Farming rewards (farming) will create a new Chia after the Chia network block is updated. Our farming reward program directly imitates the reward program of Bitcoin and presents these rewards under an ideal situation, but the reality often deviates from the ideal. Due to the fluctuations in the space added to the network and the increase or decrease in the speed of Timelord, the actual distribution schedule will be almost the same as the Bitcoin distribution schedule in history, although there is still a little difference. We may add a time adjustment factor based on what we have observed in Bitcoin, trying to make the farming reward eventually closer to this ideal than Bitcoin.

The idealized schedule is as follows.

64chia: In the first 3 years after the mainnet launch, it will be generated every 10 minutes

32chia: In the 4th to 6th year after the mainnet launch, it will be generated every 10 minutes

16chia: In the 7th to 9th years after the mainnet launch, it will be produced every 10 minutes

8chia: From the 10th to the 12th year, every 10 minutes will be generated

4chia: After the 12th year, every 10 minutes per year

On the blockchain of the Chia Network, the total number of Chia Coins that may be generated through farming rewards (farming) has no upper limit or limit. At the end of the sixth year after the launch, all farming rewards (farming) generated as of that date will account for 42% of all Chia coins at that time. After the launch of the main network, as trailing emissions begin to slow down in the 13th year, it will take about 21 years for the breeding reward to be equal to the size of the strategic reserve of the Chia network.

The release schedule of the ChiaNetwork blockchain is called the release plan, which adds a significant security advantage over the capped supply. The reward for the capped supply blockchain will ultimately come entirely from transaction fees, which may give miners an incentive to cover recent history during periods of lower transaction fees, rather than mining new blocks, especially if fees are important during the day. And every night (usually from midnight Pacific time to 4 am Pacific time) is close to zero, and this is the pattern that happens today. After the 12th year, the emission rate is fixed at 4 Chia per 10 minutes, so the inflation rate as a percentage of supply will always fall. The inflation rate fell below 0.50% in the 25th year after the release. Our goal is to achieve a reasonable balance between transaction fees and burst release.

This balance point is high enough to strongly encourage farmers to join it, but not too high relative to the fixed reward, so that there is a stronger motivation to cover history. We also believe that the most important thing to understand inflation is not necessarily a fixed supply, but being able to directly calculate a common expectation of the total supply at any given time can get similar financial and peace of mind benefits.

XCH release schedule (production reduction plan): halving plan for the first 12 years after mainnet operation

带你探索Chia挖矿经济模型

Halving plan after the 13th year

带你探索Chia挖矿经济模型

The release schedule of Bitcoin will have an impact on this release schedule, and adjustments have been made to the different mathematical foundations of the Chia blockchain, such as an average of 4608 reward opportunities per day, and faster reductions. Half speed.

The following table compares the total amount of Bitcoin mining during the four-year halving period and the output of Chia coin during the three-year halving period:

带你探索Chia挖矿经济模型

Comparison of the actual output results of the two in 11 years, in which BTC is the estimated value.

Do you understand the Chia mining economic model? If you still don’t understand, you can add the customer service WeChat: fbsxl8. Of course, there are other confused people who can also talk to me. Move your fingers quickly.

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Company profile: The distribution of the main companies of the computing power base, See International Group was established in Hong Kong in 2019, and continues to work hard in the fields of blockchain mining, incubation, and investment. In 2020, with the long-awaited online IPFS main line, halved and Bitcoin prices hit a record high, Ethernet Square 2.0 turned out to pledge mining DeFi off heat waves, calculate force base in homeopathy and health, Shenzhen as the core in the country Open mines in many places.

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I believe that after reading this article, you have a deeper understanding of Chia. If you have any questions, please add the WeChat above. We are waiting for you here.