Qortal Project

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block_rewards_distribution

Block Rewards & Distribution

The block rewards in Qortal are distributed to every online minter, regardless of the minter who actually finds the block. The rewards, instead, are based on the level of the minter and how many online minters are taking part each block. In other words, we all earn a portion of each block reward so simply running a node and supporting the network (starting at account level 1 which requires sponsorship). Each tiered group of leveled accounts share a percentage of each block reward as explained below.

Behold, the Official QORT Coin:

More about QORT on the The QORT Coin page.

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't move.

Due to the extreme importance of the minters, they are rewarded a portion of each block reward. The rewards of every block, are distributed via the following:

- Levels 1 and 2 minting accounts share 5% of the block reward
- Levels 3 and 4 share 10% of the block reward
- Levels 5 and 6 share 15% of the block reward
- Levels 7 and 8 share 20% of the block reward
- Levels 9 and 10 share 25% of the block 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 'leftover' percentage, which initially will be higher when there aren't users in all of the various level groups, and will decrease over time.

There are a few variables in calculating the exact block reward (which is virtually impossible to be 100% accurate each block). Let's break this down:

For example, if there were 50 minters who are level 1, and 50 minters who are level 2, there would be a TOTAL of 100 minters in the first block reward tier (5% between levels 1 & 2).

In this same example, let's assume that all 100 are ACTIVE minters (each minter must be fully synced and actively minting each block to earn their portion of the block reward). 5% block reward divided by 100 minters equals 0.0005 per minter. Now let's assume the current block reward is 4.5 QORT (the block reward schedule changes as seen below on this page under the 'Block Rewards' subsection. 0.0005 of 4.5 QORT equals 0.00225 QORT per block for a level 1 or 2 minter (each minter would earn 0.00225 QORT per block in this example).

Obviously we currently have more than 100 minters in this tier group, and as we experience further adoption, the total number of active minters in each tier will continue to grow. This is what we want! More minters, more network support, more decentralization! The collective attitude should be to support the network by running a node and with time, the value of QORT will surely RISE with such a limited release schedule along with further applicability of QORT within Qortal.

Block Rewards

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, every ‘6 months’ 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 with the suggestion of 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 November 8th 2021.

Reward Schedule and Reduction

Block 1+ Reward: 5.00

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

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

block_rewards_distribution.txt · Last modified: 2021/12/01 17:13 by gfactor