(this is where it gets tricky/complicated)
Over block 100 with difficulty over 75 or block over 1000:
Reward: difficulty x 0.4356
1-1000 with difficulty below 75
Reward: difficulty x 0.4426
1001-5999
Reward: difficulty x 0.4726
Over 6000
If (2222222.0 / (pow((difficulty +2600.0)/9.0,2.0))) is over 25 then
Reward: difficulty x 0.4356
if below 25
Reward: 1
On top of this following Global applies to all:
If difficulty is over 100 AND below 1000 blocks. (Bonus for new early miners)
Reward: 100
If difficulty is over 100 AND above 1000 blocks.
Reward: 50 (Bonus drops to 50 for all blocks over 1000)
If difficulty is very low below 0.5
Reward: 1 or 0 (randomly)
In a nut shell, reward is based on # of miners/network hash rate, more hash rate higher reward & vice versa.
Update (15.1.4):
* 10% inflation added every 17500 blocks.
Are block rewards calculating properly? Block 9846, for example, has a difficulty of 138.70529292 and a block reward of 44.325 VC, but 138.70529292 * 0.4356 =
60.4200 VC. I also don't see the bonus 50 VC for difficulty over 100 and block over 1000... Total block reward for block 9846 should have been
110.4200 VC, and similar for earlier blocks where difficulty was high enough.