Nervos Network
Published in

Nervos Network

Announcing the 5th and Final Round of our Mining Competition: Stage 1

Thanks to our community for participating in the previous rounds of our mining competition! The fifth and final round will have several stages, each tied to our product releases, with no break during the round. Stage one will last for two weeks:

Total Reward: 12,000,000 CKB (mainnet tokens)
Version: v0.22.0 (note: our current CKB version is v0.21.0)
Start: 2019.10.05 6:00 (UTC) —UNIX Timestamp:1570255200
End: 2019.10.19 6:00 (UTC) —UNIX Timestamp:1571464800

How to participate

We will release testnet v0.22.0 in GitHub one hour before the competition, on Oct 5 at 5:00 UTC. All participants must download the latest version— note, you will only be able to participate in the mining competition using version v0.22.0 can

At 6:00(UTC) we will announce info in GitHub about how to generate the genesis block and release a version with the correct genesis block.

Nervos CKB now has the support of both mining pools and mining OS. You can check here to find helpful links to those tutorials. You can also check our docs and our updated miners info.

Reward rules

  • The final result will count all the main chain blocks during the competition period. Our consensus design uses two-step confirmation, thus block rewards will have several blocks’ delay. We will count all the main chain blocks reward—no need to consider the delay.
  • In CKB, the block reward contains four parts. To guarantee fairness, only base rewards will be calculated during the competition. In our consensus design, there are four parts of block rewards—base rewards, secondary rewards, commit rewards and proposal rewards. Because secondary rewards are related to state occupation, and commit rewards and proposal rewards are related to transaction, those rewards can potentially be manipulated. For this reason, secondary rewards, commit rewards and proposal rewards will not be counted in competition. Only base rewards will be counted. For more detail you can check our consensus RFC.
  • To receive mainnet tokens as a reward, addresses must have at least 1000 testnet base reward tokens. The native token CKByte represents state storage space on the Common Knowledge Base blockchain. A cell is the basic data structure in the blockchain. It requires 60 CKBytes to create a cell, so you must have more than 60 CKB mainnet token rewards, or we cannot issue the reward.
  • CKB token rewards will be sent to the corresponding address in the genesis block when mainnet launches(no lockup).
  • Due to uncertainties during our testnet, the final result will be calculated according to the proportion of base rewards each address mined. For example, during the competition, if there are a total of 10M tokens as a base reward—Alice’s address receives 1M tokens and can aso receive 1/10 of the total mainnet token rewards.
  • Following the competition, we will organize the data and update the results on our website.

Things to Note

  • This is stage one of the final round competition in a series. Rules may be updated.
  • In the previous round, some rewards are distributed to null address, which may be caused by entering the wrong Lock Args. So please make sure everything is correct when you are configuring.
  • CKB tokens rewards will be sent to the corresponding address when mainnet launches. Please keep your privkey safe to ensure you receive your reward.
  • Addresses for the same private key may be different on testnet and on mainnet due to difference in algorithm. Participants need to hold on to their private key to be able to claim rewards.
  • Participation in this event means that you have read and understood the competition terms.

Terms

Due to US regulation, US citizens and US entities are excluded in this competition.

  • Nervos Foundation reserves the right to change, amend and add new rules at any point during the competition and dis-qualify any participants who attempt to exploit, cheat or maliciously attack the test-net or competition. All decision made by the Nervos Team are final.
  • Participants will be responsible for any tax associated with rewards distributed.

References

Disclaimer

There might be significant risks involved in cryptocurrency related activities. You may lose all your investment. Tokens involved might have high volatility. Nervos foundation will not be liable for any potential loss financial or otherwise. Nervos foundation will not be liable for any loss financial or otherwise. Please exercise discretion when participating.

If you have any question, you are welcomed to post on Nervos Talk or one of our Telegram channels: Russian Chinese and English

--

--

--

The Nervos Network is a public blockchain ecosystem and collection of protocols aiming to solve the current challenges facing blockchains like Bitcoin and Ethereum today.

Recommended from Medium

Ripio Token Audit

Roo Protocol: A New Blockchain Infrastructure Protocol Focusing on NFT

GOOD NEWS FOR HOLDERS OF HOSE – HOH

$APECOIN — Too Big to Fail.

Interview of Dr.

The rapid rise of NFTs

Which Cryptocurrency Will Be The Next To Explode in 2022?

THE CRYPTOCURRENCY IN THE SQUID GAME GROWS BY 45,000 PERCENT IN THE FIRST FEW DAYS.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Nervos Network

Nervos Network

Official account for the Nervos Network.

More from Medium

Qtum Mainnet Staking Update

NUDES Token Lists on BigONE Exchange

Amasa AMA to be hosted by Idena on March 9, 2022

Partnership with OmniDex