Is it possible to know how many peercoins are minting globally at any one time, kind of like the global bitcoin hashrate
maybe…
there is
ppcoind getdifficultyshowing the PoS difficulty, and i guess you can calculate the amount of PPC that is minting from the pos difficulty, dont ask me how tho 
[quote=“irritant, post:2, topic:3565”]maybe…
there is
ppcoind getdifficultyshowing the PoS difficulty, and i guess you can calculate the amount of PPC that is minting from the pos difficulty, dont ask me how tho :)[/quote]
Yeah that gives the current POS difficulty, i’m interested in finding out the total amount of coins minting to figure out how much would be needed for a 51% attack and the cost in USD. It would be interesting to compare this to the total cost required to 51% bitcoin.
When you know the POS difficulty, you can calculate the number of coins minting with the formula:
number_of_coins_minting = (POS_difficulty * 2^32) / 36000So the current POS difficulty of 15.75794122 means that around 1879995 coins are minting (8.37% of the total money supply).
An 8btc forum member offer a different perspective:
【征文】从销毁币天数CDD判断筹码稳定性
Basically, he concluded that 94% of newly-generated coindays are destroyed.
[quote=“redlee, post:5, topic:3565”]An 8btc forum member offer a different perspective:
【征文】从销毁币天数CDD判断筹码稳定性
Basically, he concluded that 94% of newly-generated coindays are destroyed.[/quote]
Hi [member=10912]redlee[/member], thanx for the link, would you mind translating it in english please?
as per the data from http://peerchain.net/
Current PPC in circulation is 22,427,411.05，so newly-generated coindays are 22,427,411/day
How many minted coins through
roughly: 6,626 /11.5 days（or 2016 blocks）= 576 ppc/day
36500 coindays=1PPC
576PPC*36500=21,030,347 coindays
21,030,347/22,427,411=94%
[quote=“irritant, post:2, topic:3565”]maybe…
there is
ppcoind getdifficultyshowing the PoS difficulty, and i guess you can calculate the amount of PPC that is minting from the pos difficulty, dont ask me how tho :)[/quote]
I deduced my formula from the hash test formula of the minting process:
hash < coins * dayweight * targetAs ‘hash’ is a value between 0 and 2^256, and as ‘target’ is (2^224 / ‘difficulty’), we can write the probability to pass the hash test:
p = (coins * dayweight * (2^224 / difficulty)) / 2^256
= (coins * dayweight) / (difficulty * 2^32)From that, and knowing that there is one hash test per second, you can get the average time to pass the hash test:
t = 1 / p
= (difficulty * 2^32) / (coins * dayweight)Here, we are interested in the total number of coins minting, and we know that they find a block every 10 minutes (600 seconds) on average:
coins = (difficulty * 2^32) / (dayweight * 600)In the formula I used in the post above, I took the maximum value for ‘dayweight’ (60 when the coins are at least 90 days old).
Since then, I computed the average age a coin has when it is used in a stake that finds a block. For the last 2016 blocks (between 180759 and 172775), I got an average age of 77.81 days (an average dayweight of 47.81).
With the difficulty around 15.95, this gives a number of minting coins around 2388000 (10.63% of the total money supply).
2 Likes
Thanx for your detailed answer [member=30128]glv[/member], updated the wiki page to point to your last post.
proof-of-work difficulty 1 represents 4 billion (232) hashes.
proof-of-stake difficulty 1 represents 4 billion (232) coin-day-second, that is, if you have 1 million coin-day you can roughly expect a difficulty 1 block in 4000 seconds. Also note the coin-age calculation here requires the age to be over 30 days and capped at 90 days.[/quote]
[quote=“glv, post:9, topic:3565”]Here, we are interested in the total number of coins minting, and we know that they find a block every 10 minutes (600 seconds) on average:
coins = (difficulty * 2^32) / (dayweight * 600)…
With the difficulty around 15.95, this gives a number of minting coins around 2388000 (10.63% of the total money supply).[/quote]
Using an address with a half million PPCs today I measured there are 10.9% coins minting.
The actual blocktime is 150hours/880 * 60 = 10.2 min.
http://bkchain.org/ppc/address/PXBf64T4gqKcn7Kruw75X8V5yeci34HG92
This address alone has 1.86 million for minting.
[quote=“redlee, post:13, topic:3565”]http://bkchain.org/ppc/address/PXBf64T4gqKcn7Kruw75X8V5yeci34HG92
This address alone has 1.86 million for minting.[/quote]
That address mostly has 10k - 20k utxos, so there are probably less than 200 utxos in total in the address. It will run out of mintable ones very soon and won’t have a lasting effect on the network. I think it is the “cold” wallet of an exchange.