Token Economics for Sustaining the CROSSVALUE Chain
CROSSVALUE Chain maintains its blockchain network using VPoW, an innovative, power-saving consensus algorithm derived from the traditional PoW mining algorithm. This approach ensures the security and sustainability of the network while encouraging participation in CROSSVALUE Chain mining.
As more people participate in CROSSVALUE Chain mining, the sustainability of the network increases. Mining participants will receive XCR, the native token of CROSSVALUE Chain, as an incentive to contribute their resources to the network. XCR is expected to have a variety of utilities within the CROSSVALUE Chain ecosystem, including:
Network Currency: Used for transaction fees and network usage fees.
Governance: Used by holders and their agents to exercise governance over proposals in the future (e.g., parameter changes, protocol upgrades, etc.).
Block Rewards: Rewards are used to protect the network and support the VPoW consensus that validates transactions on chain. Escrow and voting nodes receive XCR rewards as an incentive to continue to secure the network. Incentives for DACS nodes that provide storage are also allocated from block rewards. Rewards to these network participants are newly issued according to rules encoded in the protocol, increasing the supply of tokens up to a defined issuance limit.
Collateral for DACS: Used as collateral to become a DACS node, which is on-chain storage; to operate a DACS node, node operators are responsible for staking XCR and storing data.
Rewards for Contributors: Used to reward ecosystem builders and community contributors.
XCR Mining Rewards
XCR Mining Rewards are designed to make the CROSSVALUE Chain network sustainable and provide incentives for user participation.
CROSSVALUE Chain block rewards include incentives for various network participants, such as node servers and DACS nodes. The rewards system aims to promote the development and expansion of dApps on the CROSSVALUE Chain and maintain a healthy, thriving ecosystem.
XCR Mining Reward FormulaXCR Mining Reward Formula
If More than 0, and less than 1.0 then Era will be 0/1
If More than 1.0, and less than 2.0 then Era will be 1/1
If More than 2.0, and less than 3.0 then Era will be 1/2
If More than 3.0, and less than 4.0 then Era will be 1/3
If More than 4.0, and less than 5.0 then Era will be 1/4
If More than 5.0, and less than 6.0 then Era will be 1/5
If More than 6.0, and more then Era will be 1/6
Autonomous Decentralized Node supporting CROSSVALUE Chain
In CROSSVALUE Chain, the network is designed to work persistently by having multiple nodes fulfill their respective roles. The role description of the node to which each block reward is assigned is as follows:
DACS Nodes
The amount of XCRs generated as mining rewards for each mining operation is the number specified in the ERA, which is calculated and derived at regular intervals. The allocation rate of block rewards is determined by applying the number of XCRs derived here to the number of XCRs. The quantity of newly issued XCRs decreases by a certain amount at each half-life.
XCR Mining Rewards for Voting Nodes
XCR mining rewards for voting nodes are designed based on the by-chance concept. A decentralized wallet with an embedded voting auto-reply mining instance code acts as a voting node. Seven voting nodes are selected by the Escrow node at regular intervals, and the voting nodes receive mining rewards by returning their answers to the Escrow node for the authenticity of the transaction.
Allocation of Block Rewards
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