Conflux Network Proposal to Adjust Rewards and Inflation Rate
According to the news on February 21, the voting result of the Conflux Network CIP-94 proposal will be activated at block 154536000 (expected at 20:00 on Febru…
According to the news on February 21, the voting result of the Conflux Network CIP-94 proposal will be activated at block 154536000 (expected at 20:00 on February 22, 2023). At that time, the PoW basic reward will be adjusted from 2CFX to 1CFX, and the PoS basic inflation rate will be adjusted from 4% to 4.08%.
The basic award of Conflux PoW will be adjusted from 2 CFX to 1 CFX. The proposal will be activated on the chain tomorrow
Interpretation of the news:
The recent news from Conflux Network about the activation of the CIP-94 proposal has brought in some significant changes in the PoW and PoS systems. According to the statement, the block 154536000, which is expected to be generated at around 20:00 on February 22, 2023, will see the implementation of the changes.
One of the most notable changes is the adjustment of the PoW basic reward from 2CFX to 1CFX. This means that with every block mined, instead of earning 2CFX, miners will earn 1CFX as the basic reward. This change aims to promote the overall stability of the network and incentivize long-term investment in the system.
Another change that’s coming with the CIP-94 implementation is the adjustment of the PoS basic inflation rate from 4% to 4.08%. The basic inflation rate represents the rate at which new coins are being minted in the network, and the increase from 4% to 4.08% will bring about a slightly higher inflation rate. However, this inflation rate is designed to counterbalance the decrease in the PoW basic reward, ensuring that the network remains healthy and has the necessary incentives for its actors.
Overall, the implementation of the CIP-94 proposal is expected to bring about stable growth in the Conflux Network ecosystem. These changes are aimed at promoting long-term investment while ensuring a healthy balance between miners and token holders. The adjustments in the basic reward for PoW and basic inflation rate for PoS provide a balance that facilitates trust and confidence in the network.
In conclusion, the Conflux Network is very mindful of the overall network growth, stability and security. The adjustment of the PoW basic reward and PoS inflation rate is just another step towards aligning the network’s incentives and keeping the stakeholders active and engaged. By implementing the CIP-94 proposal, Conflux shows its commitment towards maintaining a healthy and sustainable ecosystem for years to come.
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