HomeMining Video TutorialsMASSIVE ERGO UPDATE!! EIP27 Is Dropping

MASSIVE ERGO UPDATE!! EIP27 Is Dropping

-



ERGO UPDATE EIP27
In this video I check out ERGO which has some main adjustments coming to its Tokenomics to increase its emissions schedule.

Article: https://ergoplatform.org/en/blog/Ergos-Reemission-Vote-EIP27-A-Path-to-Sustained-Growth/
More On EIP-27:…

11 COMMENTS

  1. This is a interesting EIP. So if they are taking the existing 63 ERG block reward and pulling 12 ERG out for the remissions contract and making it 51 ERG. That's a roughly 19% drop in rewards pay out per block to miners beginning tomorrow night. And each 3 months after when the block rewards drop by another 3 ERG but the same 12 ERG is sent to the remissions contract that percentage increases accordingly. So we take the hit now and going forward to extend the mining life by 17 years. The guys just looking to dump for profit immediately wont be happy by the drop in payouts now, but the long term miners will be happier long term. So the easy way to do the math on this is they are dropping block rewards by 12 ERG to save for future payouts until it gets to less then 15 ERG block sizes then they just take 3 ERG for the remissions contract.

  2. Kudos that they realize the value of proof of work. Extending emissions out an additional 17 years by the outlined method is far better than the alternative of minting more than the initially proposed 97,739,925 ERG. Still, reducing block rewards every 3 months, even without taking into account the additional ERG that will be siphoned off, works only as long as the coin remains profitable to mine, especially when compared to other minable coins. The expectation is that ERG will generally increase in value over time, particularly since there is a finite number to be minted. The current and future bear markets may wreak havoc on those expectations. In fact, I have a large Nvidia rig that is mining ERG now but other crypto is looking more attractive. The reduced block rewards starting tomorrow may be enough to warrant a change to another crypto with that rig.

  3. When I looked at the Ergo Whitepaper a year or two ago, the couple-years emission schedule was baffling to me. I can't say I supported EIP27, but it's probably the right thing to do. Nobody would still be mining it for the 0.02 fee split 5,000 ways.

    Ergo originally was solo mining only with Autolykos v1, now it's (obviously) pool mineable with Autolykos v2, but they haven't changed their difficulty algorithm. A few days ago Ergo was more profitable (more so, with NETA) to mine than ETH and the hashrate jumped to ~20 TH/s, so now the block times are 22 seconds longer than they're supposed to be (2min) and the difficulty is going to be screwed up for a week and a half until it adjusts down for the 15 TH/s that's actually still on the network punishing anyone who sticks around.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Avalanche price analysis: AVAX consolidates at $12.94

The Avalanche price analysis is bullish for today as the price is rising after a bearish spell that lasted for three days. Overall, AVAX...

Bitcoin mining revenue lowest in two years, hash rate on the decline

The total Bitcoin mining revenue β€” block rewards and transaction fees β€” in U.S. dollars fell down to $11.67 million, a number last...

Bitcoin, Ethereum, Polkadot, and Solana Daily Price Analyses – 26 November Roundup

The global crypto market has seen a negative trend once again as the fluctuations continue. The recent changes for Bitcoin, Ethereum, and some others...

It’s time for crypto fans to stop supporting cults of personality

From Sam Bankman-Fried to Bitboy, cryptocurrency fans have been too quick to support divas who gained notoriety on social media. It's a phenomenon...

Most Popular

spot_img