So I guess I find myself going deeper and deeper into a rabbit hole. When life gives you rocks and you really want lemonade, I guess you could either complain or discover where lemons come from. I'm on a journey to discover where those lemons come.
I want accurate, useful financial data from the blockchain for several reasons. I won't go into those reasons in detail, but part of it involves performing a "civic duty", part of it is for future convenience, and part of it is to provide fellow Steemians a means of easily accessing that data. All I wanted to do was write a simple application, but the chain wasn't going to let me off so easily.
For now, I'm in search of the magical equations that make everything behind the scenes work. Any breakthroughs or generally interesting information I will try and convey to my lovely audience of bots, spammers, and crypto-addicts.
So far, I've figured out a way to dig up every operation and map that operation to a specific block. I also can find the SBD and VESTs that are rewarded in some of those operations. Unfortunately, nobody really talks, trades, or engages with VESTS on the platform, they engage with STEEM. So I'm looking for a universal conversation rate that goes back in time in order to provide accurate numbers rather than estimates.
For those of you that don't know, Block 7,000,000 is very important in this journey. So is Block 220,750,000. Both provide key numbers that should be useful on my journey through the depths of the blockchain. On Block 7,000,000, the inflation rate of Steem was adjusted to 9.5% and set to decrease by 0.1% every 250,000 blocks until a rate of 0.95% is reached. If we do the math, we can confirm that this 0.95% rate will indeed start with Block 220,750,000.
What does that have to do with VESTS? Well VESTS are kind of like shares in the total ecosystem, so understanding the inflation rate will be important in determining the adjusting rate of VESTS over time and then using that rate to uncover an accurate conversion rate between VESTS and STEEM throughout history.
Did all of that confuse you? Don't be worried if it does. It stills confuses me.