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Nimiq Coin Supply
Nimiq 2.0 Supply Curve Considerations
Team Nimiq would like to introduce their thoughts and suggestions on making adjustments to the coin supply curve for the switch to proof of stake with Nimiq 2.0. The community has asked for a review of this matter on several occasions. A voiced concern has been that the rate of an emission for the current proof of work reward is considered too high. It currently stands at the equivalent of around 29% and utilised emission rate. Making an adjustment is not a small matter for a decentralized blockchain based cryptocurrency.
Given that approve of steaks which hard fork is being planned, it is a reasonable time to now actually consider and potentially implement something like this. References to such possibilities were made both in the original white paper as well as the contribution terms. Community feedback is welcome and expected as part of the decision making process.
We provide the community with the means to simulate and further review the numbers and play with the parameters. You will find the link to the spreadsheet in the corresponding article to this podcast on nimiq.com/blog the sheet is available for download as open document and as an Excel file. The initial rate of coin emission would drop from the current 29% to between three and 7% assuming, for example, that 50% of the coin supply is staked. The reward return would be between six and 14% a preview that projects the yearly numbers for annual supply growth, reward and adjusted reward for staking can also be found in the corresponding blog post.
With this, we would like to open up the discussion and follow ups from the community. A useful starting point could be the existing community forum thread that already touched on this topic. We look forward to constructive comments and feedback on the way to making a decision with the community on potential coin supply adjustments for Nimiq 2.0 we want to hear and discuss all your opinions throughout March end. Based on that, share more information regarding the next steps in a future blog post. Stay tuned for more updates.
All the best from team Nimiq!
#Nimiq #NIM #Nimiq2020 #nimiqcrypto #nimiqcommunity #nimiqcoin #nimcoin #Nimiqblockchain #Cryptocurrency #EasyCrypto #CryptoForAll #blockchain #browser #payments #WeAreTheFuture #NIM #albatross #proofofstake
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By NimiqNimiq 2.0 Supply Curve Considerations
Team Nimiq would like to introduce their thoughts and suggestions on making adjustments to the coin supply curve for the switch to proof of stake with Nimiq 2.0. The community has asked for a review of this matter on several occasions. A voiced concern has been that the rate of an emission for the current proof of work reward is considered too high. It currently stands at the equivalent of around 29% and utilised emission rate. Making an adjustment is not a small matter for a decentralized blockchain based cryptocurrency.
Given that approve of steaks which hard fork is being planned, it is a reasonable time to now actually consider and potentially implement something like this. References to such possibilities were made both in the original white paper as well as the contribution terms. Community feedback is welcome and expected as part of the decision making process.
We provide the community with the means to simulate and further review the numbers and play with the parameters. You will find the link to the spreadsheet in the corresponding article to this podcast on nimiq.com/blog the sheet is available for download as open document and as an Excel file. The initial rate of coin emission would drop from the current 29% to between three and 7% assuming, for example, that 50% of the coin supply is staked. The reward return would be between six and 14% a preview that projects the yearly numbers for annual supply growth, reward and adjusted reward for staking can also be found in the corresponding blog post.
With this, we would like to open up the discussion and follow ups from the community. A useful starting point could be the existing community forum thread that already touched on this topic. We look forward to constructive comments and feedback on the way to making a decision with the community on potential coin supply adjustments for Nimiq 2.0 we want to hear and discuss all your opinions throughout March end. Based on that, share more information regarding the next steps in a future blog post. Stay tuned for more updates.
All the best from team Nimiq!
#Nimiq #NIM #Nimiq2020 #nimiqcrypto #nimiqcommunity #nimiqcoin #nimcoin #Nimiqblockchain #Cryptocurrency #EasyCrypto #CryptoForAll #blockchain #browser #payments #WeAreTheFuture #NIM #albatross #proofofstake