From b7d355481dad2f8cadeb5b466726366afe4a51c9 Mon Sep 17 00:00:00 2001 From: M Glasgow Date: Wed, 15 Nov 2023 11:24:13 +0000 Subject: [PATCH] small text fixes and reorg to emission --- docs/mining/emission.md | 19 ++++++++++--------- 1 file changed, 10 insertions(+), 9 deletions(-) diff --git a/docs/mining/emission.md b/docs/mining/emission.md index 87252b36..d9188bd1 100644 --- a/docs/mining/emission.md +++ b/docs/mining/emission.md @@ -1,32 +1,33 @@ # Ergo Emission Schedule -Ergo's journey, which began in 2017, saw the successful launch of its mainnet in July 2019. Prior to the mainnet, the Ergo-First-Year-Token (EFYT) was in circulation. +Ergo's journey, which began in 2017, saw the successful launch of its mainnet in July 2019. Prior to the mainnet, '*Ergo-First-Year-Token*' (EFYT) was in circulation and swapped with the treasury on launch. -For detailed information on EFYT, including its tokenomics and distribution, please refer to [this page](efyt.md). +For comprehensive insights into EFYT, including its tokenomics and distribution strategy, please visit [this page](efyt.md). ## Total Supply and Allocation -Ergo's total supply is capped at **97,739,925 ERGs**, distributed as follows: +Ergo's total supply is capped at **97,739,925 ERGs** and distributed as follows: - **Genesis State Inclusions**: Includes 1 ERG for proof-of-no-premine and 4,330,791.5 ERGs for the [Foundation Treasury](https://explorer.ergoplatform.com/en/addresses/4L1ktFSzm3SH1UioDuUf5hyaraHird4D2dEACwQ1qHGjSKtA6KaNvSzRCZXZGf9jkfNAEC1SrYaZmCuvb2BKiXk5zW9xuvrXFT7FdNe2KqbymiZvo5UQLAm5jQY8ZBRhTZ4AFtZa1UF5nd4aofwPiL7YkJuyiL5hDHMZL1ZnyL746tHmRYMjAhCgE7d698dRhkdSeVy). - **Miner Rewards**: 93,409,132 ERGs, designated for 2,080,800 blocks, as per the emission schedule ([Miner Reward Box](https://explorer.ergoplatform.com/en/addresses/2Z4YBkDsDvQj8BX7xiySFewjitqp2ge9c99jfes2whbtKitZTxdBYqbrVZUvZvKv6aqn9by4kp3LE1c26LCyosFnVnm6b6U1JYvWpYmL2ZnixJbXLjWAWuBThV1D6dLpqZJYQHYDznJCk49g5TUiS4q8khpag2aNmHwREV7JSsypHdHLgJT7MGaw51aJfNubyzSKxZ4AJXFS27EfXwyCLzW1K6GVqwkJtCoPvrcLqmqwacAWJPkmh78nke9H4oT88XmSbRt2n9aWZjosiZCafZ4osUDxmZcc5QVEeTWn8drSraY3eFKe8Mu9MSCcVU)). -The Treasury's funds are governed by a smart contract, that released ERGs gradually over the first 2.5 years, without exceeding 10% of the circulating supply. +The Treasury's funds were governed by a smart contract that released ERGs gradually over the first 2.5 years, without exceeding 10% of the circulating supply. ## Mining and Emission Duration Ergo's block reward decreases by 3 ERG per block every quarter until 2026 and stabilizes at 3 ERG per block thereafter. The mining process is projected to continue until around 2045, extended from the original 2027 timeline with the passage of the [EIP27](eip27.md) soft-fork. For a visual overview, see the emission schedule on [ergo.watch](https://ergo.watch/emission). -## Proof of No Premine - -Ergo embeds Bitcoin and Ethereum block hashes and headlines from The Guardian, Vedomosti, and Xinhua in its pre-genesis state for transparency. This is detailed in the [mainnet.conf](https://github.com/ergoplatform/ergo/blob/1935c95560a30b19cdb52c1a291e8a389ba63c97/src/main/resources/mainnet.conf#L11) file. - ## Ergo Foundation -The Ergo Foundation focuses on protocol development, ecosystem growth, promoting Ergo's use for social good, supporting decentralized infrastructure, and upholding privacy rights. The Foundation's Treasury, receiving 4.43% of emitted ERGs, funds various initiatives. More information is in the [transparency report](ergo-foundation-2022.md). +The Ergo Foundation is dedicated to protocol development, ecosystem growth, promoting the use of Ergo for social good, supporting decentralized infrastructure, and upholding privacy rights. The Foundation's Treasury, which received 4.43% of the total ERG emission, is utilized to support a wide range of initiatives. For more detailed information, refer to the [transparency report](ergo-foundation-2022.md). ## Unique Aspects of Ergo's Emission +### Proof of No Premine + +Ergo includes Bitcoin and Ethereum block hashes and headlines from The Guardian, Vedomosti, and Xinhua in its pre-genesis state for verification purposes. This is detailed in the [mainnet.conf](https://github.com/ergoplatform/ergo/blob/1935c95560a30b19cdb52c1a291e8a389ba63c97/src/main/resources/mainnet.conf#L11) file. + + ### Verification Process Ergo's emission logic underwent rigorous verification using the Stainless formal verification tool, ensuring accuracy and validity. Details can be found in [this code section](https://github.com/ScorexFoundation/sigmastate-interpreter/pull/580/files#diff-18d3c92c2086c9ddd9b462191b55cf5e8438a29b0e786c6ab541f7def8330808).