NIX Platform: New Inflation Schedule on Transition to Proof of Stake

in nixplatform •  3 months ago
Hello fellow Steemians,

I'm here with yet another update and exciting news for NIX. I recently wrote about the upcoming switch from PoW to PoS and the current state of the testnet in case you want to read up more on the subject. With the most recent announcement, NIX published their aims to

  • drastically improve the future economy
  • significantly reduce the block rewards
  • regulate inflation with a 40 year plan
  • reduce the maximum supply
  • ...and more

blockchain interoperability
image courtesy of pixabay


Changes to Block Rewards

Following the transition to Proof of Stake, the Lyra2REv2 Proof of Work algorithm becomes obsolete and miners will no longer get a share of newly generated blocks. Thus, the overall block reward will be lowered and a dynamic staking reward introduced. The old and new values in comparison:

TotalGhost NodesDev FundMiningStakingMax Supply
Old64.00017.924.4841.60175.0m
New12.108.4421.2802.35~ (dynamic)102.5m


As the newly generated NIX coming into circulation decreases by a considerable margin (over 80%) along with a much reduced max supply, it would not be unreasonable to expect the coin's value to rise accordingly. Hand in hand with the revised block rewards, the team published their inflation plan.


40 Year Inflation Plan

As already mentioned in the previous section, the inflation schedule can be viewed here. I will also display the table here for your viewing convenience.

YearStaking InflationGhost Node InflationDevelopment Fund InflationTotal Circulating Supply
1600,0002,201,134336,38443,156,158
2647,3472,201,134336,38446,360,384
3695,4052,201,134336,38449,612,308
4744,1841,110,067168,19251,634,752
5774,5211,110,167168,19253,687,533
10913,850555,03384,09662,476,359
151,019,274277,51642,04869,290,440
201,112,94069,37910,51275,388,833
251,203,79434,6895,25681,546,314
301,298,98417,3442,62887,993,529
351,400,3198,6721,31494,856,073
401,508,9462,168328102,210,160

Parting Words

As always, the NIX team continues to work their hardest and deliver on time. The community is very excited and should you want to join, you can do so by following this Discord invite link. Should you have any questions regarding this article, I am very happy to answer your comments.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Always interesting to follow you back... Thanks for the updates

·

Thanks for the kind words, happy to provide.

·
·

The pleasure's all mine .

Congratulations @dacx! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the number of comments

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.

Support SteemitBoard's project! Vote for its witness and get one more award!

You have recieved a free upvote from minnowpond, Send 0.1 -> 10 SBD with your post url as the memo to recieve an upvote from up to 100 accounts!

@dacx purchased a 71.43% vote from @promobot on this post.

*If you disagree with the reward or content of this post you can purchase a reversal of this vote by using our curation interface http://promovotes.com

Venezuela aca presente! Me interesa aprender e informarme. Quien apoya con un voto.

·

Muy buen articulo muy instructivo y fácil de entender sigue haciendo ese tipo de post

·

If that is a sincere comment, thank you!

Great article thanks for sharing. I write about projects myself if you would like to check out my work and follow me.

·

You haven't posted anything recently. How about you check out https://nixplatform.io/ and write an article? I'd be happy to read it.

·
·

I only write when I have a found a project which interests me. As when I prepare to invest I like to do my due diligence. My research becomes my article and they take a while to compile. I am searching for my next ICO to talk about now. I will check out NIX Platform and if captures my attention, I will start research and an article. Thanks

·
·
·

Excellent, I'll drop you a follow and will see what you come up with.

·
·
·
·

Excellent, I'll drop
You a follow and will see
What you come up with.

                 - dacx


I'm a bot. I detect haiku.

I am a bit new in steem and this tale has helped me to apprehend a chunk like this platform was earlier than, I simply noticed all the help you give to the users because I have been working on it for a few days now could be high-quality, I would love someday to be one of these folks that obtain your assist, I will constantly be helping you within the comments, my buddy, I am hoping you have got a pleasant afternoon.

Great article thanks for sharing the news and keep up the great content.

·

Great article thanks
For sharing the news and keep
Up the great content.

                 - pheonixdown-dee


I'm a bot. I detect haiku.

·

Thank you. Will definitely do.

Hey good to read this article

I think this article is fantastic .. Can you give me your opinion of my article knowing that I am a beginner?

·

my opinion can be change now.

·
·

What do you mean exactly?

·

Do you mean your 15-ways-to-feel-more-powerful-in-10-minutes article? I think the content doesn't make sense (it's what you can do in 10 mins and you start off with waking up earlier and other things you can't complete in that time span). You could also improve on your formatting as the ordered list is not displayed correctly.

Let me know if you need any more help.

@dacx I'm new here sir.....
My name is Ikedi Kingsley Nero, I will want to be part of your community and also to know more about your article .... Thank you very much sir

·

Hey there!
What would you like to know?

·
·

I think, I will start by knowing what the community is all about and it's purpose

·
·
·

If you are talking about NIX, you can find more information here: https://nixplatform.io/

·
·
·
·

OK Thanks

Thanks.....

Congratulation dacx very nice your postbutterflies-3524415__340.jpg

·

Thank you for the butterflies I guess! :-)

Thanks for the update Sir :) Really interesting content.

·

Congratulations @dacx!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 5 with $ 307,2

Hi @dacx!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 1.143 which ranks you at #46408 across all Steem accounts.
Your rank has dropped 53 places in the last three days (old rank 46355).

In our last Algorithmic Curation Round, consisting of 450 contributions, your post is ranked at #37.

Evaluation of your UA score:
  • Only a few people are following you, try to convince more people with good work.
  • The readers appreciate your great work!
  • Great user engagement! You rock!

Feel free to join our @steem-ua Discord server

THANKS GO CRYPTO GO!!!!

Great article dacx. A lot of information to process

·

Glad you liked it. The changes will be live on mainnet with block 53000. :-)

Thanks for giving me such a beatiful knowledge

very nice to know this

Congratulations @dacx! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the total payout received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemitBoard - Witness Update
SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.

Support SteemitBoard's project! Vote for its witness and get one more award!