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sean8585

DDKOIN MONTHLY REWARD AFTER CORE 2.1 LAUNCHED

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Good day,

 

First of all I would like recall about the DDKoin Monthly Stacking Reward reduction such as :

10% - until 3,153,600 Blocks
8% - 3,153,601 - 4,708,800 Blocks
6% - 4,708,801 - 6,264,000 Blocks
4% - 6,264,001 - 7,819,200 Blocks
2% - 7,819,201 Blocks Onwards/ Forever

As I am aware that DDKoin Management Team announced "DDK Blockchain 2.1" on August 21, 2020, I noticed that New Core 2.1 had done many upgrade features one of the example is Blockchain transactions now will have the option to include auxiliary data also referred to as metadata that may provide additional data about how the block has been generated. Core 2.1 is presented with an estimation of 1 block is 30 second. 1 block can fit a minimum 1 transaction to maximum 6000 transactions per block. 1 transaction is ~64KB and 1 block maximum size is 1MB (Not MiB). Meaning DDK Core 2.1 would be around ~217 TPS (Transaction Per Second).

https://announcements.ddkoin.com/ddk-blockchain-2-1-be-the-future-by-our-innovation/

Base on 30 seconds per block after launching Core 2.1, will it affect the timeline of the reducing of staking reward? Does it means that 8% , 6%  AND 4% monthly stacking reward will last longer period for DDKoin communities to be enjoyed?

This is because base on my understanding, the longer time needed to create a block from (10 seconds to 30 seconds) the longer time may it takes to reach every percentages (%) reduction blocks. Would like to seek great answers from experts and thank you in advance.

Edited by sean8585

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Hi Sean,

This is my personal view, yes DDK Core 2.1 will definitely affect the timeline of the reduction of staking rewards but relatively the other way around you suggested or guessed to happen. This is on the premise that what was specified in the whitepaper and translated into a smart contract regarding staking reward will not change. If this excerpt;

"Staking Rewards - this reward is given to community members who freeze their DDKoins in a staking contract for 6 months or more. They will receive a reward of 10% on staked amount, which will decrease in the first year and then every 6 months, by 2%"

will not not change then we expect that realization of reduction's timeline will be affected. In what way? It will take a shorter period to realize the reduction. How is that?

graphhhhhh.png.2c999d531aca3a65bb9245fdd8b3057e.png

Let's assume that DDK Core 2.1 will be launched when block height reached 3,153, 600 blocks (this is the time where reduction will happen, from 10% SR to 8% SR. With the current Core 1.0, next reduction happens after 1,576,800 blocks and all these are based on the following performance:

10s = 1 block ; 1 min = 6 blocks; 1 hour  = 360 blocks; 1 day = 8,640 blocks; 1 year = 3,153,600 blocks; therefore: 1/2 year (or six months) = 1,576,800 blocks

With DDK Core 2.1, it will definitely happen so fast because performance will be:

30s = 1 block; 1 min = 2 blocks; 1 hour = 120 blocks; 1 day = 2,880 blocks; 1 year = 1,051,200 blocks; therefore: 1/2 year (or six months) = 525,600 blocks

This means that with Core 2.1, it will only need to reach a block height equivalent to 525,600 blocks to reduce 8% to 6% staking rewards compared to 1,576,800 blocks with the current Core 1.0. But that will be just the indicator of when halving will happen or at what block height. the most important thing is the rate of how many blocks are created based on the transactions done by SH.

Another thing DDK Core 1.0 can only do 25 transaction per seconds (TPS) while DDK Core 2.1 would be around 217 TPS. But remember that to create blocks there should be more transactions to be executed. The creation of blocks therefore will be based on the number of transactions done in Blockchain. Meaning, the activities of the SH define when will be the next halving. If you recall, based on the max performance of DDK 1.0, it will only take a year to enjoy 10% SR but we are still enjoying the 10% SR in more than 2 years now until the halving on Nov 2020. Why is that? Well because we are only creating an average of 3.4 blocks per minute compared to the capability of DDK 1.0 of 6.0 blocks per minute. So, that contributed to having been able to enjoy the 10% SR longer than expected. Bottom line, if there will be more transactions that will be done within the blockchain then halving or reduction of SR will happen faster than expected.

Personally though, I see it as a delay as well to increase the price of the DDK because of the following:

1. 10% SR contributes to the flooding of available supply while there is lesser demand or new SH acquiring liquid DDK for staking

2. Lesser blocks created than its capability will prolong the delay in the expected halving. That lesser blocks created will mean fewer transactions done and may translate to fewer staking activity done in the blockchain.

I hope I have shared insights for this question.

Z

 

 

 

 

 

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On 9/9/2020 at 12:37 AM, zmeldg said:

Hi Sean,

This is my personal view, yes DDK Core 2.1 will definitely affect the timeline of the reduction of staking rewards but relatively the other way around you suggested or guessed to happen. This is on the premise that what was specified in the whitepaper and translated into a smart contract regarding staking reward will not change. If this excerpt;

"Staking Rewards - this reward is given to community members who freeze their DDKoins in a staking contract for 6 months or more. They will receive a reward of 10% on staked amount, which will decrease in the first year and then every 6 months, by 2%"

will not not change then we expect that realization of reduction's timeline will be affected. In what way? It will take a shorter period to realize the reduction. How is that?

graphhhhhh.png.2c999d531aca3a65bb9245fdd8b3057e.png

Let's assume that DDK Core 2.1 will be launched when block height reached 3,153, 600 blocks (this is the time where reduction will happen, from 10% SR to 8% SR. With the current Core 1.0, next reduction happens after 1,576,800 blocks and all these are based on the following performance:

10s = 1 block ; 1 min = 6 blocks; 1 hour  = 360 blocks; 1 day = 8,640 blocks; 1 year = 3,153,600 blocks; therefore: 1/2 year (or six months) = 1,576,800 blocks

With DDK Core 2.1, it will definitely happen so fast because performance will be:

30s = 1 block; 1 min = 2 blocks; 1 hour = 120 blocks; 1 day = 2,880 blocks; 1 year = 1,051,200 blocks; therefore: 1/2 year (or six months) = 525,600 blocks

This means that with Core 2.1, it will only need to reach a block height equivalent to 525,600 blocks to reduce 8% to 6% staking rewards compared to 1,576,800 blocks with the current Core 1.0. But that will be just the indicator of when halving will happen or at what block height. the most important thing is the rate of how many blocks are created based on the transactions done by SH.

Another thing DDK Core 1.0 can only do 25 transaction per seconds (TPS) while DDK Core 2.1 would be around 217 TPS. But remember that to create blocks there should be more transactions to be executed. The creation of blocks therefore will be based on the number of transactions done in Blockchain. Meaning, the activities of the SH define when will be the next halving. If you recall, based on the max performance of DDK 1.0, it will only take a year to enjoy 10% SR but we are still enjoying the 10% SR in more than 2 years now until the halving on Nov 2020. Why is that? Well because we are only creating an average of 3.4 blocks per minute compared to the capability of DDK 1.0 of 6.0 blocks per minute. So, that contributed to having been able to enjoy the 10% SR longer than expected. Bottom line, if there will be more transactions that will be done within the blockchain then halving or reduction of SR will happen faster than expected.

Personally though, I see it as a delay as well to increase the price of the DDK because of the following:

1. 10% SR contributes to the flooding of available supply while there is lesser demand or new SH acquiring liquid DDK for staking

2. Lesser blocks created than its capability will prolong the delay in the expected halving. That lesser blocks created will mean fewer transactions done and may translate to fewer staking activity done in the blockchain.

I hope I have shared insights for this question.

Z

 

 

 

 

 

Thanks for your sharing zmeldg.

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