Quora Onboarding Initiative. Q- What new quantity of the cryptocurrency Steem is created each day?
Q- What new quantity of the cryptocurrency Steem is created each day?
In order to calculate the quantity of STEEM that is being created each day, it is necessary to have the data like inflation, the total virtual supply of STEEM, the number of blocks produced per year, etc.
The inflation figure as obtained from Steemdb.com is 8.3353%
Total virtual supply means (current supply+all STEEM Power+the total supply of SBD in STEEM). The approximate figure can be obtained from Steemd.com.
Total virtual supply= 370948748
In Steem Blockchain, one block is produced every 3 seconds.
Number of blocks produced per year= (60 * 60 * 24 * 365)/3= 10512000
Inflation= 8.3353 %= 0.083353
New STEEM that is being created per block= (Virtual Supply * Inflation)/(Number of blocks produced per year)
=> New STEEM created per block= (370948748 * 0.083353)/10512000= 2.94 STEEM
=> New STEEM created per day= (60/3) * 60 * 24 * (2.94)= 84672 STEEM
- For PoB(Content creator & Curator)= 65%= 0.65 * 84672= 55036.8 STEEM
- For Block producer= 10%= 0.1 * 84672= 8467.2 STEEM
- For Vested token holders= 15%= 0.15 * 84672= 12700.8 STEEM
- For SPS= 10%= 0.1 * 84672= 8467.2 STEEM