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block_rewards_distribution [05/01/2023 01:54] – gfactor | block_rewards_distribution [11/02/2023 14:15] – [Minting Bullets] crowetic | ||
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- | The block rewards in Qortal are distributed to every online minter, regardless of the minter who actually finds the block. The rewards are based on the level of the minter and how many online minters are taking part in each block. In other words, | + | The block rewards in Qortal are **distributed to every online minter, regardless of the minter who actually |
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+ | ===== Minting Bullets ===== | ||
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+ | * Every 2 levels is called | ||
+ | * **Every tier shares a given overall | ||
+ | * Block rewards include **the reward itself** and the **fees for each block** created by transactions submitted to the chain. | ||
+ | * Minters share **both the block reward, and split of the transaction fees for each block.** | ||
+ | * Only minters **actively submitting minting signatures** (has a ' | ||
+ | * Signing (or ' | ||
+ | * Every minter is rewarded only based on their level tier and their ' | ||
+ | * Only level **5 or higher** minters sign blocks | ||
+ | * The higher level minters are more likely to be the block signer (for chain security). | ||
+ | * Becoming a minter requires a temporary ' | ||
+ | * During the temporary ' | ||
+ | * Rewards are **split evenly throughout the online minters of any given tier.** | ||
+ | * The higher the tier, the higher the reward. | ||
+ | * The more time a minter has been minting, the higher level they are. | ||
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+ | ===== Minting Security ===== | ||
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+ | In order to ensure the security of the chain, **minting is also structured based on level in regard to block signing.** Block signing simply means the actual minter that creates and adds the block that ultimately gets utilized by the overall chain. | ||
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+ | Minting uses a concept called 'key distance' | ||
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+ | The higher level the minter is, the more likely they are to be the block signer. However, being the block signer (contrary to essentially every other blockchain) does not 'mean anything' | ||
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+ | Since there is **no benefit to being the block signer in terms of rewards** there is also **no ' | ||
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+ | Minting is sometimes referred to as **proof of contribution over time (and Memory Proof-of-Work)** and this is a very accurate description. | ||
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+ | The **Memory Proof-of-Work (MemPoW)** portion of the above statement, comes from the **MemPoW algorithm** that is also part of Qortal Minting. The MemPoW algorithm is utilized in a different fashion to that of most Proof-of-Work algorithms in other blockchains. Whereas most PoW chains utilize the algorithm with a ' | ||
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+ | The **MemPoW algorithm** is a Memory-based Proof-of-Work (PoW) algorithm that is utilized in multiple places within Qortal. In regard to minting, the **MemPoW must be computed, and submitted with each minter signature**. The algorithm is different than other PoW algorithms in multiple ways: | ||
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+ | * MemPoW uses a set difficulty for every minter | ||
+ | * MemPoW is computed and submitted with each minter signature | ||
+ | * MemPoW uses a SET amount of RAM (1MB) (instead of providing more hashrate for more hardware like most PoW algorithms.) | ||
+ | * MemPoW merely limits the number of minting keys that can be assigned to any physical computer, so that those looking to ' | ||
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- | Behold, the Official QORT Coin: | ||
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