We are pleased to announce that Kraken will list Tezos (XTZ). XTZ trading starts Tuesday October 16! Trading and funding start time The approximate launch time globally is: PT: Tuesday October 16 at 8:00 am ET: Tuesday October 16 at 11:00 am UTC: Tuesday October…
Inflation is currently about 5% per year, right now these are the emission numbers:
- Baking a block, 16 Tezos reward.
- Endorsing a block, 2 Tezos reward times 32 slots for endorsement.
This is per minute.
So 16 + (32 * 2) Tezos per minute equals 42,048,000 per year.
However missed blocks and missed endorsements actually cut this value down, so this can be considered a upper bound on the amount of Tezos that can be printed per year.
I believe that u/murbard idea was that the community would eventually vote on changing these numbers (80 Tezos per block) to ensure the inflation stayed around 5% (otherwise the inflation as a percentage would trend towards 0 as the supply grows and emission rate stays fixed at 80)
A few things to note:
1) If the community does not vote to change the supply, the emission rate will stay fixed at 42 million per year.
2) This can go on for infinite years, I do not believe there is a max supply limit in the codebase. u/murbard can correct me if I am wrong.
3) The community would only need to update these variables every few years to keep around 5%, it's not that big a deal at the moment. (Or change the code to ensure the supply rate increase stays at 5% instead of being an absolute non relative value.)
I while back I tried advocating for this emission supply rate to be reduced, however I now consider u/murbard proposal to be superior because of the high network participation rate. Right now over 80% of the network is staking so that all of these nodes are getting this reward. This level of security is incredible if you think about it. By forcing all the Tezos stakeholders to participate in securing the network or lose value due to inflation, he has mobilised almost every investor and user into securing the network.
It's pretty amazing actually.
Correct me if I'm wrong - There are also transaction fees when you move your base tokens into Kraken wallet. (Separate from gas?) So, you pay gas and transaction fee. Then pay a fee when you go to exchange for XTZ. Afterwards, you then pay a transaction fee and gas to take XTZ out of Kraken.
EUR / USD to XTZ . Pair FIAT. Deposit / Withdrawls with the Old Financial world. US citizen to be able to trade. High volumes. Huge price increase on a long term basis. 100$ is impossible unless to have a huge global cryptoworld bullrun, SEc positives decisions, Big institutionals and hedge funds investors entering in the game ;P
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“Liquid Proof-of-Stake” @JacobArluck https://medium.com/tezos/liquid-proof-of-stake-aec2f7ef1da7
tl;dr from the article:
"Tezos allows token holders to transfer (“delegate”) validation rights to other token holders without transferring ownership. This has led many observers to confuse Tezos’ consensus mechanism with the delegated proof-of-stake (“dPOS”) model specific to EOS or Lisk. In dPOS, election of a fixed set of Block Producers (i.e. delegates) is required for network consensus. In Tezos, delegation is optional. I propose we instead refer to Tezos’ consensus mechanism as “Liquid Proof-of-Stake” or “LPOS”. LPOS aims to maintain a dynamic validator set, facilitating token holder coordination and accountable governance."