Announcement on Reducing Block Processing Rewards of YOYOW Block Producers
Dear YOYOW community users:
As the market in the blockchain industry picks up and the release of YOYOW Mainnet 2.1 is approaching, upon discussion the YOYOW Committee has agreed to reduce the block processing rewards of block producers before and after the YOYOW Mainnet 2.1 is released. It is expected that this update will be completed in mid-to-late March of 2020.
This update will:
- Reduce the block processing rewards of POS block producers by 30%.
- Reduce the block processing rewards of DPOS block producers by 10%.
- Not change the content incentives.
The YOYOW Committee anticipates that this will inspire more community developers to build content platforms, enrich the YOYOW community ecology, reduce market pressure, and promote the healthy and stable development of the YOYOW economic model.
The YOYOW Committee does not rule out that as the market continues to pick up, the maintenance cost of block producers will be reduced, and the block processing rewards of block producers will continue to be reduced in the future.
YOYOW is a public blockchain for the content industry. Its goal is to build a blockchain network that uses a decentralized consensus approach to quantify contribution for content production area by using blockchain technology and enable content contributors, content supporters, content filterers and ecology facilitators to get reasonable rewards.
The YOYOW Committee
YOYOW Official Information
Official Website: https://yoyow.org/
Web Wallet: https://wallet.yoyow.org/
Blockchain Browser: https://explorer.yoyow.org
Twitter: https://twitter.com/InfoYoyow
