Print Page - What are good resources for identifying POW schedules?

Title: What are good resources for identifying POW schedules?
Post by: BTHECREATOR on July 16, 2014, 11:06:57 PM

Hi all, I'm new here and relatively new to crypto--I hope I'm posting in the right category.

In my trading I notice that a key variable for timing a trade is a coin's orientation in it's POW schedule, particularly when it is it's nearing the end of POW and the beginning of POS. I don't know how to determine these things, though, apart from listening to people on Twitter who may remark on it.

What are some resources I can use to begin identifying these schedules myself? Thanks in advance for any suggestions.

Title: Re: What are good resources for identifying POW schedules?
Post by: laurapalmer on July 17, 2014, 03:38:58 AM

There might be a site that aggregates that kind of data, but I'd think you need to install the client for whichever coins your interested, or see if they have an online block explorer. Just look at what block the coin is on and what block it is supposed to switch to PoS, or whatever you're interested... reward halving, etc.

Title: Re: What are good resources for identifying POW schedules?
Post by: desticy on July 18, 2014, 03:00:29 AM

I have no idea but you can see this forum more.

Title: Re: What are good resources for identifying POW schedules?
Post by: majeis on July 18, 2014, 08:04:19 AM

Your resources will be your own reading comprehension and ability to do basic math.

Title: Re: What are good resources for identifying POW schedules?
Post by: den.faulkner1990 on July 18, 2014, 09:13:21 AM

Quote from: BTHECREATOR on July 16, 2014, 11:06:57 PM

is not CurrentDate+(block_switching_to_pos-current_block)*time_per_block ?

i think there are no resorces with such info but it's look pretty easy to calculate by yourself ;)

Title: How To Identify PoW Schedules
Post by: Willisius on July 18, 2014, 09:45:23 AM

Go to the coin's github repository. Go to the file src/main.cpp. In Litecoin's case, this page (https://github.com/litecoin-project/litecoin/blob/master-0.8/src/main.cpp). Then do a search for the two following expressions, one should match:

Code:

GetBlockValue

Code:

GetProofOfWorkValue

Find the above function, and it will have something like this, in Litecoin's case (this line (https://github.com/litecoin-project/litecoin/blob/master-0.8/src/main.cpp#L1085)):

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 50 * COIN;

    // Subsidy is cut in half every 840000 blocks, which will occur approximately every 4 years
    nSubsidy >>= (nHeight / 840000); // Litecoin: 840k blocks in ~4 years

    return nSubsidy + nFees;
}

This means that the subsidy (block reward) starts at 50 and is cut in half every 840,000 blocks. So in this case, I would find a block explorer for Litecoin and record the current block number. As of writing, LTC's current block number is 606,317.
Then divide the current block number by the figure in the source code, rounding down to an integer:

Code:

606317/840000 = 0

That means the block reward is (50 coins) / (2 ^ 0) = 50 coins!

Here's another example that I'm making up:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 1000 * COIN;

    // Don't expect to see these comments everywhere, some devs are lazy <---
    nSubsidy >>= (nHeight / 50000);

    return nSubsidy + nFees;
}

Let's say the current block number is 120,000. Divide it by the figure in the source code:

Code:

120000/50000 = 2

That means the block reward is (1,000 coins) / (2 ^ 2) = 250 coins!

Sometimes you'll see something like this:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    if (nHeight == 1)
    {
        return 1000000 * COIN;
    }
    int64 nSubsidy = 1000 * COIN;

    nSubsidy >>= (nHeight / 50000);

    return nSubsidy + nFees;
}

This is a 1,000,000 coin premine. I encourage you to always check for yourself to see if there is a premine. Humans can lie, but the source code can't. I've seen more than one occasion where the premine was just totally unmentioned! This way, you don't have to hope that you get word of it, you can just see for yourself. Anyway, this premine business is drifting away from your question, so I'll stop.

Title: Re: How To Identify PoW Schedules
Post by: laurapalmer on July 18, 2014, 02:24:41 PM

Quote from: Willisius on July 18, 2014, 09:45:23 AM

Go to the coin's github repository. Go to the file src/main.cpp. In Litecoin's case, this page (https://github.com/litecoin-project/litecoin/blob/master-0.8/src/main.cpp).

Great answer. Use the source...

When I have a little extra time, I'll try to find the equivalent lines of code in some coins that don't share the Bitcoin code base.

Title: Re: What are good resources for identifying POW schedules?
Post by: cryptozim on July 18, 2014, 07:19:33 PM

Quote from: majeis on July 18, 2014, 08:04:19 AM

Your resources will be your own reading comprehension and ability to do basic math.

I lol'd.

Title: Re: What are good resources for identifying POW schedules?
Post by: ChuckOne on July 18, 2014, 07:22:39 PM

Quote from: BTHECREATOR on July 16, 2014, 11:06:57 PM

Well, actually that is basic math. :)

On the other hand side as you are new to crypto, I can tell you that PoW -> PoS is not the only scheme. There are also PoW only schemes (as Bitcoin) and PoS only schemes (as Nxt).

Title: Re: What are good resources for identifying POW schedules?
Post by: BTHECREATOR on August 24, 2014, 11:25:18 PM

Hey guys, thanks so much for your feedback. This has been really helpful.

Sorry I'm just chiming in now, but I had forgotten to turn on reply notifications for this thread, and I didn't know anyone had responded.

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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: BTHECREATOR on July 16, 2014, 11:06:57 PM