PLUGChain: Core Features Explained

Walkthrough on Plug Chain Core Features:

For users that are more into visual learning, you can visit our YouTube Playlist here:
https://www.youtube.com/watch?v=0jyR_78grRs&list=PL_D7-A9LxH_pcVzcgTLoWQ_MCcLQnhdZm&ab_channel=OfficialPLUGChain

Will bandwidth affect Plug Chain TPS?

- The relationship of bandwidth and TPS determines the transaction per second, the 1st factor is the block generated speed, 2nd factor is the speed of consensus. These 2 factors will be key to determine TPS of the chain. Overall, Bandwidth speed do affect TPS of the chain, but it doesn’t play a decisive role

Qualification needed for PLUG Verifier Node

- To become a validator, 1st A mature tech team is needed with a total sum of 2–3 people. 2nd criteria is definitely on your active community, 3rd criteria is the sum of staked tokens.

PLUG token Vesting period Explained

- Let’s say, PLUG is listed on exchanges, all existing tokens that are in the hands of the community will be flooded into the market, which will cause a flash dip upon listed, so we all know this is not tangible. Thus, how to prevent such incident from happening is we will have a locking period. Upon maturity, locked tokens will be released gradually into the market, only when unlocked and sold into the market, then can we calculate these tokens as current liquidity.

How fast can PLUG Chain TPS go?

- Current theoretical value is between 10,000 and 50,000. Thus, our motto that we declare in the APP on high scalability in comparison to all the other public chains the speed is already okay. With this current TPS that ranges between 10,000 to 50,000, we might even be able to boost it up over these values with increasing of server bandwidth we can achieve peak performance for PLUG chain.

Inflation rate in real-life vs Plugchain

- Inflation example. 10 years ago, you had 10,000 dollars. 10 years later at present, this amount of money will have significant lesser purchasing power than 10 years ago. But what caused the dip in the purchasing power of the 10,000? The reason is that during these 10 years, market was constantly being flooded with new money imprinted.

- POS stands for Proof of stake, lets take a mining scenario. You had staked in 10,000 tokens, your ratio in the mining pool is constantly dropping, however as the pool is constantly growing, your token sums will be able to redeem higher quantity. The formula for your token’s redeem sum will be 10,000 * X where X is in accordance to the pool total staked token ratio, this sum will be renewing every 5 seconds whenever a new block is formed. So, in this scenario do you realize that your token value is increasing too? Let’s calculate our token values in this case, lets take token price at 0.2 USD, when the token ratio increased, market worth might not increase but token sum that is redeemable had increased, so that’s how inflation rate occurs. We classified daily mined token as inflation rate when compared with token value.

PLUG verifier Node Incentive program

- How should mining process be carried out? Can be done via our algorithm in verifier node. A verifier node has several benefits. First benefit is getting tokens as a reward, so how do these rewards get calculated? Every block generated after mining will payout rewards in accordance with the verifier node based on total stake token in mining pool before redistributed out.

- Second benefit is profit generated from transaction profits (Gas fee that’s paid when doing transaction from blockchain, every time a transaction occurred, a small amount of gas fee will be required to pay the nodes.

- Third benefit whereas any transaction that happens on PLUG chain’s ecosystem will benefit verifier node.

- The fourth benefit is that for verifier node they can self-set the transaction amounts for transaction gas. But of course, it’s not like transaction amount can be randomly set as the node likes per edit on transaction fees can only fluctuate around 1% of. So, for example the existing GAS is 0.1 per transaction we can either increase it to 0.2 or we can decrease it to 0. Of course, if its 0 that will mean any transaction will not incur any GAS fee at all.

What is PLUG inflation rate and how it benefits you!

- The ratio of staked token in mining pool vs total supply range is about 7–20%. In the ideal state it should be 2/3 of the stake sum vs total supply, in this case inflation rate will be 7%. However, if its 1/3 of the stake sum vs total supply, inflation rate will hit 20%.

- PLUG max token supply is 100 billion, if we use an average of 13% yearly inflation rate, the calculation will be (X=Y*1.13¹⁵). Where X = Total Quantity Supplied, Y = Initial Quantity Supplied, the ^15 in the formula refers to the number of years needed to finish mining which in this case is 15 years.

PLUG Mining Incentive Explained

- Assume every 5 sec will mine out a block, we can calculate daily mined out block as 17,280. Using this total sum, we multiple each mining bonus of 320 and we will get the total daily mined tokens as 17,280*320 = 5.5 million. So as a verifier node, we can use the above sum to calculate our returns. By dividing the total token staked on our node vs total mined token to calculate our ratio. Of course, having more token staked on nodes will earn us more returns. The question is where does all these initial tokens come from? Well for contributors that help us at main net prelaunch will be awarded with tokens. Also, for contributors that found bug during testing at test net will be awarded tokens too. Another way of acquiring tokens is during private sale of PLUG NODE will be like the Golden egg laying hen, simply add some tokens inside to let it generate more tokens. Final way is to acquire from community as the community will receive tokens from example: Airdrop, AMA, Events.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Official Plug Chain™

An open-source layer 0 blockchain with a low gas fee ($PLUGCN) & high performance, Plug Chain’s designed for cross-chain usage with strong Asia Tech community.