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Our proactive approach minimizes communication delays, improves uncle rates, and ensures fair distribution of rewards.
Efficient Communication and Improved Uncle Rates: To minimize communication delays and enhance performance, the Rails Network client proactively sends job updates to mining pools (validators) as soon as they appear. This proactive approach eliminates the need for the pool software to continuously ping the RPC node, such as in the case of Miningcore's 0.5s intervals. Consequently, communication delays between the node/blockchain client and the pool software are significantly reduced, resulting in improved uncle rates.
Reward Mechanism: To ensure fair rewards, the mining pool responsible for mining the last block receives a static block reward of STEAMX. The distribution of pool rewards follows the Pay-Per-Last-N-Shares (PPLNS) method [*]. However, to prevent pool hopping, rewards are applied only after 100 blocks since joining the pool, which typically amounts to around 5 minutes.
Balanced Reward Introductions: The Rails Network carefully manages the introduction of additional STEAMX into the system through mining rewards. The number of additional tokens introduced annually ranges from 1-3% of the total initial supply [*]. The specific percentage is subject to the token economy and will be determined before launch. The formula used to calculate the reward amount is:
Reward (one mining + one staking) = [Total (Initial) Supply] * 0.01-0.03 (1-3%) / 31,556,952 (seconds in 365.2425 days) * Avg. Block Time
For example, for a total initial supply of 165,000,000 tokens and a 3-second average block time, the reward on the Rails Network would range approximately between 0.5249 tokens and 1.5747 tokens. These figures represent the calculated rewards based on the specified parameters. However, it is important to note that the exact reward percentage and calculations are subject to potential adjustments before the launch, ensuring optimal and fair distribution of rewards. As the Rails Network evolves, the reward mechanism will be fine-tuned to maintain a balanced and incentivized ecosystem for all participants.