2.37 Elastic blocks
Our money works with a blockchain made out of… well, blocks chained together. Every block contains a list of the newest transactions made, when someone sent and someone received.
Monero Garden
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2.38 Spam attack!
It was a great idea to make our blocks change size with demand, that way our money network can remain lean and cheap to run during times of less use, and quick and useful when it becomes ...
2.39 Emission
We have already decided to use mining to release new coins for the users of our money and to ensure some scarcity so that our money doesn’t become eventually worthless ...
2.40 The long tail
We’re distributing our money in a way that looks like a curve. It starts at the beginning of our currency’s history when no coins were created yet, and goes into the future when eventually all the coins are out there in the hands of someone.
2.41 Asymptowhat?
If we choose to have a tail emission in our money after the initial emission curve, it means that technically the amount of coins is going to be infinite ...
2.42 Fees
We have a nice looking, decentralized beauty of a money network going on. Now, getting serious and in legalese: how are we covering the costs of maintaining such infrastructure? We have basically two different participants on our network: the miners and the nodes.
2.43 A couple of minutes
We’re designing a system that is decentralized, but one thing that is always difficult to do when we have a group of different people is to coordinate ...
2.44 Balancing act
We need a mechanism to coordinate miners to make new blocks every two minutes. And we cannot rely on any centralized clock to tell us the time, so what can be do? Well, remember that the way we picked which miner got the price and could write the next block was by making them all do crazy hard math calculations until one of them got it right before the others? Well, that outcome is pretty random,…
2.45 Transaction limbo
We have users who want to send the money from one address to another, miners who will write those into new blocks, and nodes who will store a copy of that list with transactions just in ...
2.46 Fork this
We have a system set up where (hopefully) a lot of different nodes and miners work with their own individual interests at heart, and almost magically sharing a common goal of maintaining ...