Hi all
Quick update from Dan:
the new blocknet-qt wallet will be available for tomorrow evening (provided no last minute issues) for preview/testing
Updated specs
- 1minute block time
- 1 block reward per block (thus decreasing interest over time)
- split 70%/30%/ +10% (service nodes get 70%, stakers get 30%; the 10% is not a stake reward, but is via the self-funding model)
- 5k required to run a service node
- for staking, the wallet will need to be open as often as possible, since it is not based on coin age.
- migration/installation: it uses a new roaming folder, so simply install and copy your wallet.dat to the new folder.*
* tomorrow is the launch on testnet, so don't copy your wallet.dat over just yet. Wait for the mainnet launch mid-month.
Back of napkin calculation, do I have this right?
6 million BLOCKs are burned.
The top holders with enough to run a service node have roughly 3.6 million according to
https://chainz.cryptoid.info/block/#!rich
The rest have 470k
Assuming that everyone who can run a service node is, and anyone who can stake is doing so.
If you have 5k and run a service node, you get a reward of 0.7 * 5k / 3.6 million = 0.00097222222
If you have 5k and stake through your wallet, you get a reward of 0.3 * 5k / 470k = 0.00319148936
Or do service nodes get both the service and staking reward?