour online wallet you will earn some staking reward, however small it may be. The new system will go live tomorrow, so don't forget to login and check it out!
or Register VirtacoinPlus Online Wallet

VirtacoinPlus Staking on PoSWallet
Online Staking Wallet STAKE YOUR CLAIM
Free, secure cryptocurrency staking wallet for users to earn proof-of-stake altcoins. Supports over 70 altcoins with a wallet, block explorer, and faucet. PoSWallet is a project that was born from the tremendous need of the Crypto Community to have a single place in which they would be able to keep their holdings safe, stake their PoS (Proof of Stake) Coins and have a complete crypto currency exchange just in one single account! For more detail visit

Basically, the strategy involves taking the money you would have spent on mining hardware and purchasing high-stake coins from a coin exchange, sending them to your personal wallet, and from there watching the balance grow. Yes, it's just that simple. In this scenario, proof-of-stake minting replaces the usual proof-of-work mining for block generation, otherwise known as securing the network and processing transactions. The more coins you hold in your wallet, the more chances you have of solving blocks and reaping stake rewards. There is no need for specialized hardware or software beyond your own personal computer and the specific coin wallet – a typical PC or laptop can easily run several staking wallets simultaneously – and the wallet does all the work of minting for you automatically. It's like having a high-interest bank account on your home computer.