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Update contactus.html
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@Sentinelrv
Sentinelrv committed Feb 14, 2019
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Expand Up @@ -74,23 +74,23 @@ <h5>How old is the Peercoin project?</h5>
<h5>How can I mine Peercoin?</h5>
<li>Peercoin uses the SHA256 cryptographic hash function. Any hardware that can effectively mine Bitcoin can be used to mine Peercoin.</li>
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<h5>Why a 1% minting return on staking? Why isn't there a hard limit on the total number of Peercoin's? Doesn't this disqualify Peercoin as a deflationary currency?</h5>
<li>Peercoin has a 1% inflation rate to allow for participant determined growth over time. Fully deflationary currencies cannot be used as mediums of exchange, but rather solely stores of value. By allowing for a manageable inflation rate, Peercoin remains scares while allowing for growth determined by participation. This also helps offset coins that are removed through circulation through lost wallets or malevolent destruction.</li>
<h5>Why a 1% minting return on staking? Why isn't there a hard limit on the total number of PPC? Doesn't this disqualify Peercoin as a deflationary currency?</h5>
<li>Peercoin has a 1% inflation rate to allow for participant determined growth over time. Fully deflationary currencies cannot be used as mediums of exchange, but rather solely stores of value. By allowing for a manageable inflation rate, Peercoin remains scarce while allowing for growth determined by participation. This also helps offset coins that are removed from circulation through lost wallets or malevolent destruction.</li>
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<h5>Why a fixed transaction fee?</h5>
<li>Peercoin has a fixed transaction fee filters out spam transactions which have damaged chains like Bitcoin. It also allows for predictable sending fees, which may become rapidly unpredictable on chains where fees can rapidly change leaving transactions in limbo for several days. This allows for first come, first serve transactions as well. Peercoin is able to scale without worrying about valuation effecting the usability. In version 0.7, the transaction fee is being lowered from 0.01 Peercoin to 0.001 Peercoin.</li>
<li>Peercoin has a fixed transaction fee that filters out the kind of spam transactions that have damaged chains like Bitcoin. A fixed fee also allows for predictable sending fees, which may become unpredictable on chains where fees can rapidly change, leaving transactions in limbo for several days. This allows for first come, first served transactions as well. Peercoin is able to scale without worrying about valuation effecting usability. In version 0.7, the transaction fee is being lowered from 0.01 Peercoin to 0.001 Peercoin.</li>
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<h5>How can the Peercoin network survive without miners providing PoW security, especially during times of low interest?</h5>
<li>Proof of work serves to distribute coins through as an inflationary mechanism. The Peercoin network is secured by coin age and proof of stake. With pure proof of work chains, holders have little ability to secure the chain with the high cost of mining equipment being a barrier to entry. Any Peercoin holder can protect their investment by allowing a transaction to mature and leaving the wallet open for minting keeps the network secure and has done so since Peercoin's inception.</li>
<li>Proof-of-work serves as an inflationary mechanism to distribute coins. The Peercoin network is secured by coin age and proof-of-stake. With pure proof-of-work chains, holders have little ability to secure the chain with the high cost of mining equipment acing as a barrier to entry. Any Peercoin holder can protect their investment by allowing a transaction to mature and leaving their wallet open. Proof-of-stake minting has kept the network secure since Peercoin's inception.</li>
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<h5>I just moved Peercoins to my wallet and it says I have a zero percent chance of minting in the next 30 days. Why is that?</h5>
<h5>I just moved PPC to my wallet and it says I have a zero percent chance of minting in the next 30 days. Why is that?</h5>
<li>Peercoin transactions must mature 30 days or roughly 4320 blocks before they can become eligible for minting. This number is updated roughly every six hours. Once the 30 day period passes, your coins will become eligible and the minting probability should adjust accordingly.</li>
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<h5>How many confirmations are required on the Peercoin network for a transaction?</h5>
<li>Six confirmations for a transaction to be verified. Each block takes about 10 minutes.</li>
<li>Six confirmations are required for a transaction to be verified. Each block takes about 10 minutes.</li>
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<h5>I just minted some coins but it says they are unavailable at the moment. Why is that?</h5>
<li>Once a transaction mints, it takes 520 confirmations before these become unlocked. This is done to prevent spoofed minting. Each block on the Peercoin network takes about 10 minutes and so it takes 5,200 minutes or around 3.6 days for the minted coins to become available.</li>
<li>Once a transaction mints, it takes 520 confirmations before these coins become unlocked. This is done to prevent spoofed minting. Each block on the Peercoin network takes about 10 minutes, so it takes 5,200 minutes or around 3.6 days for the minted coins to become available.</li>
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