Tesla Coin will be only minted by Proof-Of-Stake technology & Multipools.
In approximate 56 hours since I am writing the article at block 465,000Tesla Coin it’s going full Proof-Of-Stakeand it will remain the only way to really produce extra coinage into Tesla eco-system ,the rest of Tesla Coin’s could be procured by mining on their official Multipool http://teslacoinpool.com/ or exchanges like Cryptsy & Mintpal .
Eliminating Proof-of-Work from Tesla Coin equation will bring more market scarcity and also less spending securing Tesla Coin infrastructure due to Proof-of-Stake nature minting costs will go at minimum and will relay only on Tesla Coin “stake” holders . They will secure the network and be rewarded with 12% yearly in new minted Tesla Coins.
How Proof-Of-Stake works ? Like really simple explained ?
Imagine that you are keeping you money in the bank and you get interest for them , correct ? Here is the same you cannot withdrawal the money 30 days if you want to get stake else you can withdrawal anytime you want no questions asked . But if you want to get that 1% Monthly that most of Banks steal from you by high management fee’s . Here it won’t happen , you just have to download the Tesla Coin wallet and keep your Tesla Coins inside for 30 days until they mature enough to get an automated stake reward . Do not keep your Tesla Coinsin exchanges only on your Desktop downloaded Tesla Coin wallet or else it won’t stake ! It’s that simple ! There is a complicated explanation too but we will do that in other day .
Mandatory Update !
Keep your eyes on Tesla Coin Official Website TeslaCoins.com for the new wallet , it’s a Mandatory Update until block 65.000 or else you risk to lose all your coins ! We will also update the article when it will be released so stay around . This update it’s made in order for the POS system to work properly and without any code problems .
New Wallet : http://www.teslacoins.com/wallet/Teslacoin-qt_v3.zip
Official Website : TeslaCoins.com
More Services & Merchants Exclusive for Tesla Coin
We heard rumors of a Hosting Service launching in 1 week that it will accept solely Tesla Coin for it’s servers and with time more crypto-currencies we will let you know when it launches in our Merchant category . Also they are some new active merchants like NS6.COMwith health products that can be bought with Tesla Coin with AltAccept Gatewaysystem in use ! They also prepare more surprise for Tesla Coin supporters and pay-off their waiting time . Tesla Coin Development Team prove again that they are not another P’n’D crypto and they have deployed services and new developments in short time .
So grab some Tesla Coin and sit tight .