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ZIP 1001: Keep the Block Distribution as Initially Defined -- 90% to Miners
Thanks to: * Str4d for the help with the specification. * Daira for pointing out issues with my interpretation of how the current FR/ECC structure works. * Sonya for her extensive help with this. * Everyone else on the forum and ECC/Zfnd that helped me with this. Co-Authored-by: Jack Grigg <str4d@electriccoin.co> Co-Authored-by: Daira Hopwood <daira@electriccoin.co> Co-Authored-by: Sonya Mann <sonya@zfnd.org> Signed-off-by: Daira Hopwood <daira@electriccoin.co>
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ZIP: unassigned
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Title: ZIP proposal Keep the block distribution as initially defined. 90% to miners
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Owner: unassigned
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Advocate: mistfpga (zcash forums) <steve@mistfpga.net>
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Category: Protocol
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Created: 2019-08-01
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License: CC BY-SA 4.0 (Creative Commons Attribution-ShareAlike 4.0) [1]
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Originally posted and discussed `on the Zcash Community Forum <https://forum.zcashcommunity.com/t/zip-proposal-keep-the-block-distribution-as-initaly-defined-90-to-miners/33843>`__.
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`RFC2119 <https://tools.ietf.org/html/rfc2119>`__. references will be in CAPS.
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**The key words include "MUST", "MUST NOT", "REQUIRED", "SHALL", "SHALL NOT", "SHOULD", "SHOULD NOT", "RECOMMENDED", "MAY", and "OPTIONAL"**
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For clarity in this ZIP defines these terms:
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- Mining software in the context of this zip refers to pool software, local mining software, or staking software.
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- Mining is defined as the action of processing transactions, so this include proof of stake, if zcash would switch to that.
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- Mining coins transferred via fees are considered rewards (infinite), coins generated via block generation are considered distribution (finite).
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- Block distribution is defined as the block reward - transaction fees.
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- Spirit is defined as what is the intended outcome of the zip.[2]
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- Initial promise is non neutral language referencing the block distribution rules as initially set out.[3]
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Abstract
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========
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The spirit of this zip is to is to ensure that the FR ends. It is not the intention of this zip to stop protocol based donations.
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It is a simplistic short zip.
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Hopefully it will be compatible with a number of other zips and can be worked into them.
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Out of Scope for this proposal
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==============================
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- Governance on how decisions are made, this ZIP is not meant to be used as a form of governance.
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- Future funding
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- It does not cover other donations or revenue streams.
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Motivation
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==========
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- The Founders Reward is set to expire in 2020.
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- To honour the initial promise of giving 90% of total block distribution to miners. Therefore the protocol giving them 100% of the block distribution after the first halving.
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Requirements
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============
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- The FR MUST end at the fist halving.
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- This zip SHOULD NOT preclude the ECC from sourcing funding elsewhere, or from donations.
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Specification
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=============
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- The existing Founders’ Reward consensus rules [4],[5] MUST be preserved.
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- Specifically, `FoundersReward(height) MUST equal 0 if Halving(height) >= 1` (For clarity once the halving happens the FR stops. as per the rules outlined in [4],[5])
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- This line of code is only meant to stop the FR not protocol based donations.
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- Enforcing some kind of mandatory donation via whatever mechanism would be seen as continuation of the FR.
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Implications to other users
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===========================
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- Block distribution payouts to FR addresses will need to be removed from the codebase. (I think this already happens though)
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- Pools and other software may need to make adjustments for this.
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Technical implementation
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========================
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- ?
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References
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==========
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[1] https://creativecommons.org/licenses/by-sa/4.0/
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[2] If there is contradiction between Spirit and any other part of the proposal that needs to be addressed. in the even it is not addressed Spirit is assumed to overrule all.
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[3] Cant find the document! the one with the graph in it. will update.
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[4] Section 7.7: Calculation of Block Subsidy and Founders Reward. Zcash Protocol Specification, Version 2019.0.0 [Overwinter+Sapling]
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[5] Section 7.8: Payment of Founders’ Reward. Zcash Protocol Specification, Version 2019.0.0 [Overwinter+Sapling]
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