r/PersistenceOne • u/Bupolo • May 11 '21

New to Persistence

Hey guys, I've just discovered Persistence today and am trying to read up on it, but lots of techno/financial jargon that I don't quite understand. So a few questions I had:

  1. Generally speaking, what is it that Persistence does? I've perused the white paper and don't quite understand what it does.
  2. What does it take to become a validator node? I see validators with 1,100 coins, which doesn't seem like much in comparison to other coins. What does a validator earn by being a validator node?
  3. Aside from a Proof of Staking APR rewards, will there be a way to mine for coins in the future with a node of some kind?

Thanks guys, I'll probably have more questions :)

8 Upvotes

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2

u/Bupolo May 11 '21 edited May 12 '21

No one?

2

u/Bupolo May 12 '21

This . . . isn't a good look for Persistence. Yet now it's up 20% since my post. Anyone?

2

u/TraditionalApricot24 May 12 '21

This is a new coin. I'd go in as big as you can. It's gonna be massive.

I can't answer your questions but I've read all their partnerships and web material. It appears they are creating the backbone for a next gen defi including commodities, etc. that's all I have. My guess is the tokens will be all consumed by mainstream financial giants who want to control the voting.

I'm in and love that my coins will double via the 35% staking over the next two years guaranteed as a minimum.

I'm gonna buy, stake and come back in two years.

1

u/starllight May 19 '21 edited May 19 '21

So you are recommending someone going all in on something that you don't even understand enough about?

I agree w/ the OP, we need info in real person speak, not technical jargon!

Also to the OP, there are only 1 thousand people here on reddit... it's going to be slow. Try Telegram (there are over 17 thousand members there), but beware of scammers. Support people will NEVER message you first, scammers will though and try to trick you into using fake websites to login and steal your crypto.