Distributed Ledger and P2P Network
The Scrypta blockchain consists of two key elements: a distributed database and a decentralized network.
These two entities compose the distributed ledger on which information and values are recorded. Each entity taking part of the Scrypta network has an identical copy of the ledger. Any ledger modification made is immediately reflected in all available copies.
Every Blockchain member node consists of each Scrypta network connected users computer.
Transactions are the exchanged values that must be verified, approved and archived.
Scrypta regulating algorithm creates a new block every 60 seconds. Blocks contains transaction sets, grouped to form the different links in the chain.
It is the ledger in which all transactions are written orderly, sequentially and unchangeably with the utmost transparency.
The Scrypta algorithm settles the generation of new Lyra at each block. New Lyra coins are assigned as rewards to the network members through a Masternode/PoS consensus protocol.
Masternodes are 24/7 online servers, acting as Scrypta blockchain validators. Masternodes receive rewards in LYRA to encourage their operativity. Rewards can be intended as a calculable and predictable passive income. Operating as a masternode validator requires the ownership of 15000 LYRA.
Thanks to the Proof of Stake protocol, each creator of a new block is chosen deterministically according to his 'wealth'. The Scrypta Consensus algorithm selects a validator every 60 seconds and assigns the due rewards ('stake') to him, allowing him to create a single new block. In other words it means that the digital wallets of the network mint new coins generating a passive income.
In order to allocate prizes efficiently, Scrypta adopts a system that dynamically changes the ratio among masternode rewards and staking rewards. The See-Saw mechanism allows all Lyra owners to be rewarded while holding value and performing the function of 'node', thus obtaining a fairer and less centralized system.
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MINIMUM STAKE AGE
Scrypta Block Explorer
BlockExplorer is the tool to explore blockchain blocks and their extraction, to obtain information on addresses and transactions and to know the status of Scrypta Blockchain.