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Title: [Idea] smoother block reward decrease Post by: ZirconiumX on October 11, 2013, 01:54:23 PM Block rewards halving is a very uneven way of increasing rarity of coins.
What if the block reward went down more smoothly, like using a percentage decrease factor? Matthew:out Title: Re: [Idea] smoother block reward decrease Post by: Kruncha on October 11, 2013, 02:09:09 PM Like WDC?
It goes down 1% a week, making it very gradual. K. Title: Re: [Idea] smoother block reward decrease Post by: jaakkop on October 11, 2013, 02:22:15 PM Like Primecoin? :)
Quote from: http://bitcoinmagazine.com/5635/primecoin-the-cryptocurrency-whose-mining-is-actually-useful/ Self-adjusting block reward – Bitcoin is known for its controlled currency supply algorithm, which guarantees that only 21 million bitcoins will ever be generated, as well as specifying the rate at which these bitcoins will come out. Primecoin follows a different path. The number of primecoins (XPM) released per block is always equal to 999 divided by the square of the difficulty, a formula which should converge to some maximum if the difficulty increases linearly. Given that Moore’s Law states that computing power increases exponentially, and the effort it takes to find a prime chain is exponential in its length, that is quite likely to hold true. Title: Re: [Idea] smoother block reward decrease Post by: ZirconiumX on October 11, 2013, 02:26:03 PM It's good to see I'm not the only person who wants a smoother block reward.
If only it were more mainstream... Matthew:out Title: Re: [Idea] smoother block reward decrease Post by: Neo8 on October 11, 2013, 03:44:20 PM Like Primecoin? :) Quote from: http://bitcoinmagazine.com/5635/primecoin-the-cryptocurrency-whose-mining-is-actually-useful/ Self-adjusting block reward – Bitcoin is known for its controlled currency supply algorithm, which guarantees that only 21 million bitcoins will ever be generated, as well as specifying the rate at which these bitcoins will come out. Primecoin follows a different path. The number of primecoins (XPM) released per block is always equal to 999 divided by the square of the difficulty, a formula which should converge to some maximum if the difficulty increases linearly. Given that Moore’s Law states that computing power increases exponentially, and the effort it takes to find a prime chain is exponential in its length, that is quite likely to hold true. It's similiar to PPcoin and Neocoin (Scarcity enforced by Moore's Law, mint rate gradually drops as difficulty rises). |