How do I contribute to the network?
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Hi,
I am aware that the peer to peer network is the base for FTC. Found out that there are servers that process transactions. Can some one please throw some light on details. How FTC works? Any servers involved? If yes, what do that do and can I set up my personal computer/laptop as one?
I am involved in mining BTC at the time - actually working in pool. So, still a newbie. But, I’d like to know more. Can some one guide me on how can get things going?
Thanks.
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It’s very simple and it is exactly the same as for Bitcoin and most -if not all- other coins.
- The basis of the network are the miners.
- By mining, they generate the blocks, that contain all transactions.
- Miners connect to other miners and build the p2p network this way.
- The intensive in mining is, that each new generated (found) block has a given number of coins attached to it,
that will be owned by the miner finding that block. Currently it’s 200 FTC - As it takes a long time to find a block when doing solo mining, miners build pools to accumulate their computing
power to find more blocks per day/hour - when doing pool mining, every miner, that participated in the calculations to find a block get a percentage of
the coins contained in the found block. - There are several calculation schemes, most common are PPLNS (pay per last number of shares) and PPS (pay per share)
you may google PPLNS and PPS for details
If you want to participate you have to:
- download a Feathercoin wallet (see links on feathercoin.com)
- download a mining program most common programs are guiminer, cfminer and bfgminer.
- install/setup/run your wallet
- install/setup/run your mining program
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[quote name=“Wellenreiter” post=“46107” timestamp=“1387449914”]
It’s very simple and it is exactly the same as for Bitcoin and most -if not all- other coins.- The basis of the network are the miners.
- By mining, they generate the blocks, that contain all transactions.
- Miners connect to other miners and build the p2p network this way.
- The intensive in mining is, that each new generated (found) block has a given number of coins attached to it,
that will be owned by the miner finding that block. Currently it’s 200 FTC - As it takes a long time to find a block when doing solo mining, miners build pools to accumulate their computing
power to find more blocks per day/hour - when doing pool mining, every miner, that participated in the calculations to find a block get a percentage of
the coins contained in the found block. - There are several calculation schemes, most common are PPLNS (pay per last number of shares) and PPS (pay per share)
you may google PPLNS and PPS for details
If you want to participate you have to:
- download a Feathercoin wallet (see links on feathercoin.com)
- download a mining program most common programs are guiminer, cfminer and bfgminer.
- install/setup/run your wallet
- install/setup/run your mining program
[/quote]
+1 rep
