OK • Multi chain energy friendly open source electronic cash

This works fine. The OK coins will appear next time you start your Okcash wallet application. The OK coins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the OK network. If you are sent Okcash when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the OK coins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend your Okcash.

Long synchronization time is only required with full node clients like OK Core. Technically speaking, synchronizing is the process of downloading and verifying all previous Okcash transactions on the OK network. For some Okcash clients to calculate the spendable balance of your Okcash wallet and make new transactions, it needs to be aware of all previous transactions. This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the OK block chain. For Okcash to remain secure, enough people should keep using Okcash full node clients because they perform the task of validating and relaying transactions.

Anybody can become an Okcash staker by running the Okcash wallet software with some OK coins in the wallet. The OK wallet software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Okcash stakers perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created OK coins issued into existence according to a fixed formula.
Okcash stakers are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the OK network because all Okcash nodes would reject any block that contains invalid data as per the rules of the Okcash protocol. Consequently, the OK network remains secure even if not all Okcash stakers can be trusted.

Staking creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the OK block chain. This protects the neutrality of the OK network by preventing any individual from gaining the power to block certain transactions. This also prevents any individual from replacing parts of the OK block chain to roll back their own spends, which could be used to defraud other users. Staking makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.

You only need to have OK coins and stake them in the Okcash wallet or in a staking pool.

The rules of the protocol and the cryptography used for Okcash are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Okcash software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Okcash is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Okcash itself being hacked, nor imply inherent flaws in Okcash; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, multi-signature transactions and hardware wallets.

Yes, most systems relying on cryptography in general are, including Bitcoin and traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Okcash, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all OK users.

Okcash is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Okcash.

Okcash is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This allows innovative dispute mediation services to be developed in the future. Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. As opposed to cash and other payment methods, Okcash always leaves a public proof that a transaction did take place, which can potentially be used in a recourse against businesses with fraudulent practices.