I'm here with yet another update and exciting news for NIX. I recently wrote about the upcoming switch from PoW to PoS and the current state of the testnet in case you want to read up more on the subject. With the most recent announcement, NIX published their aims to
- drastically improve the future economy
- significantly reduce the block rewards
- regulate inflation with a 40 year plan
- reduce the maximum supply
- ...and more
image courtesy of pixabay
Changes to Block Rewards
Following the transition to Proof of Stake, the Lyra2REv2 Proof of Work algorithm becomes obsolete and miners will no longer get a share of newly generated blocks. Thus, the overall block reward will be lowered and a dynamic staking reward introduced. The old and new values in comparison:
| Total | Ghost Nodes | Dev Fund | Mining | Staking | Max Supply | |
|---|---|---|---|---|---|---|
| Old | 64.000 | 17.92 | 4.48 | 41.6 | 0 | 175.0m |
| New | 12.10 | 8.442 | 1.28 | 0 | 2.35~ (dynamic) | 102.5m |
As the newly generated NIX coming into circulation decreases by a considerable margin (over 80%) along with a much reduced max supply, it would not be unreasonable to expect the coin's value to rise accordingly. Hand in hand with the revised block rewards, the team published their inflation plan.
40 Year Inflation Plan
As already mentioned in the previous section, the inflation schedule can be viewed here. I will also display the table here for your viewing convenience.
| Year | Staking Inflation | Ghost Node Inflation | Development Fund Inflation | Total Circulating Supply |
|---|---|---|---|---|
| 1 | 600,000 | 2,201,134 | 336,384 | 43,156,158 |
| 2 | 647,347 | 2,201,134 | 336,384 | 46,360,384 |
| 3 | 695,405 | 2,201,134 | 336,384 | 49,612,308 |
| 4 | 744,184 | 1,110,067 | 168,192 | 51,634,752 |
| 5 | 774,521 | 1,110,167 | 168,192 | 53,687,533 |
| 10 | 913,850 | 555,033 | 84,096 | 62,476,359 |
| 15 | 1,019,274 | 277,516 | 42,048 | 69,290,440 |
| 20 | 1,112,940 | 69,379 | 10,512 | 75,388,833 |
| 25 | 1,203,794 | 34,689 | 5,256 | 81,546,314 |
| 30 | 1,298,984 | 17,344 | 2,628 | 87,993,529 |
| 35 | 1,400,319 | 8,672 | 1,314 | 94,856,073 |
| 40 | 1,508,946 | 2,168 | 328 | 102,210,160 |
Parting Words
As always, the NIX team continues to work their hardest and deliver on time. The community is very excited and should you want to join, you can do so by following this Discord invite link. Should you have any questions regarding this article, I am very happy to answer your comments.
Always interesting to follow you back... Thanks for the updates
Thanks for the kind words, happy to provide.
The pleasure's all mine .
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Congratulation dacx very nice your post
Thank you for the butterflies I guess! :-)
Great article thanks for sharing the news and keep up the great content.
Thank you. Will definitely do.
Great article thanks
For sharing the news and keep
Up the great content.
- pheonixdown-dee
I'm a bot. I detect haiku.
Thanks for the update Sir :) Really interesting content.
Glad you liked it. :-)
Amazing !!!!!!
Muy buen articulo muy instructivo y fácil de entender sigue haciendo ese tipo de post
If that is a sincere comment, thank you!
thanks...
Awesome!!!!
Beautiful
Thanks for update
I think this article is fantastic .. Can you give me your opinion of my article knowing that I am a beginner?
Do you mean your
15-ways-to-feel-more-powerful-in-10-minutesarticle? I think the content doesn't make sense (it's what you can do in 10 mins and you start off with waking up earlier and other things you can't complete in that time span). You could also improve on your formatting as the ordered list is not displayed correctly.Let me know if you need any more help.
my opinion can be change now.
What do you mean exactly?
Venezuela aca presente! Me interesa aprender e informarme. Quien apoya con un voto.
Is this vote begging?
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I am a bit new in steem and this tale has helped me to apprehend a chunk like this platform was earlier than, I simply noticed all the help you give to the users because I have been working on it for a few days now could be high-quality, I would love someday to be one of these folks that obtain your assist, I will constantly be helping you within the comments, my buddy, I am hoping you have got a pleasant afternoon.
Hey good to read this article
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@dacx I'm new here sir.....
My name is Ikedi Kingsley Nero, I will want to be part of your community and also to know more about your article .... Thank you very much sir
Hey there!
What would you like to know?
I think, I will start by knowing what the community is all about and it's purpose
If you are talking about NIX, you can find more information here: https://nixplatform.io/
OK Thanks
Thanks.....
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Great article dacx. A lot of information to process
Glad you liked it. The changes will be live on mainnet with block 53000. :-)
Thanks for giving me such a beatiful knowledge
very nice to know this
Mxt @dacx
Hm?
Great article thanks for sharing. I write about projects myself if you would like to check out my work and follow me.
You haven't posted anything recently. How about you check out https://nixplatform.io/ and write an article? I'd be happy to read it.
I only write when I have a found a project which interests me. As when I prepare to invest I like to do my due diligence. My research becomes my article and they take a while to compile. I am searching for my next ICO to talk about now. I will check out NIX Platform and if captures my attention, I will start research and an article. Thanks
Excellent, I'll drop you a follow and will see what you come up with.
Excellent, I'll drop
You a follow and will see
What you come up with.
- dacx
I'm a bot. I detect haiku.
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