Volume Network Foundation Adjust VOL Block Reward for Miners [Short Term]

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Volume Network

Nov 8 · 2 min read

Dear VOL Supporters:

The Volume Network Foundation has disabled the MPRN authorization for miners. Hence, in order to cope with the possible network overload situation and ensure the stable operation of the VOL Alpha Mainnet, the foundation will launch the new deflation initiative at the start of the Alpha Mainnet, thereby leading to a further adjustment of the Network’s highest reward per block to 600 VOL. This adjustment is expected to last for two months (60 days). Once the Alpha Mainnet records a steady operation, the reward will be adjusted back to 1500 VOL per block.

Details of the Block Reward Adjustment Model:

Time Frame: estimated to last for two months after the Alpha Mainnet launch

Adjusted Maximum Block Reward: 600 VOL

Mining Calculation Formula for the Adjusted Reward:

Each TB’s annual VOL yield amount is calculated as: 0.25 * (each node of the current MPRN T pledge amount mean — every T minimum pledge amount) + K (under the adjusted rule), K = 649.9112216

Block reward distribution rules:

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Assuming that a mine pool node is popped up and the block reward is X, the allocation is as follows:

Foundation allocation: X*6/87

Pool Revenue: X * (1–6/87) *10%

Miners total distribution: X * (1–6/87) * 90%. Note that distribution between block miners and stake miners are as follows:

Block miners: 50% of the total distribution of miners

Stake miners: according to the proportion of miner’s pledge under the current pool node (including the 200W stake income of the blocker and the MPRN)

Note:

1. The actual block reward during this period is subject to the above formula and K value calculation.

To learn more about Volume Network, please visit any of the following links below 👇
👉 Twitter: https://twitter.com/VolumeNetwork_
👉 LinkedIn: https://www.linkedin.com/company/volume-network-foundation
👉 Telegram [EN]: https://t.me/VolumeNetworkio
👉 Telegram [TKY]: https://t.me/VolumeNetworkTurkey
👉 Telegram [INDIAN]: https://t.me/VolumeNetworkIndia
👉 Telegram [RUSSIAN]: https://t.me/VolumeNetworkRussia
👉 Facebook Page: https://www.facebook.com/VolumeNetwork
👉 Facebook Group: https://www.facebook.com/groups/volumenetworkcommunity
👉 Medium: https://medium.com/@volumenetworkblockchain
👉 Uptrennd: https://www.uptrennd.com/user/NjYxNg==
👉 Steemit:
https://steemit.com/@volumenetwork
👉 YouTube: https://www.youtube.com/channel/UC2wCgaKjoYy3GzzWe8c8L6
👉 Website: https://volumenetwork.io
👉 Bluepaper: https://volumenetwork.io/miner-guide/VOLMiningBluePaper.pdf



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