mimblewimble team mailing list archive

[John Tromp <john.tromp@xxxxxxxxx>]

dear imblers,

Ignotus and me both seem to share the opinion that a tail-less (i.e.
fees only) schedule may be undesirable.

Currently the code appears to just set the reward to a constant
REWARD, with halving yet to be implemented. (I noticed a comment typo
where it says the reward should be deductible from the header, where I
think deducible is meant)

I just thought of a scheme that may satisfy both proponents of
inflation and deflation.

The whole block history shall be divided into epochs lasting 2^i blocks.
There is a peak epoch where the block reward peaks at REWARD per
block. Block in non-peak epochs get exponentially smaller rewards
(REWARD/2^{epoch distance from peak}).

That's it. The block reward starts out 0, and ramps up exponentially
at the same rate that epochs get longer. Then, at for instance about 4
years in,
the peak epoch starts. 4 years later the peak epoch ends as the reward
halves, but this will now last for an 8 year epoch. The next epoch,
with rewards equal to a quarter of peak, will last 16 years. So each
successive epoch will contribute the same number of coins to the
distribution. In practice it will take too long for the reward to
become negligible.

regards,
-John