Quote from: MalReynolds on March 02, 2016, 04:37:19 PM

Quote from: LiskHQ on March 02, 2016, 04:27:19 PM

Quote from: bitseedmike on March 02, 2016, 04:03:41 PM

(Note: looks like whitepaper needs to be updated, "0.1 LISK of amount sent for a spend transaction" should be "0.1% LISK of amount sent for a spend transaction".

We changed it to a constant 0.1 LISK. There was always the problem to calculate the fee, now it's very easy.

At Crypti, the "percentage fee" was always intended to be a way to compensate the 101 Active Delegates for their out-of-pocket server costs. In some of my really old posts I went through the math in excruciating detail to show that a percentage fee for Crypti would never come close to covering server costs and I argued for a fixed fee or even no fee.

Now here we are at Lisk, with the percentage fee gone like I promoted, replaced by a minimal fixed fee per transaction like I also promoted - and a new 5 Lisk paid per block to a forging delegate when his turn comes around every 101 blocks. So...the Lisk forging block reward at 5 Lisk is 50 times the Lisk transaction fee at 0.1 Lisk - and it's conjured out of thin air as new inflationary coin!

Crypti tried percentage fees on a non-inflationary coin, Lisk is gonna try inflationary block rewards. Gotta pay the piper somehow, I guess...

Don't ever say that Lisk is nothing but a perfect clone of Crypti. Look under the hood, there's lots of differences between Crypti and Lisk.

Which was the main reason for the fork.

One question about this quote. First of all, since the fee per transaction is 0.1 LISK, what happens with transactions of a lower amount?

"During the ICO we will distribute 100,000,000 LISK to ICO participants, the core team, third parties and active community members. Once the network is established with 101 delegates there will be an inflation of 5 newly created LISK with every block, these are the Forging Rewards. Every 3,000,000 blocks (~1 year) this reward is reduced by 1 LISK, ending at 1 LISK per block where it stays like that forever."

This means a 15% inflation rate the first year, but I was wondering how it has been estimated that 3,000,000 blocks will be created in around 1 year and not more?