UTXO Mining

UTXO Mining

The concept of UTXO mining is a reward will be given to you if you provide a distinct unspent set of signed coins in biblepay from a supported cryptocurrency. This establishes proof that you hold a long position in that supported partner currency, therefore earning you a 'slot' in your portfolio tracker, and a chance to win the current block reward (9000 BBP as of Jan 2021).

The primary reason UTXO mining is believed to become popular is it appeals to millions of distinct cryptocurrency users who are seeking a staking return on their crypto holdings.

The block reward gives the UTXO miner the impetus to sign the coins and place them into BiblePays ecosystem.

The longer term benefit includes a slot in your personal portfolio manager.

Daily Portfolio Rewards

Modify the Leaderboard, to be a list of participants who hold long stake positions. Each participant CPK will contain the sum of the amounts staked, the distinct list of tickers, and the magnitude, which drives the daily reward.

UTXO Staking Mechanics

A reward weight of .50 is given to BBP, .50 to DASH, .50 to BTC. A UTXO transaction consists of BBP + DASH or BBP + BTC, or BBP alone. BBP alone yields half.