Quote from: JGCMiner on February 26, 2014, 03:29:40 PM

Quote from: eduffield on February 26, 2014, 03:16:40 PM

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:

https://github.com/evan82/darkcoin/commit/819ccd71cab84c3728d457b16d2679486f917394

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 13,140,000 per year (25 every 2.5 minutes) and eventually only release 2,628,000 per year (5 every 2.5 minutes).

Thanks for the input and support

Good on you. I think this is a really wise decision.
However, this means a hard fork right? From what block should we worry about updating our wallets?

It's a hard fork at block 210240. We'll release DarkSend before that happens which will also require an update to use, so no need to worry about updating just yet.