Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Update docs for DCP0012. #1226

Merged
merged 1 commit into from
Aug 30, 2023
Merged
Show file tree
Hide file tree
Changes from all commits
Commits
File filter

Filter by extension

Filter by extension

Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
816 changes: 411 additions & 405 deletions docs/advanced/issuance.md

Large diffs are not rendered by default.

2 changes: 1 addition & 1 deletion docs/glossary.md
Original file line number Diff line number Diff line change
Expand Up @@ -270,7 +270,7 @@ A Decred wallet which is connected to the Internet. Proof-of-stake voting wallet

#### Hybrid PoW/PoS

In Decred, a [hybrid PoW/PoS system](research/hybrid-design.md) is used, whereby blocks mined by PoW miners must be approved by ticket holders, which are pseudorandomly selected from the ticket pool. This provides a check on PoW miners and increases the overall cost of attacking the network. When a block is approved, 60% of the block reward goes to the PoW miner, 30% goes to the holders of tickets called to vote (approve blocks), and 10% goes to the Decred Treasury to fund the project.
In Decred, a [hybrid PoW/PoS system](research/hybrid-design.md) is used, whereby blocks mined by PoW miners must be approved by ticket holders, which are pseudorandomly selected from the ticket pool. This provides a check on PoW miners and increases the overall cost of attacking the network. When a block is approved, 1% of the block reward goes to the PoW miner, 89% goes to the holders of tickets called to vote (approve blocks), and 10% goes to the Decred Treasury to fund the project.

## I

Expand Down
4 changes: 2 additions & 2 deletions docs/governance/decred-constitution.md
Original file line number Diff line number Diff line change
Expand Up @@ -21,8 +21,8 @@ Decred (/ˈdi:ˈkred/, /dɪˈkred/, dee-cred) is a secure, adaptable and self-fu
* Stakeholders are people who purchase one or more tickets, which entails locking a specific amount of DCR. The amount of DCR that must be locked, also known as the ticket price, fluctuates as the system targets 40,960 tickets in the live pool.
* In each block, 5 tickets are called to vote, determined by a lottery [system](../proof-of-stake/overview.md). When a ticket is called, a nominated wallet must actively respond with a vote. For a block to be accepted by the network, it must include votes from at least 3 of the 5 tickets called. The blockchain cannot be extended without the active participation of stakeholders.
* Stakeholders must wait an average of 28 days (8,192 blocks) to vote their tickets, and during this time the DCR used to purchase the ticket remain locked. The wait may be much longer or shorter than the average of 28 days because the ticket selection process is pseudorandom. Tickets expire after 40,960 blocks (~142 days) if they have not been called to vote.
* Stakeholder votes recorded in the blockchain are rewarded with 6% of each block subsidy, and each block can have up to 5 votes for a total of 30% of each block subsidy.
* PoW receives 60% of each block subsidy, subject to the constraint that their subsidy scales linearly with the number of PoS votes included, e.g. including 3 of 5 votes reduces PoW subsidy to 60% of the maximum.
* Stakeholder votes recorded in the blockchain are rewarded with 17.8% of each block subsidy, and each block can have up to 5 votes for a total of 89% of each block subsidy.
* PoW receives 1% of each block subsidy, subject to the constraint that their subsidy scales linearly with the number of PoS votes included, e.g. including 3 of 5 votes reduces PoW subsidy to 60% of the maximum.
* The votes themselves decide by majority decision whether the regular transaction tree of the previous block, including the PoW subsidy, is valid. Thus, if PoS voters vote against a particular PoW block, it invalidates the PoW reward (and Treasury reward) and invalidates any regular transactions within that block.
* Decred's process for [amending the consensus rules](consensus-rule-voting/overview.md) is also driven by stakeholder voting. The process begins when at least 95% of PoW miners and 75% of PoS voters have upgraded their software to a new version with latent changes to the rules. Once these conditions are met, a voting period of 8,064 blocks (~4 weeks) begins, to decide whether the latent rule changes should be activated.
* For a rule change proposal to be approved, at least 75% of the tickets not set to Abstain must vote Yes. If this requirement is met, and a quorum of 10% tickets voting Yes or No is achieved, then the rule change will be activated 8,064 blocks (~4 weeks) later.
Expand Down
2 changes: 1 addition & 1 deletion docs/img/decred_supply.svg
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.
2 changes: 1 addition & 1 deletion docs/img/decred_supply_dark.svg
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.
12 changes: 6 additions & 6 deletions docs/index.md
Original file line number Diff line number Diff line change
Expand Up @@ -15,14 +15,14 @@ Stakeholders make and enforce the blockchain's consensus rules, set a course for
To align incentives, block rewards are split between Proof-of-Work (PoW) miners, stakeholders and the Decred Treasury, which funds the project.

Subsidy | Party
--- | ---
10% | PoW Miners
80% | PoS Voters
10% | Decred Treasury
------- | -----
1% | PoW Miners
89% | PoS Voters
10% | Decred Treasury

[Proof of Work](mining/overview.md) miners play a similar role for Decred as they do for Bitcoin, but with Decred they only receive 10% of the block reward.
[Proof of Work](mining/overview.md) miners play a similar role for Decred as they do for Bitcoin, but with Decred they only receive 1% of the block reward.

[Proof of Stake](proof-of-stake/overview.md) voting is central to Decred's governance. Decred holders can time-lock (or "stake") DCR to obtain voting tickets. Tickets are randomly called to vote on-chain; this involves both approving the work of PoW miners and voting Yes/No on any open [rule change proposals](governance/consensus-rule-voting/overview.md). 80% of the block reward goes to the holders of the tickets that voted in that block.
[Proof of Stake](proof-of-stake/overview.md) voting is central to Decred's governance. Decred holders can time-lock (or "stake") DCR to obtain voting tickets. Tickets are randomly called to vote on-chain; this involves both approving the work of PoW miners and voting Yes/No on any open [rule change proposals](governance/consensus-rule-voting/overview.md). 89% of the block reward goes to the holders of the tickets that voted in that block.

The remaining 10% of the block reward goes into the [Decred Treasury](https://dcrdata.decred.org/address/Dcur2mcGjmENx4DhNqDctW5wJCVyT3Qeqkx). Holders of live tickets decide how that treasury is used through [Politeia proposals and voting](governance/politeia/overview.md).

Expand Down
Loading