Protocol has grown immensely and there’s been 9,604 SLP tokens created since the infrastructure launched. Just recently news.Bitcoin.com reported on mistcoin, the mineable SLP token that can be mined with a CPU. Now software developer Chris Troutner has invoked tokens called PSF, which are the first SLP tokens that leverage UTXO coin-age for staking on Bitcoin Cash.
foster the growth of open-source software and growing adoption of Bitcoin Cash across the globe.”
This week software developer
discussed the PSF project with our newsdesk as the project has invoked the first SLP token that can be staked based on UTXO coin-age. People who are interested in reading about the PSF staking process can check out the group’
The biggest hurdle to understanding it, is understanding UTXOs,” Troutner emphasized. “As most crypto proponents are aware that UTXOs are the thing that is ‘spent.’ UTXOs are consumed as inputs to a transaction, and new UTXOs are generated as the output of a transaction. Every time a UTXO is generated, it contains a block height.” Troutner added
staking is basically not moving the PSF tokens or spending them for a period of time. Simply moving PSF tokens from one wallet to another will interfere with the coin-age, so Troutner recommends storing with a paper wallet.
“It’s really easy for newbies to destroy their coin-age, by simply moving the tokens between wallets, or a wallet might do it accidentally in the background. That’s why I recommend people stake their token by sending them to a paper wallet,” the software engineer stated.
730,883 PSF tokens created and 160,048 PSF tokens burned which shows a circulating supply of 570,834 today. We talked about the exchange rate for PSF as the token does have value according to the website, but PSF is currently not listed on an exchange.
the time of publication, a single PSF is worth $0.439 USD per token or 0.0014475 BCHper token. Using today’s BCHexchange rate, people can get more than 690 PSF for a single BCHTroutner explained to our newsdesk how the
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