I was able to mine Ripple for a time using boinc, will Stellar offer something like this? are there other ways to mine Stellar?
The Stellar network does not have a mining-based currency. At the network's genesis, 100 billion stellars were created. The only other stellar creation mechanism is inflation. To account for both economic growth and lost stellars, there is a fixed 1% annual rate of new stellar creation. These new stellars will be generated on a weekly basis and distributed via a direct voting method.
Mining in the Bitcoin network: 1) creates the currency 2)distribute the currency 3) verifies transactions across a distributed, decentralized system.
Stellar achieves the first by generating the stellars at genesis. Distribution of stellars is regulated by the Stellar Development Foundation, the nonprofit that supports the protocol. 95% of all the stellars are set to be distributed to as many people worldwide as possible through a series of giveaways specified in their mandate. Stellar achieves the third—decentralized agreement—with the Ripple Consensus Algorithm. In future, Stellar plans to switch to a new consensus algorithm called Stellar Consensus Protocol (SCP). The technical details of SCP are detailed in a white paper by Stanford Professor David Mazieres.
One can acquire stellars by trading on an exchange, trading within the Stellar network, being a recipient of inflation voting, and/or through the Foundation's giveaway programs.
"All these Stellar Cores—the network of nodes—eventually agree on sets of transactions. Each transaction on the network costs a small fee: 100 stroops (0.00001 XLM). This fee helps prevent bad actors from spamming the network."
They collect transaction fee's and offer their core to download.. Sounds like mining fees to me. However they never mention "mining"
So to mine install the "core" software I guess. Trading for XLM or being gifted XLM is not the same.
protected by Community♦ Jan 17 '18 at 19:00
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