The wormhole was one of the rare and most beloved features of EMC2. It created heightened anticipation for big block rewards. It attracted the mining community and traders alike, and ultimately inspired crypto developers to determine Wormhole range. Driven by our past experience with EMC2 wormhole, we developed new wormhole algorithm for MIL with several new features that will reward loyal miners and keep network safe and steady at same time.
Wormhole is event during which block rewards are significantly higher than the standard ones. Here are more details regarding wormhole V2:
Block mining will be split into 296 epoch where wormhole will occur only once per epoch (except first epoch where there will be no wormhole event).
One epoch last for 36000 blocks.
Start of the wormhole event during the epoch will be decided pseudo-randomly.
Once wormhole starts it will last for 8640 blocks (~6 days).
During the wormhole block reward will start to increase and it will reach 432 times regular block reward on the middle of the wormhole event. Then it will start decreasing again to reach regular block reward when wormhole ends.
During the wormhole each mined block will have 16% chance to be the premium one (high reward) all others will still have regular reward.
Here how it all will works on simulations we ran past few days, where X axis represents block height and Y axis block reward:
Wormhole V2 simulation: One epoch of 36000 blocks where wormhole started on block 57921 (21921st block of the epoch). We can se how reward drastically increase during the wormhole period.
Wormhole V2 simulation: Graph that is showing more closely just one wormhole event with block rewards.
Wormhole V2 simulation: Graph showing start of the wormhole event. Here we can better see not all block are getting the high reward and probability for block to hit the premium is 16%.
Wormhole V2 simulation: Zoomed in graph to display 100 mined blocks and their rewards during wormhole event.
We hope you are all excited as we are and we can’t wait to see it in action on our new MIL coin network.
Einsteinium Developers