First of all – Pow2 isn’t released yet – So this post is hypothetical. The contents of this post will be valid once the Gulden PoW2 update rolls out and witnessing is enabled.
We get a lot of questions about how you can calculate the yield of your witness account. Basically you cannot calculate it; but there is a site which attempts to give you an estimate: https://projectify.me/witness/
To have the complete picture:
The yield of your witnessing is based on a variable witch is currently unknown AND changes every day/hour/minute That value is the “TotalNetworkWeight”
Every Witness account has a Weight – That weight can be calculated through a formula in the PoW2 Whitepaper (Page 34).
TotalNetworkWeight is the weight of all the witness accounts combined and can currently only be estimated.
When Witnessing is released TotalNetworkWeight is a value that can be retrieved from RPC (through the Gulden-app) and so that value is transparant. Thus you can calculate what your weight is compared to the total network weight. Based on that you can estimate how often your witness account is selected for witnessing and thus how often you should be able to witness. When your weight is more than 2% of the TotalNetworkWeight your weight will be reduced to 2% for the selection. If you’re account is selected to witness you’ll get in a “cool-of” period of 100 blocks.During that time you cannot witness with that specific Witness account. Based on an estimation of 576 blocks per day IF you have a super strong network weight theoretically you can only witness 5.76 times per day (or 115 Gulden per day; because each witness action gives you 20 Gulden).
Therefore I think your maximum yield is 126.144 Gulden in 3 years per witness account. And that is based on super positive values (like your account gets selected every time the first time you’re selected to witness).
I think the values on the website https://projectify.me/witness/ are WAY over-estimated and don’t represent anywhere near what’s able to witness in 3 years.
A couple of days ago I had a question about something that bugged me a little bit. In the Gulden desktop wallet (which you can download at Gulden.com) I did create a couple of accounts. A few months later I wanted to reorganize my accounts. This was my previous situation: Continue reading “Gulden – Clear account balance”
What is cooler than knowing that Gulden is a growing network of nodes? Well seeing those nodes is way cooler than only knowing that they are there. A Slack user I’ve been chatting with, named Sebastiaan Pasma has such an overview and it looks totally great. His website GuldenNodes.com gives a visual overview of the nodes connected to each other for the Gulden Blockchain. Continue reading “GuldenNodes.com – Help visualize all the Gulden nodes”
These are the RPC Commands available for the Gulden Blockchain.
The blockchain technology caught my attention a few months back when learning more about Gulden, which is a good alternative to Bitcoin. In my opinion the blockchain technology will be the next big thing in tech for the next few decades. It’s been around for almost 8 years now, and to my opinion hasn’t got enough traction it deserves. Therefore I decided I wanted to do more with this technology and learn more about it. But where to start? How to start? There’s so much to learn about the blockchain that it simply cannot be summarized in a simple blogpost like this. But this blogpost is a summary of what I’ve learned with the Gulden blockchain over the past few weeks.