Proof-of-Research Genesis Block

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Foundation Block Calculation Explained - Proof Of Research

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1. Classic Minted from GRCBX: @Block 192650 ( GRCBX=29,876,367 )

2. Classic Minted from Cryptoblox: @Block 188215 ( Cryptoblox = 31,575,238 )

3. CryptoBlox Block #s 188216-192650 = 4435 Blocks * 150GRC = 665,250 = 32,240,488

4. Difference between CryptoBlox and GRCBX = 2,364,121

5. Classic emitted between today and when subsidy decreases ( block 192650-199000 = 6350 ) Est 952,500 more subsidies before decrease

6. Estimated Subsidies for Classic between block 199000 and 285400 (when classic retires; betwen 10-20-2014 and 03-30-2015) = 86400blocks = 86400*10grc = 864,000

7. Foundation Block Calculation:

  • 31,575,238 ( Cryptoblox mint during upgrade:block 188215 ) + 665,250 ( Cryptoblox current ( 10-11-2014 ) ) = 32,240,488 TOTAL GRC as of Today
  • 32,240,488 ( Cryptoblox today ) + 952,500 ( Classic Emission schedule until 10-20-2014 ) = 33,192,988 Projected minted Coins on 10-20-2014
  • 33,192,988 ( Total projected Gridcoins as of 10-20-2014 when subsidy decreases to 10grc) + 864,000 ( Classic emissions during end of life span @ 10grc ) = 34,056,988

8. Foundation Block Final Grand Total: 34,056,988 * 10 ( New multiplier ) = 340,569,880 <---- This is the amount for the Proof Of Research Foundation Block

9. Proof Of Research Foundation Block: 340,569,880


In laymans terms, this is the amount that will be distributed to our 750-1250 distinct GRC holders/investors through the coin burning process.

All Gridcoins will eventually end up in the proof-of-research chain when we retire Classic.


Coins left over after Mar 30 2015 will be audited, highly scrutinized, and used wisely by the foundation for advertising and dev bounties.

Source

http://coin.wiki/

See Also on BitcoinWiki

This page was moved from enbitwiki:en:Proof-of-Research Genesis Block. Its edit history can be viewed at Proof-of-Research Genesis Block/edithistory