[ZIP 234] NSM: Smooth Issuance Curve #914
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| 1. We want to introduce an automated mechanism that allows users of the network | ||
| to contribute to the long-term sustainability of the network. |
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This objective mixes several concerns. ZIP 233 + ZIP 234 (without ZIP 235) provide only a "manual" mechanism for such contributions, by setting the burnAmount field. Only ZIP 235 makes it "automated".
| being introduced to the market. Such sudden shifts can potentially disrupt the | ||
| network's economic model, potentially impacting its security and stability. |
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Is there concrete evidence that halvings significantly disrupt the network's economic model or have a significant chance of disrupting its security and stability?
There is a possible argument that since changes in miner subsidy are more gradual, potential economic and consensus security problems with those reductions might be seen earlier. However this is only asserted, not convincingly argued.
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Yes, we agree that since changes in miner subsidy are more gradual, potential economic and consensus security problems with those reductions might be seen earlier.
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Reviewed with @arya2, @str4d, @daira.
The assumption that this will activate at a halving is incorrect; for semantic stability this ZIP should be modified to eliminate this assumption.
In addition, since NU7 will likely activate before the crossover point (slightly less than 2 years after the halving), if this ZIP takes effect at NU7 activation, it will result in increase in issuance at that time relative to the immediately preceding block subsidies, unless the change in issuance is deferred to the crossover point.
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Hi, I've suggested two edits on behalf of Shielded Labs because it is late late night for @giddie and we wanted to achieve semantic stability in time for the deadline.
Please let me know if these suggested edits would meet the semantic stability threshold, and @giddie and I will keep an eye on this PR over the next day (to cover more hours).
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Co-authored-by: shielded-nate <shieldednate@proton.me>
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| TODO daira: add a requirement that makes the initial total issuance match the previous total issuance | ||
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| TODO daira: add a requirement that makes the initial total issuance match the previous total issuance |
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