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| block_rewards_distribution [11/02/2023 14:13] – [Minting Bullets] crowetic | block_rewards_distribution [03/24/2025 15:46] (current) – crowetic | ||
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| ===== Minting Bullets ===== | ===== Minting Bullets ===== | ||
| - | * Every 2 levels is called a 'ter'. | + | * Every 2 levels is called a **'tier'**. |
| - | * Every tier shares a given overall percentage of each block' | + | |
| + | * 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 ' | * Only minters **actively submitting minting signatures** (has a ' | ||
| * Signing (or ' | * Signing (or ' | ||
| Line 45: | Line 47: | ||
| - | {{ | + | {{:: |
| - | :45d8cf2d-33c3-469d-8a41-da72c44afea9.jpeg |}} | + | |
| - | More about QORT on the [[The QORT Coin]] page. | + | The Qortal Logo while Minting is Active. |
| - | =====Minting Levels===== | + | ===== Minting Levels |
| Minting is extremely important to the system, as it is the way that blocks are found, and the chain progresses forward. Without the minters, the chain doesn' | Minting is extremely important to the system, as it is the way that blocks are found, and the chain progresses forward. Without the minters, the chain doesn' | ||
| - | **Please note:** the rewards have been modified from their original percentages. The rewards | + | **Further Reward Modifications As of version 4.7.0** |
| + | - **Levels 1 and 2** minting accounts share **6%** of the block reward | ||
| + | \\ | ||
| + | - **Levels 3 and 4** share **13%** | ||
| + | \\ | ||
| + | - **Levels 5 and 6** share **19%** of the block reward | ||
| + | \\ | ||
| + | - **Levels 7 and 8** share **26%** of the block reward | ||
| + | \\ | ||
| + | - **Levels 9 and 10** share **32%** of the block reward | ||
| + | \\ | ||
| + | - **QORA holders transitioning into QORT coin share 1% of the block reward** | ||
| + | \\ | ||
| + | - **MINTER AND DEV ADMINS - THERE ARE NO MORE FOUNDER REWARDS - FOUNDER ACCOUNTS ARE NO DIFFERENT THAN ANY OTHER MINTING ACCOUNT** share a minimum of **3%** of the block reward, and/ | ||
| + | |||
| + | ===== Previous Reward Structure (deprecated, | ||
| - **Levels 1 and 2** minting accounts share **6%** of the block reward | - **Levels 1 and 2** minting accounts share **6%** of the block reward | ||
| Line 74: | Line 90: | ||
| **QORA Burn Rewards go to wallets every block without having to mint. This is the only reward that does not require minting. If you are also a minter, this reward is still issued on top of your minting reward.** | **QORA Burn Rewards go to wallets every block without having to mint. This is the only reward that does not require minting. If you are also a minter, this reward is still issued on top of your minting reward.** | ||
| - | ===== Original Reward Percentages ===== | + | ===== Original Reward Percentages |
| **Please note:** below are the original percentages for historical reference: | **Please note:** below are the original percentages for historical reference: | ||
| Line 105: | Line 121: | ||
| The block rewards on Qortal are meant to be never-ending. Since QORT is a coin on chain, there should always be new QORT available to power the various services on the network. | The block rewards on Qortal are meant to be never-ending. Since QORT is a coin on chain, there should always be new QORT available to power the various services on the network. | ||
| - | No Total Cap on QORT coin, approximately every ‘6 months’ (based on a calculation of 60 seconds per block which is slightly higher) there is a decrease in block reward from its start at 5 QORT, by .25, until 2 QORT is the reward. Thereafter, a vote can be made for an increase or decrease of 0.25 to 1 QORT difference per block via vote, however, this type of vote can only take place one time per ‘year’ (in blocks). For example, if the current block reward was 3 QORT, the vote could only be: 2, 2.25, 2.5, 2.75, 3, 3.25, 3.5, 3.75 & 4 QORT. (Only up to a 1 QORT difference up or down or any 0.25 increment between.) Block reward can only be voted to as low as 1 QORT per block, or as high as 5 QORT per block. These are the minimum and maximum block reward range Qortal will ever potentially see. We are currently at 4.5 QORT per block as of February 7th 2021. You can see the current block height at www.exqlorer.com | + | No Total Cap on QORT coin, approximately every ‘6 months’ (based on a calculation of 60 seconds per block which is slightly higher) there is a decrease in block reward from its start at 5 QORT, by .25, until 2 QORT is the reward. Thereafter, a vote can be made for an increase or decrease of 0.25 to 1 QORT difference per block via vote, however, this type of vote can only take place one time per ‘year’ (in blocks). For example, if the current block reward was 3 QORT, the vote could only be: 2, 2.25, 2.5, 2.75, 3, 3.25, 3.5, 3.75 & 4 QORT. (Only up to a 1 QORT difference up or down or any 0.25 increment between.) Block reward can only be voted to as low as 1 QORT per block, or as high as 5 QORT per block. These are the minimum and maximum block reward range Qortal will ever potentially see. We are currently at 3.75 QORT per block as of November 18th 2023. You can see the current block height at https://exqlorer.com |
| - | =====Reward Schedule & Reduction===== | + | ===== Reward Schedule & Reduction ===== |
| Block 1+ Reward: 5.00 | Block 1+ Reward: 5.00 | ||
block_rewards_distribution.1698948822.txt.gz · Last modified: 11/02/2023 14:13 by crowetic