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Specify block subsidy, miner subsidy, and Founders' Reward. 

Signed-off-by: Daira Hopwood <daira@jacaranda.org>
zips63.specify-founders-reward.0 2016.0-beta-1.4
Daira Hopwood 8 years ago
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  1. 150
      protocol/protocol.tex
  2. 6
      protocol/zcash.bib

150
protocol/protocol.tex
View File

@ -111,6 +111,9 @@
\newcommand{\hairspace}{~\!}
\newcommand{\hfrac}[2]{\scalebox{0.8}{$\genfrac{}{}{0.5pt}{0}{#1}{#2}$}}
\RequirePackage[usenames,dvipsnames]{xcolor}
% https://en.wikibooks.org/wiki/LaTeX/Colors#The_68_standard_colors_known_to_dvips
\newcommand{\todo}[1]{{\color{Sepia}\sf{TODO: #1}}}
@ -204,12 +207,17 @@
\newcommand{\BlockHeaders}{\titleterm{Block Headers}}
\newcommand{\blockVersionNumber}{\term{block version number}}
\newcommand{\blockTime}{\term{block time}}
\newcommand{\blockHeight}{\term{block height}}
\newcommand{\genesisBlock}{\term{genesis block}}
\newcommand{\transaction}{\term{transaction}}
\newcommand{\transactions}{\term{transactions}}
\newcommand{\Transactions}{\titleterm{Transactions}}
\newcommand{\transactionFee}{\term{transaction fee}}
\newcommand{\transactionFees}{\term{transaction fees}}
\newcommand{\transactionVersionNumber}{\term{transaction version number}}
\newcommand{\coinbaseTransaction}{\term{coinbase transaction}}
\newcommand{\coinbaseTransactions}{\term{coinbase transactions}}
\newcommand{\CoinbaseTransactions}{\titleterm{Coinbase Transactions}}
\newcommand{\transparent}{\term{transparent}}
\newcommand{\xTransparent}{\term{Transparent}}
\newcommand{\transparentValuePool}{\term{transparent value pool}}
@ -406,7 +414,6 @@
% Notes
\newcommand{\Value}{\mathsf{v}}
\newcommand{\ValueNew}[1]{\mathsf{v^{new}_\mathnormal{#1}}}
\newcommand{\MAXMONEY}{\mathsf{MAX\_MONEY}}
\newcommand{\NoteTuple}[1]{\mathbf{n}_{#1}}
\newcommand{\NoteType}{\mathsf{Note}}
\newcommand{\NotePlaintext}[1]{\mathbf{np}_{#1}}
@ -431,6 +438,32 @@
\newcommand{\DecryptNote}{\mathtt{DecryptNote}}
\newcommand{\ReplacementCharacter}{\textsf{U+FFFD}}
% Money supply
\newcommand{\MAXMONEY}{\mathsf{MAX\_MONEY}}
\newcommand{\BlockSubsidy}{\mathsf{BlockSubsidy}}
\newcommand{\MinerSubsidy}{\mathsf{MinerSubsidy}}
\newcommand{\FoundersReward}{\mathsf{FoundersReward}}
\newcommand{\SlowStartInterval}{\mathsf{SlowStartInterval}}
\newcommand{\SlowStartShift}{\mathsf{SlowStartShift}}
\newcommand{\SlowStartRate}{\mathsf{SlowStartRate}}
\newcommand{\HalvingInterval}{\mathsf{HalvingInterval}}
\newcommand{\MaxBlockSubsidy}{\mathsf{MaxBlockSubsidy}}
\newcommand{\NumFounderAddresses}{\mathsf{NumFounderAddresses}}
\newcommand{\FounderAddressChangeInterval}{\mathsf{FounderAddressChangeInterval}}
\newcommand{\FoundersFraction}{\mathsf{FoundersFraction}}
\newcommand{\BlockHeight}{\mathsf{height}}
\newcommand{\Halving}{\mathsf{Halving}}
\newcommand{\FounderAddress}{\mathsf{FounderAddress}}
\newcommand{\FounderAddressList}{\mathsf{FounderAddressList}}
\newcommand{\FounderAddressIndex}{\mathsf{FounderAddressIndex}}
\newcommand{\ScriptHash}{\mathsf{ScriptHash}}
\newcommand{\blockSubsidy}{\term{block subsidy}}
\newcommand{\minerSubsidy}{\term{miner subsidy}}
\newcommand{\foundersReward}{\term{Founders' Reward}}
\newcommand{\slowStartPeriod}{\term{slow-start period}}
\newcommand{\halvingInterval}{\term{halving interval}}
% Signatures
\newcommand{\Sig}{\mathsf{Sig}}
\newcommand{\SigPublic}{\mathsf{Sig.Public}}
@ -820,9 +853,11 @@ The symbol $\bot$ is used to indicate unavailable information or a failed decryp
The following integer constants will be instantiated in \crossref{constants}:
$\MerkleDepth$, $\NOld$, $\NNew$, $\MerkleHashLength$, $\hSigLength$,
$\PRFOutputLength$, $\NoteCommitRandLength$, $\RandomSeedLength$, $\AuthPrivateLength$,
$\NoteAddressPreRandLength$, $\MAXMONEY$. The bit sequence constant
$\Uncommitted \typecolon \bitseq{\MerkleHashLength}$ will also be defined in
that section.
$\NoteAddressPreRandLength$, $\MAXMONEY$, $\SlowStartInterval$, $\HalvingInterval$,
$\MaxBlockSubsidy$, $\NumFounderAddresses$.
The bit sequence constant $\Uncommitted \typecolon \bitseq{\MerkleHashLength}$
and the rational constant $\FoundersFraction \typecolon \Rat$ will also be defined
in that section.
\nsection{Concepts}
@ -1032,21 +1067,26 @@ the \fullnode's \blockchainview, the containing transaction will be rejected, si
it would otherwise result in a double-spend.
\nsubsection{Coinbase Transactions}
\nsubsection{Block Subsidy and Founders' Reward} \label{subsidyconcepts}
The first \transaction in a block must be a \coinbaseTransaction, which should
collect and spend any block reward and transaction fees paid by \transactions
included in this block.
Like \Bitcoin, \Zcash creates currency when \blocks are mined. The value created on
mining a \block is called the \blockSubsidy. It is composed of a \minerSubsidy and a
\foundersReward. As in \Bitcoin, the miner of a \block also receives \transactionFees.
\nsubsubsection{Block Subsidy and Transaction Fees}
The amount of the \blockSubsidy and \minerSubsidy depends on the \blockHeight.
The \blockHeight of the \genesisBlock is 0, and the \blockHeight of each subsequent \block in
the \blockchain increments by 1.
\todo{Describe money supply curve.}
\todo{Miner's reward = transaction fees + block subsidy - founder's reward}
The calculations of the \blockSubsidy, \minerSubsidy, and \foundersReward for a
given \blockHeight are given in \crossref{subsidies}.
\nsubsubsection{Coinbase outputs}
\todo{Coinbase maturity rule.}
\todo{Any tx with a coinbase input must have no \transparent outputs (vout).}
\nsubsection{\CoinbaseTransactions}
The first \transaction in a block must be a \coinbaseTransaction, which should
collect and spend any \minerSubsidy and \transactionFees paid by \transactions
included in this \block. The \coinbaseTransaction must also pay the \foundersReward
as described in \crossref{coinbases}.
\nsection{Abstract Protocol}
@ -1857,9 +1897,14 @@ Define:
\item[] $\NoteCommitRandLength \typecolon \Nat := \changed{256}$
\item[] $\changed{\RandomSeedLength \typecolon \Nat := 256}$
\item[] $\AuthPrivateLength \typecolon \Nat := \changed{252}$
\item[] $\NoteAddressPreRandLength \typecolon \Nat := \changed{252}$
\item[] $\changed{\NoteAddressPreRandLength \typecolon \Nat := 252}$
\item[] $\Uncommitted \typecolon \bitseq{\MerkleHashLength} := \zeros{\MerkleHashLength}$
\item[] $\MAXMONEY \typecolon \Nat := \changed{2.1 \mult 10^{15}}$ (\zatoshi)
\item[] $\SlowStartInterval \typecolon \Nat := 20000$
\item[] $\HalvingInterval \typecolon \Nat := 840000$
\item[] $\MaxBlockSubsidy \typecolon \Nat := 1.25 \mult 10^9$ (\zatoshi)
\item[] $\NumFounderAddresses \typecolon \Nat := \begin{cases} 48,&\!\!\text{on mainnet} \\ 3,&\!\!\text{on testnet} \end{cases}$
\item[] $\FoundersFraction \typecolon \Rat := \frac{1}{5}$.
\end{itemize}
@ -2903,6 +2948,79 @@ Unlike \Bitcoin, the difficulty adjustment occurs after every block.
\todo{Describe the algorithm.}
\nsubsection{Calculation of Block Subsidy and Founders' Reward} \label{subsidies}
\crossref{subsidyconcepts} defines the \blockSubsidy, \minerSubsidy, and \foundersReward.
Their amounts in \zatoshi are calculated from the \blockHeight using
the formulae below. The constants $\SlowStartInterval$, $\HalvingInterval$,
$\MaxBlockSubsidy$, and $\FoundersFraction$ are instantiated in \crossref{constants}.
\vspace{2ex}
\hskip 1em $\SlowStartShift \typecolon \Nat := \hfrac{\SlowStartInterval}{2}$
\hskip 1em $\SlowStartRate \typecolon \Nat := \hfrac{\MaxBlockSubsidy}{\SlowStartInterval}$
\hskip 1em $\Halving(\BlockHeight) := \floor{\hfrac{\BlockHeight - \SlowStartShift}{\HalvingInterval}}$
\hskip 1em $\BlockSubsidy(\BlockHeight) := \begin{cases}
\SlowStartRate \mult \BlockHeight,&\!\!\text{if } \BlockHeight < \hfrac{\SlowStartInterval}{2} \\[1.4ex]
\SlowStartRate \mult (\BlockHeight + 1),&\!\!\text{if } \hfrac{\SlowStartInterval}{2} \leq \BlockHeight < \SlowStartInterval \\[1.4ex]
\floor{\hfrac{\MaxBlockSubsidy}{2^{\Halving(\BlockHeight)}}},&\!\!\text{otherwise}
\end{cases}$
\hskip 1em $\FoundersReward(\BlockHeight) := \begin{cases}
\BlockSubsidy(\BlockHeight) \mult \FoundersFraction,&\!\!\!\text{if } \BlockHeight < \SlowStartShift + \HalvingInterval \\
0,&\!\!\!\text{otherwise}
\end{cases}$
\hskip 1em $\MinerSubsidy(\BlockHeight) := \BlockSubsidy(\BlockHeight) - \FoundersReward(\BlockHeight)$.
\nsubsection{Coinbase outputs} \label{coinbases}
\todo{Coinbase maturity rule.}
\todo{Any tx with a coinbase input must have no \transparent outputs (vout).}
The \foundersReward is paid by a \transparent output in the \coinbaseTransaction, to
one of $\NumFounderAddresses$ \transparent addresses, depending on the \blockHeight.
Let $\SlowStartShift$ be defined as in the previous section.
\renewcommand{\arraystretch}{0.95}
For mainnet, $\FounderAddressList_{\mathrm{1}..\NumFounderAddresses}$ is \todo{}.
For testnet, $\FounderAddressList_{\mathrm{1}..\NumFounderAddresses}$ is:
\begin{tabular}{@{\hskip 2.5em}l@{\;}l}
[& \ascii{2N2e2FRfP9D1dRN1oRWkH7pbFM69eGNAuQ4}, \\
& \ascii{2N34hYM1s153468KeHZU8Ts3acHiaatrrAj}, \\
& \ascii{2MtnWxFk3WQL2ry9eq9HdnFo3VhDv8kFEuA}\, ]
\end{tabular}
\renewcommand{\arraystretch}{1}
Define:
\begin{itemize}
\item[] $\FounderAddressChangeInterval := \ceiling{\hfrac{\SlowStartShift + \HalvingInterval}{\NumFounderAddresses}}$
\item[] $\FounderAddressIndex(\BlockHeight) := 1 + \floor{\hfrac{\BlockHeight}{\FounderAddressChangeInterval}}$.
\end{itemize}
Then the \foundersReward for \blockHeight $\BlockHeight$ \MUST be paid to
the address with Base58Check representation given by
$\FounderAddressList_{\,\FounderAddressIndex(\BlockHeight)}$, provided that
$\BlockHeight < \SlowStartShift + \HalvingInterval$. No \foundersReward is required
to be paid for $\BlockHeight \geq \SlowStartShift + \HalvingInterval$ (i.e. after
the first halving).
Each address representation in $\FounderAddressList$ denotes a \transparent
P2SH multisig address. The payment \MUST be performed using a P2SH script
of the form \ScriptOP{HASH160} \;$\ScriptHash$\; \ScriptOP{EQUAL},
where $\ScriptHash$ is the standard redeem script hash for the given
P2SH multisig address \cite{Bitcoin-Multisig}.
\nsection{Differences from the Zerocash paper} \label{differences}
\nsubsection{Transaction Structure} \label{trstructure}
@ -3318,6 +3436,8 @@ The errors in the proof of Ledger Indistinguishability mentioned in
\subparagraph{2016.0-beta-1.4}
\begin{itemize}
\item Specify the \blockSubsidy, \minerSubsidy, and the \foundersReward.
\item Specify \coinbaseTransaction outputs to \foundersReward addresses.
\item Improve notation (for example ``$\mult$'' for multiplication and
``$\typeexp{T}{\ell}$'' for sequence types) to avoid ambiguity.
\end{itemize}

6
protocol/zcash.bib
View File

@ -248,6 +248,12 @@ Received \mbox{April 13,} 2011.}
urldate={2016-08-13}
}
@misc{Bitcoin-Multisig,
title={P2SH multisig (definition) --- {B}itcoin {D}eveloper {R}eference},
url={https://bitcoin.org/en/developer-guide#term-p2sh-multisig},
urldate={2016-08-19}
}
@misc{BIP-62,
author={Pieter Wuille},
title={Dealing with malleability},

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