Author Topic: How does the distribution of incentives look like in the current blockchains?  (Read 287 times)

Offline ZooBC

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How does the distribution of incentives look like in the current blockchains?


@capodieci and @bzpython answer this question

The strength of the blockchain is largely based on how many people participate in running nodes on the blockchain. The more people participate, the more decentralized the power of creating the blocks is, the more secure the system is overall. As Roberto (Founder & CEO) and Barton (Co-founder and CTO) explain in this video, it's crucial to fairly incentivize as many people as possible for running the nodes so that the reward doesn't go only to a handful of people, but to everybody who creates a node and participates in the network.
« Last Edit: September 21, 2019, 03:05:41 pm by ZooBC »

Offline boby

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Is there any topic of reward mechanisms?

thx

Offline bzpython

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Is there any topic of reward mechanisms?

Hi Boby.

We are still finalizing our plans for how the reward distribution will be done, but it will be something like this: each block, all of the block creators in the node registry have a chance to win a lottery of new coins created by that block. The protocol may select 20, 30 winners per block, something like this, who will evenly divide the new block rewards. A node's chance to win the lottery will be proportional to its Participation Score as derived via the Proof of Participation algorithm.

Offline darcy

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it means winner doesn't take all???
sounds legit, i mean too good to be true


Quote
each block, all of the block creators in the node registry have a chance to win a lottery of new coins created by that block. The protocol may select 20, 30 winners per block, something like this, who will evenly divide the new block rewards. A node's chance to win the lottery will be proportional to its Participation Score as derived via the Proof of Participation algorithm.

Offline pressing207

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 That 's the truth! Vitalik Buterin for Roberto is a small child. He listened to it for years. ALL HE LISTENED TO IN VARYING DEGREES FROM THE HEIGHT OF HIS MIND! DID EVERYONE UNDERSTAND? At the same time, everything will be good for future... Forgive
had the mind to still not deceive anyone. He 's still pulling time. (Looking around blockchain).
Can you imagine how much? At the same time, he remained a good man! I 'm proud to meet him. It 's important not to betray him. He 'll figure it out anyway!
« Last Edit: September 29, 2019, 04:19:50 pm by pressing207 »

Offline billy corgan

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*Leaving the rest as a volunteer

but that's what life about, right?
Life is a competition after all....  but if Roberto really have a mechanism which able to make sure that everybody get the piece of the cake, I am listening

Offline bzpython

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if Roberto really have a mechanism which able to make sure that everybody get the piece of the cake, I am listening

That's the objective.

We can only do so much in this regard. The network still must be resistant to "sybil attacks", so that somebody cannot create a million nodes and suddenly take all the new coins. So we divide the coins among the "registered nodes", and our network protocol strictly limits the process by which new nodes can become registered. But we hope as the network continues running, this can become a very large pool of participants who are dividing the rewards evenly.