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Boscoin Freezing Reward Calculator
One Boscoin unit equals 10,000 boscoin. You need atleast 10,000 boscoins to get freezing rewards
Few assumptions has been made while calculating node rewards. Actual rewards can be less or more based on boscoin mainnet network stats.
Frequently asked questions
Coin Freezing is a Proof of Stake concept where if a user locks-in their coins and in
return they will receive interest based on the number of coins frozen and the length of
time the coins are stored. This interest is called the Freezing Reward. Users can
freeze coins in units, which are sets of 10,000 BOS. Frozen coins are used as
collateral in case of attempted forgery of the blockchain. If a node attempts to forge
the blockchain, a portion of the frozen coins are confiscated and sent to the
Commons Budget. Additionally the system requires two weeks prior notice to
unfreeze coins, as a mechanism to promote price stability.
Freezing Reward: Congress Members receive the same amount of interest as
normal wallet users when coins are frozen. Starting from the first year, a total of 5,400
BOS is distributed equally to each unit of frozen BOScoins. This freezing reward is
issued every 720 blocks(roughly one hour). The total amount that is distributed
decreases by 5.00% year on year over 59 years.