The monetary system in NXT / Ardor lets users create their own coin, but also gives the ability to distribute these coins via mining for it using one of the protocols (scrypt/keecka/etc...). When mining for these coins, who pays the network to send these monetary system coins to these users? Are there any fees involved? And when a user successfully mines a coin, do they have to have the native currency in order to send it out?
asked Mar 29, 2017 at 15:54
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1 Answer
I spoke with Bas and he mentioned that like with mining, the coins themselves aren't really sent but rather generated, in a similar manner with mining on Bitcoin. Because of this, there are no fees involved.
Regarding sending out the currencies though, they will need to have the native coin in order to send it out. So with Nxt, this would mean that the user would need to have NXT. On child chains on Ardor, such as IGNIS, users will need to have the native coin of the respective child chain the currency is created.
