Gridcoin: PoS kernel v8 (in effect in 9 days) and the 35% magnitude boost (in effect since 3 weeks)

[Erkan-Yilmaz]

• effects of the Gridcoin PoS stake v8 kernel
• when does the 35% magnitude boost end?

effects of the Gridcoin PoS stake v8 kernel:

There was some discussion on IRC about the upcoming Stake V8 kernel (which gets into effect at block 1010000, in about 9 days).

So, let's summarize some of the points:

• Stake-v8 will not change your PoR reward (your magnitude determines how much you are owed in terms of PoR)
  • but the staking frequency
• V8 will make it harder to stake for researchers. Exactly how much harder is hard to say (but the magnitude will not affect the stake weight anymore)
• other side of the coin:
  • you are no longer competing against other peoples' magnitude when trying to stake blocks

So, what do we lose then?

• Worst case is you're missing out on a tiny amount of interest on that payment.
• So if you end up 8 GRC staking once a day instead of 4 GRC twice a day:
  • you are missing out on 1.5% annual interest on those 4 GRC. Around 0.00008 GRC.
• You're missing out on 12h of interest to be correct. Probably less due to maturity.

It was also pointed out that it would be seemingly better for less-rich miners to join a pool

ideas:

• There are ideas to use superblocks instead of block stakes to reward researchers. That would be elegant and fair, and it would allow newbies to get rewarded much, much faster.
• Tomáš @tomasbrod also has an idea regarding staking with a beacon but I don't know the details of that.

read more:

• wiki

ACK:

• I summarized/copied above mostly what @denravonska stated. He is available if anyone has any questions, though Tomáš @tomasbrod is probably the one to ask first.

35% magnitude boost (September 7/8):

The new 3.6.0.1 version brought this change:

It seems that on September 7/8 you won't be getting the 35% magnitude boost anymore.

And the following picture tells you why I think you should stake until then a lot:

We are currently at line 11, and to get the same $GRC you'd need more than 0.225 magUnit without boost, and I don't remember having such a value in long time

(A)
actually this is:
Research_Age * Magnitude * Magnitude_Unit
Research_Age is the time from the last Proof-of-Research block the CPID staked in days

see also:

• Gridcoin Superblock Dev Update
• comment

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