Good day TERA community!
We want to make an important announcement about upcoming changes inside TERA blockchain in specific and project in general
From #32 000 000 block (aprx. in 5 hours) TERA blockchain will activate new emission model.
It will lead to drastically lower emission per block.
Protocol will make a slow decrease, without huge dump in emission.
How we came to this step and why implementing it ?
Year ago, in the beginning of TERA project there was no GPU resistant PoW algorithm inside.
Even if TERA project was designed as mass adoption network, there were some big GPU hashing power,
which came inside our blockchain and mine with 90% of summary hashing power because CPU mining can’t be equal with GPU.
TERA developers team create an absolutely unique algorithm, GPU & FPGA & ASIC resistance — TeraHash.
TeraHash was implemented into October 2018. It is designed in a way, there almost doesn’t matter how much operations could 1 machine provide, it will be nearly equal compare to other machine.
More information about TeraHash algorithm: https://docs.google.com/document/d/18DtASGhrbRwXCAkQR1hQG0lVdrStp4CgA-pd6hicwfo/edit
As a result of TeraHash implementation, blockchain become decentralized once again, but the efficiency of single mining point (CPU+RAM) drastically increases in 100%!
TERA project team, after. math calculation and network analysis, came to conclusion that initial block reward model __not suitable__ with TERAHASH.
To stabilize this situation and fix the network in way, there is mining will not stop in 2–5 years already (initial average PoW time — 100 years) team start a work on new math model and network update.
Implementation of economical soft work, which will decrease block reward for miners and stabilize economical model of the project in the middle turn.
You can calculate how exactly block reward will change from block #32 000 000 here: https://terafoundation.org/emission.html
New economical model purpose is TERA market stabilization to provide more possibilities to integrate us in new big partnerships, exchanges and promote our Dapps for cryptocurrency world.