I'd Love To Get Some Grams. Cryptocurrency Grams. How Will Gram Mining Work?

a year ago

Gram mining, that is creating new blocks and processing transactions, is going to be a job for the "new kind of miners" — validators.

Validators will be chosen based on their Gram amount in the wallet. Several thousand network users will be picked for this role.

So how do you become a validator?

- A high-performance server with the fast Internet speed (you do understand that servers will support an extensive multi-blockchain system, you wouldn't just connect to it with you phone via Hotspot). 

- Accumulating enough Gram coins will guarantee a high-quality network support (or at least it will compensate for damage in case of validator signing an invalid block).

Unanswered questions:

If all mining will be supported by several thousand servers (even if it's a Proof-of-Stake, not Proof-of-Work), how powerful should they be? 

With thousands of transactions per second, what will be the transaction fee and what's it in for the miners?

The answers will appear come the launch of TON — by the beginning of 2019.

Meanwhile, we'll carry on explaining the elements of the new Telegram-powered economic system. Stay frosty 😉