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Qwertycoin Whitepaper
  • Cover Page
  • Credits
  • Index
  • Introduction
  • Vision
    • Vision
    • Blockchain Development Roadmap
    • Exchange Listing and Pricing Strategies
  • Consensus
    • [Outdated] CryptoNote Proof of Work
      • CryptoNote block reward scheme calculation
        • An example of CryptoNote block reward scheme manipulation
    • Egalitarian Proof of Work (EPoW)
      • Introduction of EPoW block reward algorithm based on Consistency
        • An example of how QWC prevented CryptoNote block reward manipulation
      • Difficulty Algorithm - CIMA (Confidence Interval Moving Average)
        • Testnet Result
      • Difficulty Algorithm - CLIF (Critical Level Impediment Failsafe)
        • Testnet Result
      • Do you want to make EPoW more egalitarian by switching mining algorithm?
    • Transition from PoW to PoS
    • Egalitarian Proof of Stake (EPoS) - Hybrid PoS/dPoS
      • Sharding
    • Egalitarian Proof of Service (EPoSe) - Hybrid EPoW/EPoS
  • Scalability
    • Genesis Reference Block (GRB)
    • Consolidation
    • Pruning
  • Blockchain Governance
    • FATF Compliance
    • 10% Governance Fee
    • Community Voting
  • DeFi Tranasactions
    • Time Locked Transaction (TLT)
    • Long Term Staking (LTS)
    • On-Chain Trade (OCT)
  • Smart Contracts
    • Multi-Signature
    • NFT(Non Fungible Token)
  • Features
    • LMDB (Lightening Memory Mapped Database)
  • Future Directions
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  1. Consensus

[Outdated] CryptoNote Proof of Work

Last Updated 2020-07-04

PreviousExchange Listing and Pricing StrategiesNextCryptoNote block reward scheme calculation

Last updated 4 years ago

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QWC blockchain project is an open-source project and is driven by community members. Anyone can join and support the network and get coins as compensation to their support through mining.

CryptoNote Technology V2.0 has a built-in block reward system called ‘emission rate’. It is a shape of log function and, because of its original design, QWC block rewards will reduce by each block and eventually reach a point called ‘tail emission’.

QWC has an emission factor of 19. Please refer to the below graphs to see how block rewards are reduced over time.

The default equation for calculating block rewards for CryptoNote is as follows:

Max. number of coins = (2^64) - 1, Number of decimals = 8, Emission factor = 19

Block Reward (or Base Reward)

= {((2^64) -1) - (already_generated_coins*10^(8))}*2^(-19)*10^(-8)

[Figure 1. Total QWC in Circulation per Bloch Height]

[Figure 2. Total QWC in Circulation per Date]

[Figure 3. Block Reward Reduction per Block Height]

[Figure 4. Block Reward Reduction per Date]

  • History of Mining Algorithm Changes

Qwertycoin core team is committed to reflecting the decisions of the community regarding major changes in the future through the community voting system.

Make sure to create a wallet address before you start mining QWC.

Please go to our explorer page () and select a pool to mine from. Each pool provides information and a guide to set up for mining. Users can also mine with CPU using a built-in mining feature in QWC Desktop Wallet Software.

https://explorer.qwertycoin.org/#pools
Click to enlarge the table