Fireduck: migration

2018-10-30T06:00:15Z

migration

New page

<div align="center">
<h1>Snowblossom Improvement Proposal 1</h1>
<h2>SIP1: Fix Block Reward Halving Time</h3>
</div>
<h3>Summary</h3

* [In testing, the block reward halving time was set to **1** instead of the expected **4** years.](https://github.com/snowblossomcoin/snowblossom/blob/6291ef1738b5b345013a21b38b2b566eb1e3297d/lib/src/PowUtil.java#L178-L193)
* This results in a total possible supply of **5,256,000** instead of the expected **21,024,000**
* The proposal is to correct it to **4** years, resulting in an expected **21,024,000** cap.

<h3>
Motivation</h3>

* Public statements, design, intention, and expectations described 4 years.
* This means 97% of total supply will be distributed in just 5 years
* This is a bug that unexpectedly alters the worth and economy of Snowblossom
* This unexpectedly places extreme weight in the advantage of early miners, which stands against the stated values, intention, and expectation communicated to all users.
* As it is considered a bug, developers considered just making this change but decided it was more open to have a vote instead.

<h3>Concerns</h3>
* With 4x higher scarcity, coins are worth more. This creates a situation where some early adopters with large amounts may wish to enforce that scarcity, and initial worth.

<h3>Voting</h3>
* Passes when 1000 blocks pass containing 25% voting and >50% agreement
* Pools will represent their miners.
* Set in your miner or pool configuration file either
** vote_yes=1
** vote_no=1

<h3>Sponsors</h3>
* Joseph Gleason - Fireduck (slack) - fireduck64 (github)
* Zachary Coon - Clueless (slack) - cluelessperson (github)
* Tyler Boon - tster123 (github)

SIP1-Fix-Block-Reward-Halving-Time - Revision history

Fireduck: migration