Updated Notice of DCR Voting
Previously DCR community raised a vote for block reward subsidy split from current PoW/PoS 60%/30% to 10%/80%. Now the vote has been passed and the split will become effective at around May 8th. Here are some details about the vote.
1. According to the information published earlier, the DCR upgrade requires 95% of PoW nodes and 75% of PoS nodes to be upgraded to v1.7.0.
2. After enough nodes are upgraded to the latest version, the DCR community will start a voting with a term of 8,064 blocks.
There are three options of Abstain, Support and Opposition in this vote, and those who participate in the vote can choose the corresponding option according to their own will.
After 8,064 blocks, all full nodes participating in the network will automatically activate the new rules on the first block.
1. For now, the number of PoW and PoS nodes have all reached the standard, and the locking period of 8,064 blocks has also started.
The results of the vote were:
Support: 4730 votes (58.66%)
Opposition: 3 votes (0.03%)
Abstain: 3331 votes (41.30%)
In this round of voting, only support and opposition are counted, and the final approval rating is 99.94%.
The status of voting can be viewed at:
The new rules will be activated in approximately 27 days (7,689 blocks), at the block height of 657,280, that is approximately May 8th.
FYI, the current block height is: 649,580 (recorded at 11:00 on April 11, 2022 UTC)
After the new rules take effect, DCR’s PoW mining revenue will be reduced from 60% to 10%.
According to the current static income and currency price estimates, the revenue per T will be reduced to about $0.06.
Under these circumstance, the break-even price may change greatly.
The calculation formula of break-even price:
Break-even price = power (kW) * electricity price * 24 / DCR daily income
Taking the Antminer DR5 as an example, the rated hashrate is 35TH/s, the rated power is 1650W, and take the electricity price for $0.03kw/h
Current break-even price for Antminer DR5 = 1.65 * 0.03 * 24 / 0.22675205 = $5.24
Break-even price for Antminer DR5 afterwards = 1.65 * 0.03 * 24 / 0.03779201 = $31.44
Due to the significant reduction in mining revenue, it is predicted that a number of miners with high power consumption will be shut down in the future, meanwhile the difficulty will be significantly reduced. Therefore, the actual break-even price will be much lower than the result calculated above.
You can also check the information of DCR miners and their break-even price at any time at the bottom of Poolin’s official website www.poolin.com.
If you have more questions, please feel free to contact us via telegram:
Best regards,
Poolin Support
