Author Topic: Do not understand how to mine keyhotee ID  (Read 1908 times)

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Offline Stan

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Hi, I just read about that formal keyhotee ID need to be "mined" when it's formally released. I just can't imagine the mining process, can someone explain it for me? Thanks in advance.

Not like mining a certain number of bitcoin, an ID needs to be selected and submitted to the system first. Does mining an ID mean I need to input my ID first and then wait for my wallet to mine a block so that it gets into the block chain? If so then the registration can be very slow when difficulty goes up. If not then any client can easily create a lot of requests to flood the system. I know I can be totally wrong, any help is appreciated.

Secondly, if keyhotee Id need to be mined on a block chain, will it honor PTS and AngelShares? How?

Thanks again.

Keyhotee has no native currency. It is not an unmanned company.  Names are free but we require a small proof of work to register the name in the global block chain.  This is an example of using pieces of bitcoin technology for other purposes than making crypto-equities or crypto-currencies.  In this case, a decentralized name registry.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline bytemaster

Hi, I just read about that formal keyhotee ID need to be "mined" when it's formally released. I just can't imagine the mining process, can someone explain it for me? Thanks in advance.

Not like mining a certain number of bitcoin, an ID needs to be selected and submitted to the system first. Does mining an ID mean I need to input my ID first and then wait for my wallet to mine a block so that it gets into the block chain? If so then the registration can be very slow when difficulty goes up. If not then any client can easily create a lot of requests to flood the system. I know I can be totally wrong, any help is appreciated.

Secondly, if keyhotee Id need to be mined on a block chain, will it honor PTS and AngelShares? How?

Thanks again.

Keyhotee ID is not a currency chain, so no way to honor PTS and AGS.
The time required to 'mine your name' will be several hours, difficulty will only go up if there are a over 1 billion names per year being registered.  Mining a name is different than mining a bitcoin block as 1000's of names can be mined every minute.
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline milkmeat

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Hi, I just read about that formal keyhotee ID need to be "mined" when it's formally released. I just can't imagine the mining process, can someone explain it for me? Thanks in advance.

Not like mining a certain number of bitcoin, an ID needs to be selected and submitted to the system first. Does mining an ID mean I need to input my ID first and then wait for my wallet to mine a block so that it gets into the block chain? If so then the registration can be very slow when difficulty goes up. If not then any client can easily create a lot of requests to flood the system. I know I can be totally wrong, any help is appreciated.

Secondly, if keyhotee Id need to be mined on a block chain, will it honor PTS and AngelShares? How?

Thanks again.