dear all, In the very first message to this list, I made a proposal for a block reward schedule, involving some exponential stepping.
In retrospect that seems overly complicated. The simplest possible schedule, namely a fixed constant block reward, probably works well enough. It's also what Ethereum uses, except they started out with about 7 years worth of rewards sold in an ICO, judging from https://etherscan.io/chart/ethersupplygrowth The only deviation I'd like to make from that is a slow start, where block rewards are initially zero. This allows everyone to setup and test their miners and pools in a relaxed manner, no matter their timezone, and offers a unique opportunity to advertise an already up-and-running coin where people can still get ready to mine the first reward. The question is how long the slow start should last. To cover all timezones, it should be at least one day. Preferably a few. A week is probably more than enough. I propose two options: 1) At a fixed block height, some 5 days from genesis. assuming block intervals are on target. 2) As soon as difficulty stabilizes. This could be defined as 2 consecutive 24-hour block ranges having summed difficulties not too far apart (e.g. 25% or 12.5%) In either case I propose that we try to overestimate the initial difficulty, so that the first block after genesis is more likely to take an hour instead of a second. regards, -John -- Mailing list: https://launchpad.net/~mimblewimble Post to : mimblewimble@lists.launchpad.net Unsubscribe : https://launchpad.net/~mimblewimble More help : https://help.launchpad.net/ListHelp
