Future Minting Access Period (FMAP)
The bitcoinR network was initially built upon a Proof of Work (PoW) consensus protocol. We initially committed to the PoW consensus protocol to strengthen our node network and the underlying bitcoinR blockchain; however, it is clear to the bitcoinR team that PoW cannot continue in perpituity; as such, we believe the design of our consensus protocol requires evolution to Proof of Stake (PoS).
During our mining periods, miners will receive a block reward that is paid in the form of the bitcoinR currency, XBR. Once bitcoinR moves to a Proof of Stake (PoS) consensus model our minters will be rewarded in the form of a transaction fee that they earn for validating a transaction block on the bitcoinR blockchain.
The bitcoinR network will move to the Proof of Stake (PoS) consensus model following the Proof of Work (PoW) mining periods that will begin in Q1'2019 and is projected to end in 2022. The PoW mining period will conclude upon the successful mining of approximately 21,000,000 XBR.