Founders block reward


#1

someone knows how the zcash team hardcoded the 20% "founders block reward" in an open source software??


#2

I would assume they did it with the same programming skills that they coded the rest of the protocol with. Do you suspect they used a different approach?


#3

Check this post on the Founders Reward . https://medium.com/@heyrhett/zcash-miners-stop-paying-20-genius-tax-486d9f40884f#.skdam4rgg


#4

I'm familiar with the reward.


#5

This thread made my day.

<3 <3 <3


#6

I don't really understand what prevents any pool to strip these two line of code?
anyone with a good hashrate had the curiosity to try if it works?


#7

for now, this address has received his reward for every single mined block

https://explorer.zcha.in/accounts/t3Vz22vK5z2LcKEdg16Yv4FFneEL1zg9ojd


#8

The consensus protocol. If a pool strips out these lines, it would fork off and will lose income. It would only work if all miners/users remove these lines.


#9

sure, you could do that.
but you'd have to then form your own pool, get more hashpower than somewhere like suprnova.cc (over million h/s at last check).

i'd say pools not removing it would be a 'gentlemans agreement' between dev and pool.


#10

you can be more explicit... how the protocol ensures that the founders fee is created and is destined exactly that precise address?


#11

not true, its just an extra transaction from coinbase.
it's not changing the total amount generated, nor any other rule.

removing these lines shouldn't have any effect.
blocks generated by a pool with this removed will be accepted by other nodes.


#12

... and then why i need this?

but you'd have to then form your own pool, get more hashpower than somewhere like suprnova.cc (over million h/s at last check).

I need at least a sufficient hash power to mine a block in solo mining... right?


#13

why do you need the founders block reward? you dont. its just.. manners?
by all means remove it.

yes, impossible without a pool given the world hashrate


#14

no, why i need a pool bigger than supernova?

really it seems out of reality that a pool has a chance to put a fee of 5% and then advertise it with that pool you can earn 20% more than with any other !!

I truly must believe that Toomin brothers do not take a higher gain of 25% for a gentleman agreement ??

although I think that developers and investors should be well paid, my personal opinion is that charge a fee of 20% is really unfair ...


#15

was more of a joke; you're not going to find many/any blocks at all unless you start approaching the level of hashpower present at this pool. for example coinmine (zec) has 1/10th the hashpower and is lucky to find one block out of every 30-60?

while i agree to some extent, everyone will have their own opinion. the bitcoin developers were offered employment (by blockstream) and everyone lost their shit basically. they would be working for free otherwise. people didnt seem to care about that.

feel free to setup a pool with code removed, can be done for cheap with amazon ec2. i havent seen an equihash module for unomp/mpos yet; although one certainly has to exist (given other pools can serve this algorithm).


#16

I don't know man but it helps the development team get funded without the need of an IOC. you gotta remember Dash, AKA Darkcoin has a superblock reward that goes to covers development that the foundation. I think 20% of each block is fair especially if innovations keep coming.


#17

... maybe i need a pool larger than suprnova because centralized mining? she has found 20 of the last 42 blocks ..

thanks for the kind and clear answer :slight_smile:


#18

between 1 and 1.5 million h/s and still not getting every block? yep i'd be pissed too :smiley:
no problems bro


#19

I agree that on this everyone has their own opinion ... mine is that tens of millions may be reasonable, hundreds are greed ...

however, do not think much the gentlemen's agreement story... it seems clear that most of the people here have to make money not support the open source way...

i am on it and work like a charme, no one problem in 2 days :wink:


#20

the value of z cash isn't always going to be this current valuation. so I think it's reasonable this coin could be less than $10 here in a few weeks, and might not reach the value again. and what you're talking about is a hard for which would be no good for this coin.