Smooth emission

/Smooth emission
Smooth emission 2016-12-07T22:35:08+00:00

Emission of fiat currencies is a closed process where an issuer is engaging its own capabilities. One can’t take part in the emission process.

Dinastycoin emission is an open process which employs computing powers of all network members. Any user can join the Dinastycoin network and take part in the emission process (thus, becoming a miner).

Mining in the network results in creation of new money, which serves as the reward for users who employ their computing power in order to process transactions.

All transactions are carried out each 120 seconds. Miners ensure that the transactions are processed correctly and provide cryptographic protection of transactions and personal data. However, miners cannot access users’ financial data since Dinastycoin protects the identity of the sender and the receiver, and conceals the sum transferred.

As a reward, miners receive roughly 65,000 DCY each 120 seconds. Such approach allows both new money emission and zero-fee transactions.

The upper bound for the overall amount of all digital coins is also digital:

MSupply = 264 − 1 atomic units

This is a natural restriction based only on the implementation limits, not on intuition like “N coins ought to be enough for everybody”. To make the emission process smoother DinastyCoin uses the following formula for block rewards:

BaseReward = (MSupply − A) >> 18

where A is amount of previously generated coins. It gives a predictable growth of the money supply without any breakpoints.

DinastyCoin  are gradually getting more expensive over time, since the emission is limited to 2,000,440,737 DCY. The number of Bytecoin emitted each 120 seconds is slightly decreasing. As a result DCY gains value and exchange rate increase.

While currencies with sharp decrease of reward per block are exposed to intense declines in network power, DinastyCoin  emission is decreasing slowly, which protects the currency from economic shocks.