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Title: Electroneum max ETN issuance question Post by: andyosh on May 31, 2018, 03:21:37 PM Hi,
So, sorry if this is the wrong place to ask this question. I'm trying to get my head around this and either my calculations are completely off or something isn't right (probably the first one).. Anyway, concerning Electroneum. Apparently the coin is limited at 21 billion ETN. I've tried to find the average block reward (how many ETN the miner gets for finding block) which is approx 6000 ETN according to a few sites, for example https://www.cryptocoinsinfo.com/cryptonight-coins/electroneum/electroneum-etn/ (https://www.cryptocoinsinfo.com/cryptonight-coins/electroneum/electroneum-etn/). With the network upgrade, a block is found every 2 minutes. So each hour the reward is 180 000 ETN. In a day this makes it possible to mine 4 320 000 ETN. With the limit at 21 billion this would take around 13 years to mine all the ETN. This is a lot less than some other cryptocurrencies. I'm fairly new to this but I would like to know if that sounds right. Thanks in advance for your time and patience. Andy |