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Proposal: ECIP-1017 #20

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merged 19 commits into from Jan 19, 2017
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Update ECIP-1017.md

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snaproII committed Nov 21, 2016
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### Abstract
This ECIP proposes a solution to the Ethereum Classic Monetary Policy to adjust, with finality, the current emission schedule implementation of 14.0625ETC per block, in perpetuity. The solution proposed introduces a theoretical upper bound on the maximum absolute number of ETC and introduces a method of degraded emission over time. In addition, this ECIP describes the requirements associated with maintaining this emission schedule through a potential change of the network’s consensus algorithm, from its current Ethash based Proof of Work to a possible POS or POW/POS hybrid model.
This ECIP proposes a solution to the Ethereum Classic Monetary Policy to adjust, with finality, the current emission schedule implementation of 14.0625ETC per block in perpetuity. The solution proposed introduces a theoretical upper bound on the maximum absolute number of ETC and introduces a method of degraded emission over time. In addition, this ECIP describes the requirements associated with maintaining this emission schedule through a potential change of the network’s consensus algorithm, from its current Ethash based Proof of Work to a possible POS or POW/POS hybrid model.
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@@ -131,7 +131,7 @@ Why this 5M20 model:
* Because the rate at which uncled blocks can vary with extreme, reducing the reward for uncle blocks assists considerably with being able to forecast the true upper bound of the total ETC that will ultimately exist in the system.
* The model is the best attempt at balancing the needs to incentive high risk investment into the system in order to bootstrap security and create a potential user base, be easy to understand, include a reduction to the rate of production of ETC over time, include an upper bound on supply, and also provide for a long term production of the ETC token.
* The model is the best attempt at balancing the needs to incentivize high risk investment into the system in order to bootstrap security and create a potential user base, be easy to understand, include a reduction to the rate of production of ETC over time, include an upper bound on supply, and also provide for a long term production of the ETC token.
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