I just wanted to provide you with some important news about max supply and also a recap of what we have achieved over the past week or two.
Ok, so max supply for Mirai is wrong. Very wrong. The good news is that the error is in your favour.
Having recently come on board as part of the team, I have been verifying information on the coin specs and auditing the wallet code. There were a few errors in the specs which I corrected early on but combined with needing to provide the max and circulating supply to third parties, I wanted to be sure that we were providing correct information.
Now many people don’t realize that max supply is not a value set in the coin source code (except ethereum based tokens) and possibly some other exceptions.
Max supply is the point where block rewards have dropped so low through reward halving that they are virtually non-existent.
For Mirai, this point is just below 16 million coins, which is much less than the 600 million originally printed in the specs.
So how did we get it so wrong? An ex-team member (who was let go long before this was discovered) added the wrong info to specs. There are values in the source code that can be easily mistaken for max supply, such as Max_Money, Camount etc, so it’s possible one of these were used.
To calculate correctly, I used an excel spreadsheet to add blockcount, block times and block rewards. I also verified this by making a small ruby app to simulate the blockchain rewards over time.
They are not 100% accurate for block time which is dynamic, but the margin for error in the final totals is a fraction of a percent.
I’ve added screenshots of the two calculation methods below.
Here is a quick recap of what we have achieved over the past few weeks.
Mirai website updated and new install guides added.
Mirai website mirrored to
https://www.mirai.rocks/Mirai website updates continued with a rewrite of the about section and roadmap section. This is a temporary measure with much more detailed information to be provided in the coming weeks.
Mirai added to
https://www.masternodes.online/Bitcointalk thread improved
Work on fixing explorer and 2nd explorer linked
Mirai listed on Cryptopia!
https://www.cryptopia.co.nz/Exchange/?market=MRI_BTCMirai added to Delta Portfolio app
https://getdelta.io/Mirai added to Cheddur
https://www.cheddur.com/coins/miraiMirai added to Coinlib
https://coinlib.io/coin/MRI/Mirai (prices, charts, research tools)
Mirai added to LiveCoinWatch
https://www.livecoinwatch.com/price/Mirai-MRIMirai added to Mintnodes
https://www.mintnodes.com/clusternodes Note: Do your own research. Giving control of your coins to any third party always adds an element of risk. It is up to you to assess that risk. We make no recommendations.
Mirai added to CoinMarketCal cryptocurrency calculator
https://coinmarkcal.com/Mirai added to CoinMarketCap (prices, charts, research tools)
https://coinmarketcap.com/currencies/mirai/Mirai block rewards reduce on time, successfully.
Mirai masternode total hits 450 providing a fast and stable foundation for Mirai cryptocurrency and future developments.
As you can see, we have been very busy and we are not slowing down any time soon.
Also I will add that
http://gincoin.io/ has added Mirai to their list of masternode coins. GinCoin offers a simple alternative to setting up your own vps and masternode. I have fully investigated the service and can confirm that you remain in full control of your coins and there is no risk in using the platform. It also extremely easy to use for anyone that isn't technically minded.
So to be clear:
Mirai max supply is 16 million (this is very good)
Mirai total/current supply is 2.25million
Mira circulating supply is 1.05million (current supply minus premine burn)
There are very few cryptocurrencies with specs that are as good as this for future value.
Nothing has changed. There is NO fork and NO update to chain or wallet. We have just corrected some incorrect information
