It is pity that there is no mining. Many people don't like PoS coins. LISK looks like NEM, NXT, Bitshares, Qora and etc with its flaws.
I hope with that big ICO money LISK team can successfully defend own baby from oblivion. Good luck!
I hope with that big ICO money LISK team can successfully defend own baby from oblivion. Good luck!
Actually there is forging (mining) beeing a delegate is a very serious buisness , can someone please do the math (daily /monthly/yearly forging Lisk per delegate ?
Our Spreadsheet master maybe
would be very nice.I don't know who this "spreadsheet master" is you're talkin' about, but until he shows up, here's some numbers to think about...
Lisk blocktime is every 10 seconds
Your turn as a delegate to forge a block and get a reward comes every 101*10 = 1010 seconds
There's 60*60= 3600 seconds in an hour, so one delegate gets no more than 3600 / 1010 = 3.56 blocks (and rewards) in an hour
There's 24*3600 = 86,400 seconds in a day, so one delegate gets no more than 86,400 / 1010 = 85.54 blocks (and rewards) in a day
There's 30*86,400 = 2,592,000 seconds in a month, so one delegate gets no more than 2,592,000 / 1010 = 2,566.33 blocks (and rewards) in a month
There's 365*86,400 = 31,536,000 seconds in a year, so one delegate gets no more than 31,536,000 / 1010 = 31,233.76 blocks (and rewards) in a year
Year One rewards are 5 Lisk per block forged. Year Two rewards are 4 Lisk per block forged. Year Three, 3 Lisk. Year Four, 2 Lisk. Year Five and onward, 1 Lisk.
Maximum Year One forging rewards for one delegate is thus 31,233 * 5 = 156,165 Lisk. The actual number will be somewhat lower.
it's not the same standard mining is actually fine, if they can add it later by a fork or whatever if possible, it would be great, this must be done with a gpu algo, asic resistant
Mining is evil and will never be a part of Lisk - ASIC, GPU or otherwise. Who needs to generate trillions of useless hashes to look for a winning lottery ticket when you've got a perfect system that only needs one hash per block?
This concept will hurt lisk like bitshares... staking (or similar) is helping, because it supports the network. Many people are participating.
But this delegate thing is cheesy. The poorer ones are getting poorer and can't do anything against it...
