I had bolded that criterion as final as inferred from the 50-ZEC per block starting reward; the approximate 4-year halving period; and the 21M total eventual supply. I assumed that if these three criteria were to be taken as finalized, then 10-minute spacing would be required to make that happen as per Bitcoin, with a natural curve halving every four years down to fee-only blocks.
I suppose if you chose a tighter target spacing than ten minutes, you’d simply halt the block reward completely at 21M total eventual supply. But at a block spacing any shorter than ~4 minutes, you’d hit that 21M total eventual supply cutoff before the reward even had a chance to halve within the designated 4-year halving period.
So it seems most likely to me that if the 10-minute blocktime is not set in stone yet, neither is the reward halving period-- I would assume that the starting reward and total eventual supply are much more important as hard data points from which to set the timing of a smooth emission curve.
To clarify, the starting reward target will be 50 ZEC every 10 minutes, but it hasn’t been decided that the target block time will be 10 minutes. Just as an example, if the target block time were 5 minutes, then the starting reward per block would be 25 ZEC (20 ZEC to the miner and 5 ZEC to the founders, in the ~4 years before the first halving). This gives the same money supply curve.
Thanks for pointing out that we needed to clarify this.
(Note that the expected revenue per unit time for a miner with a given work rate is independent of the decision about target block time.)
This should clarify that it’s only in the period (of approximately 4 years) before the first reward halving. After that, miners get the whole block reward. Also, miners always get all of the transaction fees.
It appears editing of posts is locked after a certain post age. To keep this OP relevant I’ll need the ability to edit it indefinitely until zcash is launched-- could I please get a moderator’s help unlocking this post for the sake of updating it?
Are there going to be any other forms of initial distribution? Proposed mining rate too slow in today’s Crypto Economy. Things are moving way faster now then when Bitcoin started. We’re now working with Warp speeds. Can we think of a fair Warp grade distribution?
sha256 is not a terribly demanding proof of work so while the Bitcoin network’s peta-hash rate is still impressive it’s kind of like measuring stellar distances in metres instead of light-years.