Summary: Currently, about ~650 Lynx are distributed to miners each day, not including additional transaction fees. In the near future, this number will increase to ~2700 Lynx per day plus fees.
Detail: The following 7 charts show the immature coin count on 7 mining nodes (randomly picked from our mining array). These nodes have 2 CPU with 2GB of RAM running in the cloud on the Scaleway.com platform. Since Lynx has a 20,000 block maturation period before mined coins can be spent, a rolling balance naturally will occur on the stable node. Below, you can see the balance growing till it hits the 20,000 threshold (the chart data does not show the the full range of the 20,000 block time) and coins become mature and start dropping off the chart. Currently the block time is slow so 20,000 blocks requires about 1 month to pass. It looks to be an average of about ~450 immature Lynx will be held until the maturity period comes to an end. If you look at the daily Overview chart here, you can see the total number of coins that are paid out on a daily basis to miners – but that does NOT include the additional fees paid to miners due to the increased transaction volume from the Logware platform.
Two expected changed to the Lynx network are expected at this point in time;
- The block time will get faster. When the network is running at full speed, the target block time of 30 seconds will be reached. This will result in an average daily block count of ~2700 blocks. Obviously, mining rewards will be higher as a result of this – as there will be more blocks to go around to all the miners. Proof this can work can be found on our Testnet, which mirrors all the functions of our Mainnet.
- The additional miner fees paid with each block will increase. This means the the likelihood a miner earns more than 1 Lynx with a mined block increases. This is a result of the Logware API that places transactions volume on the Lynx network. Logware pays higher miner fees than the default price acting as an incentive to include Logware transactions in their blocks.
Lynx is an open source GreenTech project that runs underneath a private for-profit business (Logware). The security and value of Lynx is not determined by how much electricity and natural resources the global network consumes (and wastes) but instead the the value of the network as it used by applications such as Logware.
If an individual is motivated to get better mining returns, the best way to do it is to create a large number of independent VPS nodes in the cloud using the Lynx Cryptocurrency Installer (LynxCI). By replacing the ‘mineraddress’ parameters with unique addresses per node (we recommend 100 per node) and storing this funded addresses (1000 Lynx in each address) in a local wallet like Coinomi, the miner can do quite well at winning blocks. The side effect of this work will be more secure and faster block times on the network.