What is the mining reward rule of Conflux? Please introduce the core concept - “Tree-Graph” and the function of block reward.
- There are three parts of Conflux miner rewards:
- Basic block rewards
- Transaction fees
- The interest on the bonded storage
From the perspective of miners, the higher the mining reward is, the better. But in a long run, the basic block rewards will decrease. And if the transaction fee is too high, user experience will be affected heavily, and thus bad for the long-term growth of the ecosystem. The reason of Conflux improving TPS is that we hope to reduce the cost of transaction fees to make every user enjoy the benefit of decentralized applications.
So, to continuously motivate miners, Conflux introduces bonded storage mechanism. The interest on the bonded storage is payed to miners to create a long term income to the miners. In the future, when massive data is stored on Conflux chain, the interests on bonded storage can provide a long term driving force for the miner community. In this way, user experience and miner profits are both ensured.
According to Conflux Tree-Graph protocol, no blocks will be discarded, which is more tolerant than Ethereum. So miners do not need to worry that they will not get block rewards if their blocks are not added to the pivot chain. But of course, if miners do some obvious attacks, they cannot get rewards although their blocks will also be accepted.
For miners and investors, centralized exchanges is more convenient in terms of liquidity and CFX trading. Up to now MoonDEX, a decentralized exchange, has listed CFX. Will you consider to get listed on other exchanges? What is the advantage of MoonDEX?
MoonDEX is the first decentralized exchange in Conflux ecosystem. Besides CFX, MoonDEX also supports FC trading. Built on the underlying Conflux chain, MoonDEX is featured with 300+ TPS performance and asset security as a high-frequency matching engine.
What is special in Conflux mining algorithm? What is the expected developing direction of hardwares?
Conflux adopts anti-ASIC algorithm which is friendly to graphics cards to ensure it is easy to get mining devices. Graphics cards commonly seen on the market is not worse than the professional devices in big mining pools. The block generation rate of Conflux is high, so as long as the blocks are legitimate, the miner can get rewards. The income of Conflux miners are stable and smooth. The current block time in the testnet is set to be about 0.5s.
As for the developing direction of hardwares, Conflux will show higher and higher requirement on graphics memory, approximately 16M more space for every 500,000 (2^19) epochs. At first, the graphics memory is less than 4G. Within the first week after the mainnet launch, the memory exceeded 4G, then graphics cards with more than 4G memory are needed to mine, and the memory increases in a linear manner, about 1-1.5G a year.
Conflux has conducted several mining testing activities. What are the main participants in the activities and what is the expected computing power?
During Conflux Oceanus Network, we conducted 14 mining testing activities.
The highest number of online mining nodes at the same time reached 4,800. In the early stage of Oceanus, the participants are mainly Community members. After the GPU mining algorithm was released, many professional miners were also attracted to join the mining testing activities.
The computing power is determined by the market. If miners think mining on Conflux is more profitable, the computing power on Conflux will increase accordingly. We do not have an expectation. Our goal is simple: to make Conflux a “useful” platform with assets, ecosystem and users, and provide a valueable consensus. We hope Conflux can get attention and grow healthily because of its usefulness.