Hello PIRL Community!
After long anticipation block 2,000,000 was reached on 2018-08-24 07:50:58 UTC
With reaching this milestone for PIRL network Phase 1 of the Monetary policy implementation was activated:
Phase 1 reduces the total block reward with 2 PIRL / block while decreases the miners reward from 10 PIRL / block to 6 PIRL / block and increases the masternode rewards from 1 to 3 PIRL / block.
The rewards for the currently active tier “Premium Masternode” network have doubled from 1 PIRL / block to 2 PIRL / block.
What do we do with the additional 1 PIRL / Block reward until the other masternode tiers are activated?
This is the questions we would like to discuss and decide together. As for now this reward is accumulating and is not being used for anything.
The decision about its faith will be taken together with PIRL community. During the next issue of the Pirl Roundtable we will initiate discussion that will ultimately lead to taking a decision about this matter before second week of September.
What else happened with reaching block 2,000,000 milestone ?
The difficulty algorithm was adjusted for increased dynamic in the response to fluctuating nethash, more details can be found here – https://pirl.io/blog/pirl-difficulty-algorithm
With reaching the milestone we have initiated stress testing and are currently monitoring the situation.
At this exact time the results are not satisfying and we are looking into collecting information for further adjustments and fine tuning.
We hope to see you all in saturday!