Efficiency

Mining experience and efficiency are designed to incentivize regular, consistent, and loyal miners over seasonal ones. They also discourage miners from changing their referrer in the Referral Network, creating a form of effort investment in the system.

Mining efficiency is the rate of rewards a miner actually earns from their block reward. It starts at 50% for a fresh, new miner address and can only be increased by gaining experience.

As an address claims rewards, it accumulates experience, which is calculated using the reward coefficient and mining coefficient:

$xp=\displaystyle\sum{\text{RewardCoefficient} \times \text{MiningCoefficient}}$

The more experience an address accumulates, the more efficient it becomes. The efficiency rate increases and approaches 100%, but it never fully reaches it. The formula for efficiency is as follows:

$\text{Efficiency}= 1-\dfrac{1}{2\times 2^{xp\over w}}$

Here:

• w is the Efficiency Coefficient, set to 115,200.

• xp is the miner's accumulated experience.

Miners without a parent in the Referral Network only accumulate half of the mining experience.

Experience and Efficiency

With an Efficiency Coefficient (w) of 115,200, it is estimated to take approximately 16 days of mining all major blocks to increase efficiency to 75%, another 16 days are required to reach 87.5%, and so on.

On claiming a reward, only $\text{Efficiency}\times \text{Reward}$ of ENDU is minted to the miner, while the rest is not minted at all.