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RE: Tokens & Mining Philosophy

in #speak3 months ago

The tokenomics are really clever... I have a few questions.

BROCA can be fungible and used to pay miners. If anything, we want BROCA to be a low, stable price.

LARYNX Miner is mining SPEAK, a capped governance token

One thing I still don't understand perfectly is how miners will get paid. People stake SPEAK and earn BROCA. They then use BROCA to pay the miners. But miners earn SPEAK for mining, so now I'm confused. Does that mean BROCA is burned, and not paid to miners? Also, the first quote implies that BROCA is tradeable, but RCs are not tradeable on hive. They can only be consumed for network usage.


Great question. Broca is a instant payment to the first miner that puts CIDs (video hashes) into the network for others to download. This is called proof of access mining. So there is an incentive to be first because you'll get that Broca reward. The rest of the miners, the ones downloading the videos and have the recall block will be eligible to mine Speak.