ZIP - Changing Zcash supply curve to 3% yearly after 2020 halving

Community Collaborations protocol
85

@noamchom, to make this easier, I developed an itty-bitty little shell script for you to run on your node.

@daira, since your attention has already been requested on this thread, I ask that you please review the following to see if does what it says on the tin, without any evilness (muahahaha!). Thanks.

Dependencies: zcash-cli (a part of the package for the Zcash reference node, zcashd), and jq.

#!/bin/sh

# countzec.sh
#
# A simple way to check the current Zcash supply.
#
# By nullius <nullius@nym.zone>, an authentic Cypherpunk.
# PGP: 0xC2E91CD74A4C57A105F6C21B5A00591B2F307E0C
#
# Cypherpunks anti-License. http://cypherspace.org/CPL/
#
# Except that it is FORBIDDEN BY LAW to mix this with with
# any source code licensed under the GPL, AGPL, or BOSL.
#
# (That is just a way to FUD the status of the following public-domain
# code, for the purpose of encouraging people to stay anonymous
# and ignore all software licenses.  It is the Cypherpunk way.)
#
# The motive for this code snippet:
#
# https://forum.zcashcommunity.com/t/zip-changing-zcash-supply-curve-to-3-yearly-after-2020-halving/34894/81
#
# BUG:  The two RPC queries together are not atomic.  If a block
# were to arrive at exactly the wrong instant, the following could
# give a wrong answer.

{ zcash-cli getblockchaininfo ; zcash-cli gettxoutsetinfo ; } | \
	jq -se '(reduce .[0].valuePools[].chainValue as $zec (0.0; . + $zec)) + .[1].total_amount'

countzec.sh.asc: Always verify digital signatures!

-----BEGIN PGP SIGNATURE-----

iHUEABYKAB0WIQSNOMR84IlYpr/EF5vEJ5MVn575SQUCYt9pgAAKCRDEJ5MVn575
SbdWAQD8ojC/00RnDWi05thxcWifH2jJ7HNfmwRMwqhUULGN5QD+LXYMVI5NYa9t
WkBP6rkxom++1i7VFlcUsdqZeiAWjAM=
=7Eqb
-----END PGP SIGNATURE-----
2 Likes
86

Zchain - Zcash Blockchain Explorer & API

Sorry to span a DM and a thread response. This Zcash resource is showing what you would call, an incorrect circulating supply also.

Are there people getting paid in the Zcash ecosystem (ECC, ZF, or ZCG) who do things like Growth, Outreach, and Education, who could spend a few minutes to write nice emails to ask that webpages cease and desist from pushing a ZEC supply misinformation campaign?

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Sprout 28065.27842336
Sapling 785491.7046616
Orchard 10030.49400917
sum 12701812.6648530
Marketcap @ $53.80 $683,357,521.37
1 Like
88

This is a completely wrong use of the term hyperinflation, in which inflation is not only high but out of control.
Zcash’ supply inflation is perfectly under control of its designed emission.
Even without any halvings, the emission is disinflationary, i.e. the yearly supply inflation steadily decreasing toward zero. The halvings further accelerate the convergence to zero.

7 Likes
89

This thread should be closed tbh. Most of the community appear to embrace the radical (in relative crypto terms) inflation schedule that we’ve lived under since launch (the copy-paste of BTC emission back in 2016), and ECC has acknowledged that nothing will change until either during or after the transition to proof of stake deploys (which is 4-5 years out).

By that point in time the vast majority of coins will already be emitted from PoW miners and tinkering with the emission rate of the last ~2-3 million coins will not be worth the energy to debate and THEN attempt a technical protocol layer upgrade for.

Does anyone disagree with this thinking? The time was yesterday to have this debate

Aug 2023, Update: Proof of stake is 3-4 years out