If there are only 10k blocks with 100 coins reward there will be 1M coins in existence after PoW phase is over, not 42M as stated in the OP. There is also something else.
{
"version" : "v1.0.0.0-g32a928e",
"protocolversion" : 60013,
"walletversion" : 60000,
"newmint" : 0.00000000,
"stake" : 365.11343470,
"blocks" : 4428,
"timeoffset" : 6,
"moneysupply" : 281003.96916401,
"connections" : 19,
Currently there are 281k coins in exsistence, but explorer shows 249k. Dev?
About the 42M. {
"version" : "v1.0.0.0-g32a928e",
"protocolversion" : 60013,
"walletversion" : 60000,
"newmint" : 0.00000000,
"stake" : 365.11343470,
"blocks" : 4428,
"timeoffset" : 6,
"moneysupply" : 281003.96916401,
"connections" : 19,
Currently there are 281k coins in exsistence, but explorer shows 249k. Dev?
It doesnt say anywhere that the PoW phase will produce 42M. That amount will be reached over time with 1% PoS. When that number is reached, Pos miners will only collect the fees and no new coins will be created.
The PoW phase will produce approximately 1M coins. But that number will be lower because there are already POS blocks being mined which do not recieve the 100 coin reward.
So PoW stops at block height 10000, but since there will also be PoS blocks contributing to the height, the amount of coins in existence when PoW stops will be less than 1 milion.
Hope this answers your question.
So if we assume that PoW phase will be with exactly 1M coins in existence and PoS interest is exactly 1%, then it would take about 4100 years for all the coins to be mined!
Exactly!
So we don't have to worry about the 42 milion in our lifetime
ARC is no way about competing with any crypto currency, for now its a blockchain ledger. Next steps are electrum wallets for android/ios.
