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block_rewards_distribution [06/03/2025 20:04] – crowetic | block_rewards_distribution [06/04/2025 14:50] (current) – crowetic | ||
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- | The block rewards in Qortal are **distributed to every online minter, regardless of the minter who actually ' | + | The block rewards in Qortal are **distributed to every online minter, regardless of the minter who actually ' |
- | ===== Minting | + | ===== Minting |
* Every 2 levels is called a **' | * Every 2 levels is called a **' | ||
* **Every tier shares a given overall percentage** of **each block' | * **Every tier shares a given overall percentage** of **each block' | ||
- | * Block rewards include **the reward itself** and the **fees | + | * Block rewards include **newly created QORT coins** and**transaction |
- | * Minters share **both the block reward, and split of the transaction fees for each block.** | + | * Minters share an even split of their minting tier's percentage of every block's rewards. |
- | * Only minters **actively submitting minting signatures** (has a 'minting key' | + | * Only minters **actively submitting minting signatures** (a node running with their minting key assigned to it) are rewarded. |
- | * Signing (or ' | + | * Signing (or ' |
- | * Every minter is rewarded | + | |
- | * Only level **5 or higher** minters sign blocks | + | * Only level **5 or higher** minters sign blocks. |
* The higher level minters are more likely to be the block signer (for chain security). | * The higher level minters are more likely to be the block signer (for chain security). | ||
- | * Becoming a minter requires | + | * Becoming a minter requires |
- | * During the temporary | + | * Sponsorship is NO LONGER UTILIZED ON QORTAL. |
- | * Rewards are **split evenly throughout | + | * Would-be minters submit a 'card' |
- | * The higher the tier, the higher | + | * Higher level tiers earn larger percentages of the overall block reward. |
- | * The more time a minter has been minting, the higher level they are. | + | * The longer |
+ | * Higher level minters have more ' | ||
+ | * Higher level minters have higher likelihood of being the signer of the block validated by the rest of the network and made part of the chain. | ||
===== Minting Security ===== | ===== Minting Security ===== | ||
+ | ==== ' | ||
+ | In order to ensure the security of the chain, **__minting leverages a minter' | ||
- | In order to ensure the security of the chain, **minting is also structured based on level in regard | + | Qortal' |
- | Minting uses a concept called | + | ==== No 'Block Signer Benefit' |
+ | As stated, **the higher | ||
- | 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' | + | ==== Negation of Monetary Influence ==== |
+ | Removing | ||
- | Since there is **no rewards benefit to being the block signer** there is also **no ' | + | All minters start at level 0, and ultimately end at level 10, once at level 10 their influence will still increase, but at an ever-slowing magnitude of overall influence[*]. Making it so that while minters always do increase in effective security and influence, their lower-level minter compatriots may come quite near their higher-level counterparts in influence and network security effectiveness. |
+ | ==== Proof of Contribution over Time (PoCoT) ==== | ||
Minting is essentially **proof of Contribution Over Time (and Memory Proof-of-Work)**. Qortal leverages Proof of Work, however, it is a different type of PoW, and doesn' | Minting is essentially **proof of Contribution Over Time (and Memory Proof-of-Work)**. Qortal leverages Proof of Work, however, it is a different type of PoW, and doesn' | ||
+ | |||
+ | ==== MemPoW Algorithm - A Memory-Based Proof of Work==== | ||
+ | --**__Mem__**// | ||
The **Memory Proof-of-Work (MemPoW)** portion of the consensus mechanism, comes from the **MemPoW algorithm**. Whereas most PoW chains utilize a PoW algorithm with a ' | The **Memory Proof-of-Work (MemPoW)** portion of the consensus mechanism, comes from the **MemPoW algorithm**. Whereas most PoW chains utilize a PoW algorithm with a ' | ||
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The **MemPoW algorithm** is a Memory-based Proof-of-Work (PoW) algorithm utilized in multiple portions of Qortal' | The **MemPoW algorithm** is a Memory-based Proof-of-Work (PoW) algorithm utilized in multiple portions of Qortal' | ||
- | A quick list of differences between Qortal' | + | ==== A quick list of differences between Qortal' |
- | + | ||
- | * MemPoW leverages an established ' | + | |
- | * MemPoW is computed and submitted with each minter signature, thus providing a required ' | + | |
- | * MemPoW uses a SET amount of RAM (1MB) and is computed primarily within memory bandwidth. Providing a very power-friendly Proof of Work that doesn' | + | |
- | * The MemPoW algo in regard to Minting on Qortal merely exists as a method to prevent submission of ' | + | |
- | * The MemPoW is also leveraged to prevent ' | + | |
- | + | ||
- | + | ||
+ | * **MemPoW** leverages an **established ' | ||
+ | * **MemPoW** is **computed and submitted with each minter signature**, | ||
+ | * **MemPoW** uses a **SET amount of RAM (1MB)** and is **computed primarily within memory bandwidth**. Providing a very power-friendly Proof of Work that doesn' | ||
+ | * The **MemPoW** algo in regard to Minting on Qortal merely exists as **a method to prevent submission of ' | ||
+ | * **MemPoW** is also **leveraged to prevent ' | ||
{{:: | {{:: | ||
- | The Qortal Logo while Minting is Active. | + | (//The Qortal Logo while Minting is Active.//) |
===== Minting Levels (Currently Active Distribution Schedule) ===== | ===== Minting Levels (Currently Active Distribution Schedule) ===== | ||
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- **QORA holders transitioning into QORT coin share 1% of the block reward** | - **QORA holders transitioning into QORT coin share 1% of the block reward** | ||
\\ | \\ | ||
- | **NOTE - AS OF 4.7.0 FOUNDER REWARDS ARE REMOVED. FOUNDER ACCOUNTS ARE NO DIFFERENT THAN ANY OTHER ACCOUNT ON QORTAL.** As per the proposal by crowetic (https:// | + | ==== NOTE - AS OF 4.7.0 FOUNDER REWARDS ARE REMOVED. FOUNDER ACCOUNTS ARE NO DIFFERENT THAN ANY OTHER ACCOUNT ON QORTAL. |
+ | |||
+ | As per the proposal by crowetic (https:// | ||
Another portion of this proposal, is the removal of the ' | Another portion of this proposal, is the removal of the ' | ||
\\ | \\ | ||
- | - **MINTER AND DEV ADMINS - ** share a minimum of **3%** of the block reward, and/or the ' | + | - **MINTER AND DEV ADMINS -** share a minimum of **3%** of the block reward, and/or the ' |
- | ===== Previous Reward Structure (deprecated, | ||
- | - **Levels | + | ===== QORT Initial Block Reward Decrease Schedule ===== |
+ | |||
+ | Block #: **1+** Reward: 5.00 QORT/block - (June 2020) | ||
\\ | \\ | ||
- | - **Levels 3 and 4** share **13%** of the block reward | + | Block #: **259,201+** Reward: |
\\ | \\ | ||
- | - **Levels 5 and 6** share **19%** of the block reward | + | Block #: **518,401+** Reward: |
\\ | \\ | ||
- | - **Levels 7 and 8** share **26%** of the block reward | + | Block #: **777,601+** Reward: |
\\ | \\ | ||
- | - **Levels 9 and 10** share **32%** of the block reward | + | Block #: **1,036,801+** Reward: |
\\ | \\ | ||
- | - **QORA holders transitioning into QORT coin share 1% of the block reward** | + | Block #: **1,296,001+** Reward: **3.75** QORT/block |
\\ | \\ | ||
- | + | Block #: **1,555,201+** Reward: **3.50** QORT/block | |
- | Also note - All tiers aside from TIER 1 (lvl1+2) require at least 30 minters before they become active. If a tier has between 1 and 29 minters, the rewards are combined and shared with the previous tier. **If a tier has ZERO minters, the rewards are given to Dev+Minter Admins as opposed to the level tiers.** | + | \\ |
- | + | Block #: **1,814,401+** Reward: | |
- | **QORA BURN REWARDS - Those who BURNED (destroyed) QORA coins on the QORA chain prior to Qortal Genesis, in favor of a transition to QORT, are given 1% regardless of whether they mint or not. | + | \\ |
- | + | Block #: **2,073,601+** Reward: | |
- | **DEV ADMIN REWARDS** - Developers who prove themselves for a long enough period of time, and are subsequently voted into the developer group admins by the existing developer admins, receive their developer reward regardless of their developer accounts' | + | |
- | + | ||
- | **MINTER ADMIN REWARDS** - Minter Admins are the admins of the MINTER group(s), and the accounts by which GROUP_APPROVAL transactions determine which accounts are allowed to mint. Minter Admins DO have a minting requirement for their rewards, as minting is their realm of responsibility. Therefore, Minter Admins, regardless of their status as admin of the MINTER group(s), must submit minting signatures in order to obtain their Minter Admin rewards. | + | |
- | + | ||
- | ===== Original Reward Percentages (deprecated, | + | |
- | + | ||
- | **Please note:** below are the original percentages for historical reference: | + | |
- | + | ||
- | - **Levels 1 and 2** minting accounts share **5%** of the block reward | + | |
\\ | \\ | ||
- | - **Levels 3 and 4** share **10%** of the block reward | + | Block #: **2,332,801+** Reward: |
\\ | \\ | ||
- | - **Levels 5 and 6** share **15%** of the block reward | + | Block #: **2,592,001+** Reward: |
\\ | \\ | ||
- | - **Levels 7 and 8** share **20%** of the block reward | + | Block #: **2,851,201+** Reward: |
\\ | \\ | ||
- | - **Levels 9 and 10** share **25%** of the block reward | + | Block #: **3,110,401+** Reward: |
\\ | \\ | ||
- | - **QORA holders transitioning into QORT coin share 20% of the block reward** | ||
\\ | \\ | ||
- | - **Founders** share a minimum of **5%** of the block reward, and/or the ' | + | **ABSOLUTE MINIMUM BLOCK REWARD = 1 QORT/block** (plus transaction fees) |
+ | \\ | ||
+ | \\ | ||
+ | **ABSOLUTE MAXIMUM BLOCK REWARD = 5 QORT/block** (plus transaction fees) (This is the Genesis Block Reward amount.) | ||
===== More Info ===== | ===== More Info ===== | ||
- | Only ACTIVE minters are rewarded each distribution cycle. | + | Only **ACTIVE minters are rewarded** each distribution cycle. |
\\ | \\ | ||
- | Currently, distribution cycles are 1000 blocks. Every 1000th block is a ' | + | Currently, |
\\ | \\ | ||
- | Distribution cycles are subject to change, as are the percentages rewarded to each level tier. Proposals from the Qortal Community may be made for any modification to any portion of the network and its existing rules. If the proposal is viable, and gets enough support from the community, it will then be sent to the developer group for review. Upon said review, if the proposal is deemed valid by the developers, it will be determined whether it is possible to build it in its current state, or whether modifications are required. If it is acceptable as-is, it will be given a final vote by the developers, at which point it will be started on if the vote passes. If it is NOT deemed viable for whatever reason, it will be modified by the developers, and sent back to the community for another vote. Repeat until the proposal is both viable, and approved, then built, and implemented. | + | //Distribution cycles are subject to change//, as are the percentages rewarded to each level tier. Proposals from the Qortal Community may be made for any modification to any portion of the network and its existing rules. If the proposal is viable, and gets enough support from the community, it will then be sent to the developer group for review. Upon said review, if the proposal is deemed valid by the developers, it will be determined whether it is possible to build it in its current state, or whether modifications are required. If it is acceptable as-is, it will be given a final vote by the developers, at which point it will be started on if the vote passes. If it is NOT deemed viable for whatever reason, it will be modified by the developers, and sent back to the community for another vote. Repeat until the proposal is both viable, and approved, then built, and implemented. |
\\ | \\ | ||
Future methods of rewards for additional account types or concepts, may potentially modify the overall rewards distribution, | Future methods of rewards for additional account types or concepts, may potentially modify the overall rewards distribution, | ||
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===== Block Rewards ===== | ===== Block Rewards ===== | ||
- | Qortal, unlike most other blockchain-based systems, is a system built with true decentralization and continual | + | Qortal, unlike most other blockchain-based systems, is a system built with true decentralization and indefinite |
Regardless of the fact that no 'total coin supply cap' exists, that does not then say that ' | Regardless of the fact that no 'total coin supply cap' exists, that does not then say that ' | ||
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**ABSOLUTE MINIMUM BLOCK REWARD = 1 QORT/ | **ABSOLUTE MINIMUM BLOCK REWARD = 1 QORT/ | ||
+ | \\ | ||
**ABSOLUTE MAXIMUM BLOCK REWARD = 5 QORT/ | **ABSOLUTE MAXIMUM BLOCK REWARD = 5 QORT/ | ||
- | + | \\ | |
- | ==== QORT Initial Block Reward Decrease Schedule ==== | + | \\ |
- | + | \\ | |
- | Block 1+ Reward: 5.00 - (June 2020) | + | [*] = NOTE - The decreasing magnitude of effectiveness for max-level minting accounts has not yet been developed, and as such does not yet hold exact detail that may be described herein. Upon the Qortal Development Group' |
- | + | ||
- | Block 259,201+ Reward: 4.75 | + | |
- | + | ||
- | Block 518,401+ Reward: 4.50 | + | |
- | + | ||
- | Block 777,601+ Reward: 4.25 | + | |
- | + | ||
- | Block 1,036,801+ Reward: 4.00 | + | |
- | + | ||
- | Block 1,296,001+ Reward: 3.75 | + | |
- | + | ||
- | Block 1,555,201+ Reward: 3.50 | + | |
- | + | ||
- | Block 1,814,401+ Reward: 3.25 | + | |
- | + | ||
- | Block 2,073,601+ Reward: 3.00 - (June 2025) | + | |
- | + | ||
- | Block 2,332,801+ Reward: 2.75 | + | |
- | + | ||
- | Block 2,592,001+ Reward: 2.50 | + | |
- | + | ||
- | Block 2,851,201+ Reward: 2.25 | + | |
- | + | ||
- | Block 3,110,401+ Reward: 2.00 | + |