BIUT team upgrades two versions PC-Miner and make some adjustments on V1.2.66 and receiving many requirements about the BIU output from the Chinese Community. The followings are the details for the explantation of upgrade.
First of all, BIU output will be adjusted every three months(One phase) depends on the demands of the whole main net(Refer to the white paper), this is according to the economic model of the public chain, it is unmendable. The following versions will be automatically executed.
Secondly, The economic model of BIU is different from Bitcoin, Which halves in 4 years and the attendants take advantage of joining early. In the BIU economic model, one half of the BIU output decided by the users’ demands and the remaining halve in four years. It meets the tendency of blockchain industry and also benefits the sustainable development and fair environment for public chain
The last one, The BIU output may be higher or lower in the next phase(after three months), it depends on the development of the application. The BIU output will increase even higher If the upcoming applications run smoothly.
BIUT Public chain was developed for about two and a half year, it launches only about 6 months and currently at the early stage. Therefore, the Chinese community promoted the ‘Great Navigation Plan’ for PC-Miner. There are multiple parties that take part in mining. We need to make adjustments according to the rule and code. During the next stage, we will take the advice provided by the main participants and the Chinese community into considerations to make PC-Miner better.
The BIU output of every three months was written in the white paper and not adjustable by the technical team. Our technical team is working on the application(suppose to launch on season 2), we apologize for the inconvenience that the constantly main net upgrading caused.
BIU output adjustments formula of every three months(The more BIUT transactions volume, the more BIU will be mined.)
The second-phase calculation adjustment:
The real transactions amount in the first-phase= ((550307–240250*2)/7)*3=29917.28571428571
Output adjustment: Square root of First-phase BIU total transaction volume/0-phase BIU transaction volume
= Square root of (29917.28571428571 / 10000000))
= 0.05469643
BIU output of next phase=Previous phase output* Output adjustment
=6.94445*0.05469643
=0.3798
For example: Lock up 100000 BIUT, each block contains 6.94445 in the previous phase. Then each block contains 0.3798 BIU in the next phase.
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