ICPS.Fun
The Next Generation of Fair Mining Model
ICP’s Consensus with PoW Mechanism (PoUSW)
—Proof of Useful Stake & Work——
-TIcker: ICPS
-Token Canister: ypkpu-uaaaa-aaaam-adihq-cai
What is ICPS.Fun?
ICPS.fun is the first PoUSW (Proof of Useful Stake and Work) mining platform running on the ICP blockchain. It combines classic Proof of Stake with innovative Proof of Work, offering a unique mining approach. Leveraging the Internet Computer’s architecture, ICPS.fun delivers an efficient and low-cost mining experience, enabling users to participate easily and earn substantial block rewards.
How does ICPS.Fun work?
ICPS.fun operates on the PoUSW model, merging the benefits of Proof of Stake (PoS) and Proof of Work (PoW) with a task-driven system, creating a highly efficient and fair mining process:
- Token Rewards: Each block reward is 10 ICPS.
- Total Supply: The total supply of ICPS is 10 million.
- Halving Cycle: Block rewards halve every 150,000 blocks, with the first halving occurring approximately 69 days after the start.
- Target Block Speed: On average, 1 block is produced every 40 seconds.
- No Pre-Mining: All token rewards are obtained through mining, ensuring fairness.
| Parameter | Value |
|---|---|
| Total Supply | 10,000,000 ICPS |
| Initial Block Reward | 10 ICPS/block |
| Halving Cycle | Every 150,000 blocks |
| Halving Time | Approximately 69 days (2.3 months) |
| Block Speed | 40 seconds/block |
| Daily Blocks | 2,160 blocks |
| Initial Daily Reward | 21,600 ICPS |
Mining Details of ICPS.Fun
Mining on ICPS.fun is simple and efficient. At the start of each mining cycle, the main node issues challenges to all miners. Miners solve these challenges by calculating hash values to earn block rewards. Mining difficulty adjusts automatically to maintain an average block production time of around 40 seconds.
Basic Mining Process
- Initial Parameter on Miner Creation: Hash Power: When a miner is created, a random number
hash_poweris generated as the miner’s initial hash power, determined by a normal distribution ranging between 2500 and 3500, a key factor in mining efficiency. - Random Number Generation: The miner’s canister continuously generates random numbers (
random_number) used in the mining process. Each calculation is based on the current random number and hash power, repeatedly attempting mining. - Stake Mechanism: Each mining machine can stake ICPS. Once staking is activated, a
staking_numberis generated, and the mining power begins to increase after 100 blocks. Starting from block height 2000, thestaking_poweris set to 5 and decreases by 10% every 1000 blocks thereafter, until thestaking_powerreaches 1, where it will remain unchanged. If a withdraw is performed, all staked ICPS will be automatically returned to the user’s address after 100 blocks, and thestaking_numberwill reset to 0.
staking_number = icps_number * staking_power
Calculation Formula and Rewards
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Calculation Formula: During mining, the miner calculates the score
pointsusing the formula:points = (hash_power + staking_number) * random_number -
Block Generation Condition: Each epoch lasts 40 seconds. At the end of each epoch, a random canister from the top one-third of those that submitted the highest points during that epoch will be selected as the reward miner and receive the block reward. Additionally, the stake amount cannot exceed 50% of the miner’s power to ensure fairness and sustainability in mining. This system ensures that all miners have a fair opportunity based on effort and staking.
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Block Generation Probability: The higher the initial
hash_powerof the mining machine and the greater the stakedstaking_number, the higher the probability of mining success. -
Dynamic Threshold: The threshold adjusts dynamically based on the number of miners and network conditions to ensure fairness.
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Halving Cycle: Block rewards halve periodically to simulate the classic halving model.
Mining Costs
Mining Cost: On ICPS.fun, it costs 1 ICP to start a Miner.
How to Start Mining
- Access Account ID: Visit ICPS.Fun, navigate to “Vault” to find your Account ID.
- Fund Your Account: Deposit ICP into your Account ID.
- Activate Mining: Go to the Mining page and click “New Miner” to start mining ICPS.
Staking for Boost your Miner
- Acquire ICPS: Get ICPS from ICPSwap or through mining rewards.
- Check ICPS Holdings: View your ICPS balance in Vault.
- Copy Canister ID: Copy the Canister ID from the Mining page that you wish to Boost.
- Initiate Staking: Paste the Canister ID on the Staking page, enter the desired ICPS amount (not exceeding 50% of the Miner’s power), click Stake, and wait for 100 blocks to confirm.
Withdraw Staked ICPS
- Locate Canister ID: On the Staking page, find the Canister ID to Withdraw from.
- Process Withdraw: Click Withdraw and wait for 100 blocks for ICPS to be released.
- Verify Balance: Go back to Vault to check your updated ICPS balance.
Join ICPS.Fun and experience The Next Generation of Fair Mining journey—We stand for fairness. Pure and simple-
These parameters ensure a more balanced and sustainable model, guaranteeing fair rewards to participants without causing excessive token supply inflation, thereby supporting the platform’s long-term viability.
ICPS.Fun
