Update to the Whitepaper - Emission schedule like BTC

Thanks to @leprechaun pointing out that 20% reduction per year will only allow for about 6.5 million tokens to be distributed, I have changed the emission schedule to match Bitcoin's. This way people aren't left wondering what's to be done with the rest of the tokens.

POB is distributing 50 tokens every 10 minutes, the same amount distributed in BTC mining in the first 4 years. As I was doing the calculations to match Bitcoin's emission schedule, I noticed a slight difference that I have not been able to figure out.

50 tokens every 10 minutes = 6 per hour, 24 hours per day, 365 days per year:

50 x 6 x 24 x 365 = 2,628,000

However, https://en.bitcoin.it/wiki/Controlled_supply shows the emission rate for the first 4 years to be 2,625,000.

I have not been able to see where the 3,000 token difference is coming from. If anyone can explain this to me, I would greatly appreciate it.


Posted via proofofbrain.io



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I think it's because it's not exactly 1 block every 10mins that's why there is no exact date for the next halvening event. Instead it's estimated.
Maybe that's why there are 60 blocks less than you have calculated

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Yeah, that was the only reason I could think of. Hopefully that's all it is. I wonder how it will differ based on distributing according to Hive blocks. Time will tell, I guess.

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I also want to point out you could have still got 21,000,000 with the original schedule by multiplying the initial issuance rate by 21,000,000/6,570,000. All other annual issuance values come from multiply operations of this original value. So that's all you need have done. Then in that case it would have been 4,200,000 distributed the first year. It's funny how 42 appears a lot in my calculations. It's as if it is an ultimate answer for the life, universe, and everything.

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lol, yeah it does seem to be the answer in this situation. I am changing the settings so the halvening is every 42 million blocks.. I'm once again embarrassed by how illusive this was to me and how obvious it seems what I should do now. This does go to show the usefulness in an information sharing network where we can learn from each other.

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Well if collectively learning from others isn't proof of brain, I don't know what is ^.^

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