FriendshipCoin Mining
This is a tricky thing because FriendshipCoin is a PoS + Masternode ONLY coin. There are no PoW rewards. How then will we give people the ability to mine FSC you ask?
With Stratum Proxy Magic!
Here in the next week or two we'll be launching a service that proxies mining traffic from your miners on a variety of algorithms to zpool.ca's mining pool. This will allow anyone to mine their favorite algorithm and get paid out in FSC.
The way it will work is that you'll use your FSC payout address as your username and we'll keep track of all of your accepted shares from zPool. We'll proxy your traffic with a BTC payout address as the username so that we can pool up everyone's mining power on each algorithm so we actually get paid regularly. Once per day we'll take whatever we've been paid out and use it to buy FSC from the supported exchanges:
After the FSC is received, we'll distribute it according to your percentage of accepted shares from the previous time period covering this payment. Ideally this will be every day but it will depend largely on how many miners we get. To help keep payments frequent, we'll start with a few algorithms:
- sha256 for those Bitcoin Miners
- scrypt since there are tons of scrypt asics out there
- lyra2v2 because it's low power
- yescryptR16 fot the CPU miners out there
With this assortment of algorithms we should be able to prove this out and get people earning FSC with their miners. Once we get through the beta stage we'll open up some more algorithms and hopefully attract plenty more miners.
We have lots more on our roadmap and plenty of new things being built. Come join us on Discord for more information or just to say hi. The more the merrier at FriendshipCoin!