Author Topic: $5000 Bounty - Dividend Paying ProtoShares  (Read 9279 times)

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Offline bytemaster

BlockReward =  (Subsidy + Fees)/2

DIVIDEND_PER_COIN =  BlockReward / MONEY_SUPPLY  ->  this should be a 64.64 fixed point number because it is *VERY SMALL* 

The balance of an output =   (SUM DIVIDEND_PER_COIN for last COIN_AGE blocks) * output amount
Automatic fees for an output =  (SUM DIVIDEND_PER_COIN for MIN(120,COIN_AGE) blocks) * output amount
« Last Edit: November 13, 2013, 06:47:55 pm by bytemaster »
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Offline barwizi

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Please explain the following,

1) Are dividends part of mineable TOTAL_MONEY_SUPPLY or they can surpass?

Number 3 is basically a modified block explorer that displays the relevant information
Number 4 is a calculator

give me a link to your proof of concept.

Dividends are just a split of mining rewards.  When mining rewards are still issuing new currency half of the new currency is paid as dividends.  When mining rewards are 100% from trx fees, then the money supply no longer grows.

https://github.com/InvictusInnovations/BitShares/tree/master/src/blockchain

https://github.com/InvictusInnovations/BitShares/blob/master/src/blockchain/blockchain_db.cpp

so block reward is actually mining reward+ dividends+ tx fees?

if that is the case, 2 factor reward system would solve that.

Say total intended reward is 50 bez tx fees.
we can say
Code: [Select]
include dividends.h

int64 static GetBlockValue(int nHeight, int64 nFees, int64 Dividends)
{
    int64 nSubsidy = 50/2 * COIN;

    return nSubsidy + nFees + Dividends;
}

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Offline bytemaster

Please explain the following,

1) Are dividends part of mineable TOTAL_MONEY_SUPPLY or they can surpass?

Number 3 is basically a modified block explorer that displays the relevant information
Number 4 is a calculator

give me a link to your proof of concept.

Dividends are just a split of mining rewards.  When mining rewards are still issuing new currency half of the new currency is paid as dividends.  When mining rewards are 100% from trx fees, then the money supply no longer grows.

https://github.com/InvictusInnovations/BitShares/tree/master/src/blockchain

https://github.com/InvictusInnovations/BitShares/blob/master/src/blockchain/blockchain_db.cpp


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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline barwizi

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Please explain the following,

1) Are dividends part of mineable TOTAL_MONEY_SUPPLY or they can surpass?

Number 3 is basically a modified block explorer that displays the relevant information
Number 4 is a calculator

give me a link to your proof of concept.
--Bar--  PiNEJGUv4AZVZkLuF6hV4xwbYTRp5etWWJ

The magical land of crypto, no freebies people.

Offline bytemaster

I am looking for talented developers to help incrementally build BitShares style features on top of the ProtoShares code base.  The first feature is to implement a dividend paying crypto-currency.  This will be the foundation for many different types of DAC.

BitShares pays dividends according to the following algorithm below:

1) The total money supply is tracked as MONEY_SUPPLY
2) 50% of mining rewards + transaction fees from each block are paid as DIVIDENDS
3) A dividend accumulation table is maintained that includes the total dividends per Satoshi paid for every block for the past year.  Each block adds DIVIDENDS/MONEY_SUPPLY to every entry in the accumulation table.   This table will require 128 bit 64.64 fixed-point precision so that dust can accumulate properly.
4) The dividends due a particular output can be calculated by looking up the coin-age in this dividend accumulation table and these dividends are part of the input value of the transaction when the output is spent.  All dividends except the past 100 blocks are included.   Dividends for the past 100 blocks are paid as part of the transaction fee because these dividends could be lost if there is a chain reorganization.

In addition to updating the block chain, the bitcoin wallet would have to be updated to reflect the current balance along with all dividends. 

I have already implemented a proof-of-concept block chain based upon this dividend system, but am looking for a developer who can integrate such a system on top of the Bitcoin code base.

Bounty to be paid in BTC at the BitStamp price as of the time of payment.
« Last Edit: November 08, 2013, 02:36:09 am by Amazon »
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.