Re: [ANN][DRK] DarkCoin | DarkSend (exciting new feature) | KGW | No Premine
by
eduffield
on 26/02/2014, 15:16:40 UTC
There has been some debate lately about the reward structure vs the early adopter advantage. To be clear, Darkcoin was pre-announced so all of the miners shared in the early mining. There were some issues with the block reward in the beginning, but it was still fair. We dont have a huge percentage of the coins in existence like some users have purposed. In fact, we gave away nearly 80,000 coins in the first week.
Originally we thought scarce was good, but the halving was added to the code later and was an obvious mistake, it doesnt work well with the formulas were using to implement the mining reward structure.
Ive been doing the math this morning and Darkcoin doesnt need a halving structure at all. So Im removing it:
The formula 2222222/(((Difficulty+2600)/9)^2) is actually well defined to handle lowering the reward steadily over a long period of time. It caps out about 5000 difficulty, if this isnt high enough or slow enough we can revisit this later.
This change will put us way closer to the 84,000,000 coin maximum that we originally wanted. The maximum rewards per year will be 5.2M per year (25 every 2.5 minutes) and eventually only release 1.0M per year (5 every 2.5 minutes).