Proof of Stake is a consensus mechanism that must be followed to create a new group of transactions without the need for trust (called a block) in a distributed ledger called a blockchain. In the new era of digital currencies, there must be something to support the creation of coins, this problem is solved by the Proof of Stake technology.
Compared to PoW cryptocurrencies like Bitcoin or Dash, it is much easier and cheaper to participate in the network and receive rewards using QRAX. You can run staking even with 1 QRAX, and with Coin Delegation (DPOS) on the QRAX network, you have the ability to keep your energy and hardware costs as low as possible.
Staking is the process of blocking your coins for any period of time you set to help the network reach a proof of stake consensus by confirming every transaction that takes place on the network to permanently record transactions on the blockchain. As a reward for these actions, all participants who “minted” the next block receive a reward for the created block.
When a user has at least 1 QRAX coin in a synced QRAX wallet, that node is allowed to participate in the network with the appropriate stacking amount. QRAX uses an advanced Proof of Stake algorithm that effectively protects the network from intruders. This allows QRAX holders to receive block rewards simply by storing coins and helping to protect the network and keep it up and running.
QRAX is a decentralized peer-to-peer digital cryptocurrency that allows anyone, without intermediaries, to make fast, anonymous, secure and inexpensive transactions anytime and anywhere in the world. The network pays special attention to security based on cryptographic algorithms. The development of QRAX is aimed at providing protection, anonymity and augmenting the financial resources of users, making it a practical means for using it as an alternative method in the payment of goods and services.
The QRAX network was created by a team of investors and developers who contribute to the development of blockchain technologies in the context of emerging quantum attacks and robotization.
QRAX can be used anywhere as an alternative to cash and financial products from banks and corporations. QRAX is convenient to use especially where there are any obstacles to using traditional payment methods.
The value of QRAX is determined by how users find it useful for use and want to receive or pay QRAX for goods and services.
The QRAX transaction network is run by a decentralized cryptocurrency community. Governance is exercised through the voting function of the QRAX Decentralized Autonomous Community (DAO). The proposal system is submitted to the network for voting by the participants and the masternodes decide to fund and accept the proposal?
Any member of the network or group can submit their proposal for voting.
To understand whether the proposal will "pass" or not, it is recommended to discuss it on the forum.
QRAX is a cryptocurrency with quantum-resistant security and full decentralization, a unique economy and burned transaction fees.
An open source cryptocurrency that uses POS technology to get fair rewards from staking coins. The network encourages members to maintain the health and safety of the network. For storing balances and running the application online, users receive rewards in the form of a reward for the generated block. For the popularization of the network and the distribution of coins, the participant also receives a reward called assets.
The QRAX blockchain is a public register of all events occurring on the network. Each transaction is verified by a unique digital signature of the sender, which can only be created by the real owner, and thus there is no risk of double debiting of funds. Transactions are written in blocks, which are formed every approximately 60 seconds, and are protected by cryptographic algorithms.
Masternodes are servers and software running on a P2P network that allow nodes to use them to receive updates on network events. These nodes use a significant amount of traffic and other computing resources. Masternodes are very important to the health and resiliency of the network. A minimum of 2 masternodes is required for the network to work.
Online operation of a node in the QRAX network provides a reward for the formed block and for the fact of uninterrupted online operation. Rewards are awarded every block, that is, approximately every 60 seconds. The right to win the award is given to all participants and is determined by a complex formula using the parameters: wallet balance, the age of balances storage, the number of online nodes in the network, these parameters create sufficient competition between nodes to determine the eligibility for the award.
The user can receive a reward, even when the node is turned off for some reason, by delegating his balance to the masternode. The owner of the masternode does not have the tools to dispose of the delegated balances. The delegated balance can be revoked back at any time. This process is called DPoS (Delegated PoS) and provides all nodes in the network with healthy competition for the right to win the block formation reward. Stacking QRAX coins is very simple. By delegating QRAX for staking to an online masternode wallet, the owner of the coins retains full control over them. With DPoS, you save the private keys of your QRAX and receive offline rewards, while the online masternode wallet stays online for 24 hours