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Economic Model of Wisdom Chain Document Knowledge Base

This article comes from the official Twitter of Wisdom Chain
URL:
https://twitter.com/Wisdom_Chain/status/1298497409455185921? S=20

In the previous chapter, we talked about the consensus mechanism of Wisdom Chain Document Knowledge Base. Today, we will talk about Wisdom Chain 's economic model.

It has had been 10 years since the birth of bitcoins. There is no doubt that bitcoins and Ethereum are the two most important public chains today. Many of their design ideas and concepts continue to influence the later developers of block chains.

& at the economic model of bitcoins, the mining, reward for bitcoins is halved every four years until 2140, when miners' rewards will only include the transaction feeds blocks. In bitcoins is a deflation system in the long run, which is according to many holders believe it will eventually rise.

In the economic model of Ethereum, the core logic is to let the ETH happens indefinitely, but this is contradictory, not to say the total amount of the ETH is not constant. The From the economic model point of view, the interests of the ETH users and miners are not consistent, which also top service the development of Ethereum about.

As an physicist public chain, Wisdom chain 's economic model references the bitcoins deflation model, where the initial output block time is 30 seconds and each block receives a reward 20 WDC. After 2102400 blocks (about two years), and this number will decrease by about 52.22% until the block award is adjusted to 6.666666 WDC, and In addition to adjusting the height of the first interest reduction block to 573600 blocks, the output will reduce by 52.22%

Wisdom Chain 's native currency WDC the totals 590000000, of which the total reward for miners is 88000000, and the WDC economic model is 325000000 for the community. The technical, The operational, ecological and public welfare funds are 177000000.

WDC is mainly, informs the for application layer payment, mining, equity certificate, the transaction deposit, transaction market opening fee, transaction dispute arbitration fee, etc. Meanwhile, you can also use the WDC in your hand to develop your own Dapp for users to make money. The Layer2 application chain allows more people to to the platform for secondary development.

WDC is not a fee like Gas, but rather a "global state" that represents its occupation of the Wisdom Chain. For example, if you have 1000 tokens of the WDC, you can create up to 1000 bytes of space in which you can store assets, DApp status, or other data.

A contributor like the percentage of system memory and CPU that an EOS holder can call? But we need to pay attention to the difference. The First, WDC can get space units without collateral, and secondly, it can store the content in a unit, rather than "computing resources" like CPU or memory.

With the outbreak of Wisdom Chain ecological applications, the value of the WDC will continue to grow.

Simplified Chinese
This article from Wisdom Chain official Twitter
URL:
https://twitter.com/Wisdom_Chain/status/1298497409455185921? S=20

In front of us "Wisdom Chain document repository" mechanism of consensus problem, today we're going to talk about Wisdom Chain economic model,

COINS from its birth to today already has ten years, there is no doubt that the currency and etheric fang is the most important two male chains, they are a lot of design ideas and concepts constantly affect later block chain developer,


Look at the economic model of COINS, COINS dig reward by half, every four years until 2140, and since then the miners reward will contain only block the transaction fee in the long run the currency is a deflation system, which is why many ChiBiRen believes that the currency will eventually rise, the main reasons for

And etheric fang economic model, core logic is to make the ETH unlimited appreciation, but this is contradictory, not to mention the ETH total unsteady, from the perspective of economic model of the ETH the interests of the consumer and the miners, it also makes the development of Ethernet fang struggling,

Wisdom Chain as an underlying Chain, its economic model refer to the currency deflation, the Chain of initial output block time for 30 seconds, each block will receive 20 WDC reward, after 2102400 blocks (about 2 years), the number will be reduced by about 52.22%, until the block adjustment of 6.66666666 WDC reward, in addition to the first rate cut piece of height is adjusted for $5736000, the rest every 6307200 block lose 52.22%,

Wisdom Chain native currency WDC, total is 590000000, including the total reward for 88000000, WDC economic model: community, 325000000; Technical team, operations team, ecological construction and public welfare fund: 177000000,

WDC is mainly used in the application layer, mining rights proved that guaranty gold trading, market opening, trade dispute arbitration fees and other purposes, at the same time you can also use the hands of the WDC to develop their own Dapp, for users to use to make money, Layer2 application chain, let more people to the secondary development platform,

WDC is not that kind of Gas fee, but on behalf of its footprint Wisdom Chain "global state", for example, you have 1000 tokens, WDC, then you can create up to 1000 bytes of space unit, in which you can store assets, DApp state, or other data,

Listen to feel like holding EOS can invoke the system memory and CPU utilization ratio? But must pay attention to the distinction, one is the WDC without pledge to get a space unit, second, the unit can store content, hush, rather than "computing resources such as CPU or memory,

And with the Wisdom Chain the outbreak of ecological application, the value of the WDC also will continue to grow,