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Signal non-final status of base reward and desired issuance goal

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vbuterin 2019-04-20 01:45:18 -05:00 committed by GitHub
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specs/core/0_beacon-chain.md
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@ -241,7 +241,7 @@ These configurations are updated for releases, but may be out of sync during `de
| `INACTIVITY_PENALTY_QUOTIENT` | `2**24` (= 16,777,216) |
| `MIN_PENALTY_QUOTIENT` | `2**5` (= 32) |
* The `BASE_REWARD_QUOTIENT` parameter dictates the per-epoch reward. It corresponds to ~2.54% annual interest assuming 10 million participating ETH in every epoch.
* **The `BASE_REWARD_QUOTIENT` is NOT final. Once all other protocol details are finalized it will be adjusted, to target a theoretical maximum total issuance of `2**21` ETH per year if `2**27` ETH is validating (and therefore `2**20` per year if `2**25` ETH is validating, etc etc)**
* The `INACTIVITY_PENALTY_QUOTIENT` equals `INVERSE_SQRT_E_DROP_TIME**2` where `INVERSE_SQRT_E_DROP_TIME := 2**12 epochs` (~18 days) is the time it takes the inactivity penalty to reduce the balance of non-participating [validators](#dfn-validator) to about `1/sqrt(e) ~= 60.6%`. Indeed, the balance retained by offline [validators](#dfn-validator) after `n` epochs is about `(1 - 1/INACTIVITY_PENALTY_QUOTIENT)**(n**2/2)` so after `INVERSE_SQRT_E_DROP_TIME` epochs it is roughly `(1 - 1/INACTIVITY_PENALTY_QUOTIENT)**(INACTIVITY_PENALTY_QUOTIENT/2) ~= 1/sqrt(e)`.
### Max operations per block