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Board Marketplace (Altcoins)
Re: [ANN] Artemine Genesis Addresses Trading Thread
by
cryptomafiajp
on 27/10/2017, 08:18:13 UTC
Quick question: can I withdraw the ARTE in my wallet without it affecting my genesis address? This is not entirely clear to me.
According to the official announcement, tokens only withdraw is possible too.
https://www.artemine.org/tutorials#view-transfer
However, if you sell a Genesis Address, all ARTE tokens will be transferred together.
But will it impact how much the contract will mine in the future?
The reward at self-mining against ARTE holding can be known from the following contents described in white paper 2-3.
Quote
2-3​ ​Genesis​ ​Addresses​ ​Self-Mining​ ​Rate
The mining rate of Artemine’s Genesis Addresses is 0.000001% of the total amount of
ARTE attributed to it (in the contribution phase) per ethereum block.
The coins will be mined for 100,000,000 Ethereum blocks.
If we take into account the current average block time of ethereum of approximately 20
seconds we can conclude that the mining duration will be approximately 60 years (20 x
100,000,000 = 2000000000 seconds = ~63 years), however the block time of ethereum
cannot be predicted with certainty, the whole Artemine’s self-mining duration will depend
on the ethereum block creation time over time.
As an example if a user gets a Genesis Address with 1000 ARTE the number of coins
generated per ethereum block will be 0.00001 ARTE, taking into account that there are
approximately 4320 blocks per day as per the current average block time of 20 seconds,
the total amount of coins generated per day would be 0.00001 x 4320 = 0.0432 ARTE.
Also, if you want to see the current reward for each block of yourself,
you can check using the "GenesisRewardPerBlock" function on the following page.
https://etherscan.io/token/0x5f6e7fb7fe92ea7822472bb0e8f1be60d6a4ea50#readContract