Espers PoS Inflation is set at 25% yearly. This means that over the course of 1 year, the total supply of ESP will increase by around 25%. These minted coins are shared equally amongst ESP Wallets.

Proof-of-Stake

PoS happens by a miner putting up a stake, or locking up an amount of their coins, to verify a block of transactions. The cryptographic calculations in PoS are much simpler for computers to solve: you only need to prove you own a certain percentage of all coins available in a given currency. For example, if you somehow owned 5% of all Espers, you’d be able to mine 5% of all transactions across Espers Blockchain.

How do you Stake?

Download a Windows, Mac or Linux Wallet from our website. Fully sync your Wallet to the ESP Network by running your wallet and downloading the blockchain. (Download our snapshot to speed up the process.) Buy some ESP from the Exchanges. Withdraw ESP from the Exchanges to your Wallet. Leave the coins in the wallet for 2 Hours. After 2 Hours the coins become eligible for Staking.

The wallet must be unlocked for it to allow Staking. (Found under Settings in the main Tool bar. At Default ESP Wallet is Unencrypted).

Weight in PoS

The Weight of the Network is a figure given to the All the coins that are actively Staking on the entire Espers Blockchain. The Coins in your Wallet that are available for Staking also has a Weight. As example if the Weight of the Network is 10000 and the Weight of your Coins is 3000 then you have a good chance of Minting some new coins. However if the Weight of your Coins is just 1 then the chance of you Minting some new coins are smaller. The Weight of the Coin is simply based on Coin Age. As a coin gets older as does the weight and your chance of Minting coins increases.

Receiving rewards

It is true that to mine any coins your wallet must be open. If your wallet is closed it cannot be part of the lottery. However the PoS rewards do NOT take into account the length of time a wallet is open. If you open your wallet for a few hours once a month you will receive roughly the same amount of coins as someone who is staking 24/7. The 24/7 Wallet will receive many more smaller amounts and the wallet open infrequently will receive less but larger amounts. The total will roughly be the same. The issue with doing this is that when a wallet is not open for a long period of time, then is opened again, the amount of potential Staking weight created by that wallet will be very high while the rewards catch up to meet the 365 day inflation calculation. The ideal situation is to leave the wallet open 24/7 so it provides a steady amount of PoS mining power on the network and acts as a node for gaining consensus.

Maturity

Any new coins and the coins used to mint them are NOT eligible for Staking again until the coins have received 90 confirmations.

Calculating

The inflation rate for ESP is set at 25% Annually which is 1 Year. The Reward is simply calculated as 25% of 1,000,000. Over the course of the year you can expect to create 1000000 * (25/100) = 250,000. So if you start the year with 1,000,000 ESP at the end of 1 year you can expect to have around 1,250,000 ESP.