Znode is useless, failed idea, they don’t have any special role in securing the network.
I don’t like idea changing “road map”.
So I vote to stick to the road map i.e. for status quo: 70% Miners and
30% Znodes, and devs should set up fund for donations.
Once chainlocks implemented they do secure the chain against 51% attacks and instant transactions though.
Also just letting you know one of the reasons we setup the https://zcs.zcoin.io is to see if we can fund stuff via donations. If it works out, then there may not need to be a dev reward but at the rate it’s going (see how many people have weighed in their opinions), we will need to let go all our staff if it’s a donation model.
Ideally znodes should enable insta payments, by ensuring the transaction they sign.
Yup that will be done after deterministic masternodes is done.
Just a quick update on this.
So far, general community seems to be for the idea of:
10 Dev
60 Miners
30 Znodes
or
10 Dev
45 Miners
45 Znodes
My preference is for the following:
15% development and marketing
40% Znodes
45% Miners rewards
The reasons are as follow:
This project’s USP is its cutting edge cryptography therefore to keep ahead of the competition we need to maintain a good level of investment in development. The coin is also massively undervalued (in my un-biased opinon ) hence the requirement for marketing. Every zcoin spent on marketing should produce >1 zcoin in return Vs fiat value, therefore it benefits the other 2 groups, miners and znode operators - and the the devs too!
The reason that the Znode reward should be increased is that in future they will provide 2 very useful services to the network; chain locks and insta spend. The first of these will decrease the depandance upon miners to secure the network and the second is not a service that can be provided by miners ergo Znodes deserve an increase in the block reward relative to miners
One of the things I’m hoping for is for a price increase in which case 10% is a lot so that has to be factored in as well.
Personally, I would like Zcoin to have a budget of about 120k USD a month that would give us more budget to work on research, audits, events, PR and things like that.
I’m a huge fan of a great development team constantly driving technology forward. With Znode Chain Locks helping to secure the network and Hi Electricity Fees for Miners, I’d rather developers pushing down the price vs miners.
IMHO
20% Dev / 40% Miners / 40% ZNodes.
I vote for 45% miners reward. 45% znodes reward and 10% dev fund
How does everyone feel towards a 12% Dev (keeps same level of funding) + 6% to ZCS items (ideally this is managed by a separate committee).
For 2 years so that the mandate isn’t too long. My concern is who should be in the committee and how should they be elected?
Personally I don’t like change roadmap, especially now when halving is this year. I don’t understand why in roadmap was this proposal to cancel devs… But OK we need to have development so 10 percent OK.
But so huge change between miners and znods is really big change, I mean 45/45. Please keep it as close to roadmap as possible.
And my last proposal is why not have possibility to create znode for somebody with less than 1000 zcoins, for example 100. A lot of people have technical skill and possibility to create and run znode but maybe don’t have free funds to buy 1000 xzc.
There was some discussion on the community meeting here:
For those who missed it, catch the replay at https://youtu.be/MLnF2YmhcTA
The block reward discussion is probably in the last half an hour.
Hi there, first for 10-30-60 I think it’s fine and good for everyone, you guys have done good jobs for Zcoin to be itself yet. And Zcoin should and can go further.
2. The funds can be used for extending the influence of Zcoin to the cryptocurrency community, it’s time for Zcoin to embrace more users.
Good Luck!
Hi thanks for your comments @ldy823!
Just a note that a 10% block reward will be less than what we’re getting now since we are 6% which is 13,000 xzc and we would need a 12% block reward to keep the same level of funding.
With the tough situation we’ve been in, I am actually proposing that we should up it to 15% for the dev reward. What are your thoughts on this?
It’s been almost one year since this thread started and we should reach a decision from the community soon.
I’ll be creating a new thread with my new proposal and also based off feedback here to do a revote so that people have a chance to update their feedback.
A lot has happend with the price of Zcoin since this discussion started.
I think that so we aren’t going though a similar discussion again in a year from now - it should be a minimum of 2 years, and the Dev/ZCS/marketing fund needs to be at least as much (after halving) as it has been, in case we have another bear market.
My preference would be:
15% development, ZCS and marketing
40% Miners
45% Znodes
or
12% development, ZCS and marketing
44% Miners
44% Znodes
or something similar.
it should always have the dev fund to support the team no matter what
my preference would be:
15% dev fund and marketing ( 10% dev fun, 5% marketing)
5% ZCS
40% miners
40% Znodes
miner and znode are both important, but znode has to be more function , such as instant send, voting, chain locks etc.