This article was first published on Stories by Qtum on Medium
Here at Qtum, we’re constantly seeking to improve upon our existing infrastructure to provide a better experience for our users. In October 2018, we created the Qtum Improvement Proposal (QIP) format with the sole intention of putting the voices of our community to action and, since then, we have been overjoyed by the positive response that we’ve received in return. Your feedback has not only helped us improve our existing network, but it has also helped us to think critically about how we can strengthen the Qtum project in the future. Like all great things, however, our work is never done. Below, we’d like to provide an overview of the three new QIPs (16, 17, 18) that we believe will positively impact the Qtum ecosystem for years to come.
Please be aware that all of these currently stand as proposals and your feedback helps us and the community bring the technology together to make them happen if valued. So, take a look below, and feel free to comment on the pros and cons of each.
QIP #16: Coin-locking Incentives
A decent portion of stakers in the community, particularly exchange hot wallets and centralized wallets, function by allowing these entities to “stake” coins that don’t technically belong to them. Due to the time-sensitive nature of how many of these platforms function, users are often disincentivized from staking, or locking, their own currency for prolonged periods of time. Processes like these are not necessarily harmful to the overall functionality of a given platform, however, they do make incentives for personal staking very small, requiring users to “relock” their coins on a regular basis.
Through this QIP, we aim to create long-term staking setup that offers a variety of incentives to promote small-scale staking. For example, the “lock benefit” could effectively multiply the wallet’s staking weight ...
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Stories by Qtum on Medium