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Authority Nodes | ||
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TODO | ||
Papyrus Network is operated by Authority Nodes, which provide their hardware capacities to run Papyrus Network software, which implements Papyrus Network protocol. Authority Nodes are operated by identified business entities and are elected by other Authority Nodes according to established network governance model (see http://docs.papyrus.network/en/latest/doc/network_architecture.html for more details). | ||
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Papyrus Network protocol allows up to 47 Authority Nodes to be a part of the network. | ||
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In exchange for maintaining network operations Authority Nodes get mining rewards equal to 1.5*K PPR tokens per block, where K = {AMOUNT OF AUTHORITY NODES}/47. | ||
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PPR token is a native token of Papyrus Network required to allocate network resources to execute transactions. | ||
There are 1 000 000 000 PPR tokens distributed at the genesis block, and according to mining rewards schedule annual inflation is limited with a maximum amount of new tokens equal to 60*60*24*365*1.5*(47/47)= 47 304 0000 PPR, ie < 5% of total emission. | ||
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Initially Papyrus Network mainnet is launched with 5 Authority Nodes chosen by Papyrus. After the launch election procedures become active and existing Authority Nodes elect new Authority Nodes. | ||
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If you would like to run an Authority Node and receive mining rewards in Papyrus Network, you can apply here: | ||
https://papyrusglobal.typeform.com/to/Va9wX5 | ||
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Instruction on how to set up a node can be found here: | ||
https://github.com/papyrusglobal/papyrus |