VCIP01 fork on a new code-base ported from latest Bitcoin v0.17 . The new features of our fist major update, code-named VCIP01 (Veles Core Improvement Proposal), which was already activated at block 50k :
- dynamic block rewards increase up to 100x depeding on the algo
- 10x maximum block reward increase combined with shorter initial halving periods, aimed to release more VLS to circulation to help liquidity and to motivate miners, while still
ensuring the same maximum supply and the same inflation curve later on.
- multi-algo rewards will be lot more equal among the different algorithms, the calculations are base-lined on average market price of each algo's hasrate per hour
improved dynamic reward system with automatic block reward re-adjustments (within the range of maximum and minimum block reward limits) after each halving period, based on
total amount of VLS mined during the halving period
- as a first coin * we have introduced
dynamic non-linear halving period - the halving interval will double each time another halving occurs, creating smoother supply curve. Each
halving might by automatically delayed by another length of halving interval if not enough VLS has been mined since the last halving (we have implemented this measure to
mitigate some disadvantages of multi-algo dynamic rewards, where less coins are mined if the hashrate is low, to ensure the real supply curve will stay as close as possible to
theoretical model). We have included new RPC command to get the information on the current and past halving periods, current maximum block reward, number of halvings
occured, the current halving interval, etc.
- smooth masternode reward percentage increase from 5% to 60% of the block reward in approximately 5 years period (the current percentage of masternode rewards was 40%,
but with the 10x increase in the block rewards happening in the same time it means the amount of masternode rewards paid with each block will be slightly * higher * than the
current rate)
- smooth Veles Developers fund reward percentage decrease from current 5% to 0% after approximately 5 years period, after which the so called "dev-reward" aka "founder-
reward" will be completly * disabled *.
The update also includes many improvements and fixes ported from Bitcoin Core v0.17, FXCT v0.17, and other small fixes and improvements by the Veles Core developers (for example a new RPC command to display the current hashrate, difficulty and related information for each supported algorithm).
- new wallets https://github.com/Velescore/Veles/releases/latest
Poll
