Introducing Block Rewards for miners! (Sept 2015)
This was just a quick post announcing mining rewards in the blockchain. I’m loving the picture i used above here as well…seems kind of fitting!
Just wanted to give you all a heads up — We’re introducing block rewards for miners starting on 15th October, so get your miners ready for us! We wanted to give you plenty of warning so that you have time to update or download the latest version of the chain here.
The RibbitRewards blockchain uses dual-algo POW (Proof of Work) and has a one minute block target.
The block reward is 100M RibbitRewards per year, or 190 RibbitRewards per block with a protocol targeted average of one block discovered per one minute. It’s a fixed linear supply inflation model. So, although 100M new RibbitRewards can be discovered by miners every year, the inflation rate will decline over time as the total supply increases.
Let us know any questions you might have and we’ll get to it!
Happy Mining, and thanks for being part of our community!
Blog post by @iamseandennis