Even though we only talked about GuerillaCoin yesterday, there is still some clarification to be done on the subject it seems. If you haven’t read it yet, catch up on this article first. Let’s take a closer look at how this Proof–of–Strength feature actually works.
In order to explain GuerillaCoin’s Proof-of-Strength feature, had to wait until the Proof-of-Stake part kicked in, which happened at block 6,000 overnight. Ever since then, when users open up their GuerillaCoin client, they will see a coloured bar indicating their Proof–of–Strength.
Proof-of-Strength basically means “which proportion of the total network weight belongs to you”. It’s a more graphical representation of your staking weight , which you can usually find in the bottom right corner of your GuerillaCoin client.
My bar is colored yellow and is about one-third full, indicating I am classified as a “Miner” on the network. It’s nice to see the GuerillaCoin developers added some sort of “ranking” system in this Proof–of–Strength feature.
What is even more interesting, and equally important, is that GuerillaCoin does not have a fixed Proof-of-Stake interest rate. The more people on the network keeping their coins in a staking wallet, the higher the stake becomes for all of us.
As I’m writing this, the stake interest has varied between 3.06% and 3.22% roughly. Considering the fact this figure updates every 30 seconds, you can easily judge movement of coins by other people on the network. I really like this feature to be honest.
I really feel like network-dependant staking interest could become a very important feature for the Crypto world in the future. A fixed rate is great and all, but a variable rate does incentivise people to keep their coins in their wallet instead of dumping them.
I have included a screenshot of my staking GuerillaCoin wallet below, showing off the Proof-of-Strength bar and the interest rate :
With over 350 Bitcoin in trading volume over the past 24 hours on BitTrex, there is a clear interest in GuerillaCoin, so you might want to keep an eye on that as well.
GuerillaCoin donations are welcome to : G7ne6KQ6YbJuq5o8tnfH4PfnegWsJcAqZv