Difference between revisions of "Economics"
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* Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year | * Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year | ||
* 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR) | * 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR) | ||
| − | * | + | * 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock) |
| − | * | + | * 25% is given to the next due Sanctuary |
| − | * | + | * 25% is allocated to heat-mining (Proof-of-BibleHash POW mining) |
== How to calculate a BiblePay reward schedule: == | == How to calculate a BiblePay reward schedule: == | ||
| − | * Block | + | * Block 120,000 has a gross reward of 10,400 with a difficulty of 15701 |
| − | * Multiply | + | * Multiply 10400 * .20 to find the governance budget |
| − | * Multiply | + | * Multiply 10400 * .30 to find the GSC budget |
| − | * Multiply | + | * Multiply 10400 * .25 to find the Sanctuary payment |
| − | * Multiply | + | * Multiply 10400 * .25 to find the POW heat miner allocation |
| − | |||
| − | |||
* Total : 100% | * Total : 100% | ||
| Line 27: | Line 25: | ||
* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | * Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | ||
| − | == Gross breakdown of mining operations | + | == Gross breakdown of mining operations: == |
| − | * | + | * 50% is given to POBH |
| − | * | + | * 50% is given to Sanctuary |
| − | |||
== Deflation: == | == Deflation: == | ||
Revision as of 14:04, 28 June 2019
Contents
BiblePay Economics:
Gross Block Breakdown:
- Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year
- 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR)
- 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock)
- 25% is given to the next due Sanctuary
- 25% is allocated to heat-mining (Proof-of-BibleHash POW mining)
How to calculate a BiblePay reward schedule:
- Block 120,000 has a gross reward of 10,400 with a difficulty of 15701
- Multiply 10400 * .20 to find the governance budget
- Multiply 10400 * .30 to find the GSC budget
- Multiply 10400 * .25 to find the Sanctuary payment
- Multiply 10400 * .25 to find the POW heat miner allocation
- Total : 100%
Gross breakdown of Governance Budget:
- Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
- IT Expenses and Payroll: 25%
- PR and Campaigns: 12.5%
- Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%
Gross breakdown of mining operations:
- 50% is given to POBH
- 50% is given to Sanctuary
Deflation:
The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
See BiblePay Emission Schedule for more details.
