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RE: Gridcoin - State of the Network - 21 January 2018
These numbers are worrying me: lot of empty blocks, staking is more difficult and is going more and more to non-crunchers. How can we change this?
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This is not good indeed
This is not true. Just check reports from the last year. Research rewards are around 370k for each period. CBRs are around the same as interest used to be, but now CBRs are... constant, as in the name, capped and not growing any more like they did with interest mechanism and total coin supply growth. Last year there were periods where interest paid was twice higher than CBRs paid in recent periods.
Maybe I need to explain my comments:
Two third of the blocks are empty, and the non empty blocks have in average only 4 transactions. Of course, is good to have space for future, but what is concerning me is that we have less transactions (20k, compared to 30k one year ago)
This is also a personal experience. Loking on the numbers, it's eight times more difficult today than one year ago. And this is prohibiting for new comers...
More than 60% of the blocks are created by non-CPID users, compared to 30% one year ago.
Well, I agreed with the view that more empty blocks is not good. If there is fewer transactions - it's not good either. I agree on that. As for staking difficulty, it's what community and developers were aiming for, so blockchain is safe.
That's different topic, I thought you were talking about GRC rewards, not number of staked blocks. Big topic. Is it important at all (whether non-CPID users or CPID users stake blocks)? There is only 960 blocks per day, seems there is no way to scale staking so many users could stake, as many will always reach some limit. Thus big topic on scaling, decentralization, efficiency, safety and speed of the network...
“Fortunately” we are in a position that we can handle the current volumes but I think we should take the opportunity now to prepare ourselves and be ready for the future.
Better than full blocks, but yeah more activity would be great.
Buy GRC to increase your rate of staking, it's pretty dang cheap right now & exchanges are low trading volume :/
Nah, the recent CBR change means far less is going to huge whales these days. More users means it's spread over more users, if you're solely profit oriented then buying is the better move at these really low prices.
Today is a rare day I can't agree with you ;)
Full blocks and congested network is a nightmare, but it's a bit like saying better to loose a hand than a leg or vice versa. Both sucks.
In the far future it could be true. But currently it's other way around. If there would be still interest of 1.5% in place, 100k balance would receive from the inflation slightly over 1500 per annum, now it's over 3000 pa. However, every staking node is benefiting, whether large or smallish, but not too small as due to higher Diff very tiny ones have little chance to stake at all.
Without disputing your comments, I agree with cm-steem that the whales are not benefitting from CBR, it is the orcas who do. On the other hand, I do agree with you and @steemmillionaire that plankton for sure doesn’t benefit from CBR but fortunately we still have pools.
Since beginning of last year, the GCR value has dropped with a factor 20. Before the CBR implementation, you needed 1000 to 3000 GRC to stake regularly now it is between 20,000 to 40,000 GRC. With the current market price, this requires the same investment from a USD perspective compared to beginning of last year.
Some major whales are still staking with millions per address, effectively burning potential earnings - they used to make tens of thousands of GRC once or twice per month, where as now they make much less until they take splitting their staking balances seriously.