BitShares Forum
Main => Technical Support => Topic started by: Samupaha on March 06, 2016, 09:47:34 am
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How much witnesses get paid?
Cryptofresh says (http://cryptofresh.com/reserve): "Witness budget: 1,800 BTS per hour". Does that mean 1800 BTS per hour is divided for all witnesses, so that more we have witnesses, less is the salary of one witness?
I need to know this so that I can tell what people can expect to earn if they become witnesses.
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yes .. the whole hourly pay is divided among all witnesses ..
If there are more witnesses, everyone gets paid less .. and vice versa ..
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Currently the Committee has set the Blockchain parameter for 1.5BTS to be paid to the witness producing a block. Therefore, with 3 second block interval, the maximum hourly payment from the Reserve Pool to the Active Witnesses is 1800BTS. The amount a given witness will receive during that hour considers the total witnesses and successful block production.
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Currently the Committee has set the Blockchain parameter for 1.5BTS to be paid to the witness producing a block. Therefore, with 3 second block interval, the maximum hourly payment from the Reserve Pool to the Active Witnesses is 1800BTS. The amount a given witness will receive during that hour considers the total witnesses and successful block production.
Yeah, thanks, this is something how I remembered it works. The text at Cryptofresh was just a little bit misleading.
Let's make a calculation to see if I've understood everything right...
There is currently 23 witnesses, so pay per hour for one witness is 1800/23=78.26 BTS
Per day: 1800/23*24=1878.26 BTS
Per month: 1800/23*24*30=56347.82 BTS
With current price ($0.004335) that makes about 245 USD per month.
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Here is better formula:
[block reward] * (60 / [block interval time]) * 60 * 24 * 30 / [total number of witnesses] = [witness salary for one month]
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Here is better formula:
[block reward] * (60 / [block interval time]) * 60 * 24 * 30 / [total number of witnesses] = [witness salary for one month]
Almost correct. Due to maintenance intervals, currently there are 3 less blocks produced in every hour.
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Here is better formula:
[block reward] * (60 / [block interval time]) * 60 * 24 * 30 / [total number of witnesses] = [witness salary for one month]
Almost correct. Due to maintenance intervals, currently there are 3 less blocks produced in every hour.
Is the '3 blocks' value hardcoded? And maintenance takes nowhere near that long in reality, right?
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Here is better formula:
[block reward] * (60 / [block interval time]) * 60 * 24 * 30 / [total number of witnesses] = [witness salary for one month]
Almost correct. Due to maintenance intervals, currently there are 3 less blocks produced in every hour.
Is the '3 blocks' value hardcoded? And maintenance takes nowhere near that long in reality, right?
Correct, maintenance takes a fraction of a second (today).
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Here is better formula:
[block reward] * (60 / [block interval time]) * 60 * 24 * 30 / [total number of witnesses] = [witness salary for one month]
Almost correct. Due to maintenance intervals, currently there are 3 less blocks produced in every hour.
Is the '3 blocks' value hardcoded? And maintenance takes nowhere near that long in reality, right?
It's a parameter which can be adjusted by the committee
get_global_properties
{
...
"block_interval": 3,
"maintenance_interval": 3600,
"maintenance_skip_slots": 3,
...