Enecuum Referral Program and Miner Rewards
Due to a big amount of questions from the community, we decided to bring you a public article explaining the methods of the referral system’s inner workings and shedding more light on the reward system for miners.
As of November 12th, the Enecuum TestNet has 1277 nodes, 4310 accounts, 9 510 145 ENQ is engaged in staking.
Now all three types of nodes work in the Enecuum TestNet, but only PoA and PoW receive the award, and only PoA are available for users to download.
As of the writing of this article, the reward for a macroblock generation is 4 ENQ, not accounting for the rewards made from the referral program.
A macroblock consists of 1 k-block and at least 1 microblock. The amount of microblocks in a single macroblock is not limited.
PoW miners compete for the generation of the k-block. Each k-block can only be generated by a single PoW miner.
Microblocks are generated by PoA miners independently from each other. Each PoA miner can generate an unlimited amount of microblocks in a single macroblock.
Each PoA miner can only have a single referral agent and have an unlimited number of miners as his referrals.
An agent receives his program rewards only if his balance surpasses or equals 1000 ENQ. In other cases, the referral rewards go straight to the Genesis block.
A few important details to note: every PoA miner receives a referral reward proportional to his stake, and a new microblock is generated every 15 seconds.
Let’s put things into perspective. As was stated above, every miner receives a referral reward proportional to his stake. Let’s imagine a situation where the entire TestNet only has 3 miners. All of them have made it into the macroblock in the following order:
Now, let’s develop this idea a bit. Let’s assume that miner B is a referrer to miner C. In that case, C receives a referral’s reward (10% of the macroblock reward) proportionally to his stake while B earns an agent’s reward (10%). If the referral rewards aren’t distributed among the PoA nodes, the remainder of the referral rewards goes straight to the Genesis block.