There are up to 10 guys working behind the scene but we have only 3 programmers plus me, making 4. But I don’t have time to write codes because I have other things to solve, and other management work.
I was having a short meeting with two of the Typeearn developers in their house and we thought of changing more than we have done. Most of our users on Hive know how the Mining algorithm worked on Steem then. We have a divisor, which is the number of token holders in the community. This was designed to change as we have more users. This worked well, but when it gets to a point, the mining rate would reduce drastically and it won’t give good ROI for investors.
This was the problem that needed a fix. I(we) worked through it and created a formula for token mining on the project, which we derived from quadratic. Also, the Stake power is the 40% of the token divided by the total power. It is a powerful algorithm that solve a short and long-time problem. The volatility of the token will also determine the mining rate. The Units are below.
SP= Stake Power
TP= Type Power
TPN Power= % x 5000
cS = conferShare
TC = TypeCredit — Gen/Min
We used the above to construct a quadratic like formula. Thorough information will be on the project white paper. We are getting closer to finish the work. @forykw one of the typeearn consultants gave us a suggestion many months ago about avoiding changing metrics every time. We use this advice in this new typeearn that we are building.
The journey is still long but we're here and getting closer. Also, there would be much expansion coming to Gitplait once we are done with Typeearn.
Thanks to all the exceptional guys working on Typeearn and Gitplait.