What Is Venus LINK (vLINK)?
The profitable node is a registered node that can obtain the rewards of voting. Anyone can access the EOSC mainnet to become a profitable node and share 10% of block reward according to the proportion of weighted votes. DPOS-based blockchain system need to be operated and maintained by multiple BPs. If there are BPs fault or do evil, the security and stability of the system will be threatened.
Venus LINK mainnet established a Node Punishment Mechanism for the purpose of ensuring the security and stability of the system more effectively, eliminating evil nodes and passive nodes, electing the nodes that can truly serve the community and support the system operation.
After the proposal has passed the publicity period, the proposer will get the Venus LINK tokens applied for in the next block award to implement the proposal content. During the reward payment period, the management committee and the profitable nodes are greater than one-third of the veto, and the proposal award can be suspended.
Venus LINK Storage Key Points
|Coin Name||Venus LINK|
|Circulating Supply||30,907,312.00 vLINK|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
According to rules of block rewards distributing, block producers can receive 10% of block rewards, which are not distributed by block producers, but by the weight of block-generating age (the continuous time of block-generating).Specifically, EOSC main net put forward the concept of “Block producers Stability”. The initial value of BP stability is 0. If there is no block missing within each cycle of 600 blocks, 1 will be added. The maximum is 3800. There will be no value added if it reaches 3800.
Venus LINK Once there is block missing, the value will be reset to 0. The Stability of Block Producer is related to the weight of BP rewards. The weight will be higher if blocking-generating is persistent and stable. In the case of generating same blocks, the higher stability the more node rewards.
The node needs to provide a part of tokens as a deposit to become BP. Venus LINK The deposit will be deducted for the block missing of BP, and twice the deposit of the reward of the block will be deducted for each missed block. If the deposit is under the minimum amount set by the system, there will be no block-generating reward, and the node will not be allowed to join the election of BP.If the deposit is deducted to a minus when generating blocks and no supplement is offered, there will be no reward for all users voted to this node and no income for the node.
After the node has continuously missed more than 9 blocks, anyone can initiate the multi-sig proposal to punish the frozen node. The penalty will be divided by the user who proposed the multi-sig punishment and top 16 block-generating nodes which agree with the multi-sig punishment. (20% for initiator, agreed to sign more than 80%). A deposit of 100 Venus LINK is required for the proposal of multi-sig punishment.
After 14400 block heights, the deposited token can be returned whether the proposal is adopted or not.The frozen block node enters one-hour observation period during which user voting without mining reward, and nodes do not have any reward neither. After the observation period, BP can apply for a normal status to participate in the normal election and make normal mining profits.
Decentralized Budget System on The Chain
The decentralized Budget System on the chain of EOSC mainnet provides budget support to community contributors and developers that anyone can initiate a budget proposal and will be approved by the decentralized budget management committee. The long-term sustainable development of blockchain can be achieved.
Venus LINK After the proposal is approved by the management committee, there will be a 14-day publicity period. If more than one-third of the profitable nodes are opposed during the publicity period, the proposal can be rejected. If the proposal is not rejected during the publicity period, the system will automatically issue the award to the applicant’s account on a monthly basis after the publicity period.