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ICPS.FUN

The Next Generation of Fair Mining Model ICP’s Consensus with PoW Mechanism
(PoUSW) -We stand for fairness. Pure and simple-
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informationICPS Ledger: ypkpu-uaaaa-aaaam-adihq-caiICPS Canister:
2co3e-qyaaa-aaaao-qaaja-caiTrade: https://app.icpswap.comToken Standard: ICRC-2
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.
Mining Details of ICPS.funMining 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 ProcessInitial Parameter on Miner Creation: Hash Power: When a
miner is created, a random number hash_power is generated as the miner’s initial
hash power, determined by a normal distribution range of 3500-4100, with 3800 as
the mean.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_number is generated, and the mining power begins to
increase after 100 blocks. Starting from block height 2000, the staking_power is
set to 5 and decreases by 10% every 1000 blocks thereafter, until the
staking_power reaches 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 the staking_number will reset to 0. staking_number =
icps_number * staking_power
Calculation Formula and RewardsCalculation Formula: During mining, the miner
calculates the score points using the formula: points = (hash_power +
staking_number) * random_numberBlock Generation Conditions and Rewards
Distribution: Each epoch lasts 40 seconds. At the end of each epoch, 7 ICPS are
distributed to a random canister selected from the top 50% of those that
submitted the highest points during that epoch, ensuring fairness and
sustainability in mining. Additionally, the remaining 3 ICPS are used for a
lottery among the most recently created 50 miners, with 3 miners randomly
selected, each receiving 1 ICPS. The stake amount cannot exceed 50% of the
miner's power, maintaining a balanced and fair mining process.Block Generation
Probability: The higher the initial hash_power of the mining machine and the
greater the staked staking_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.Halving Cycle: Block rewards
halve periodically to simulate the classic halving model.Power Calculations
Example: For instance, if initial power is 3800 and 100 ICPS are staked, the
power will change as follows: •From block 0 to block 2000: •power = 3800 + 1 *
100 = 3900 •From block 2000 to block 3000: •power = 3800 + 5 * 100 = 4300 •From
block 3000 to block 4000: •power = 3800 + (5 * 0.9) * 100 = 4250 •This continues
until the staking weight decreases to 1, at which point: •power = 3800 + 1 * 100
= 3900
Key Concepts for Understanding MiningMining Power and Success: ICPS mining is
similar to Bitcoin mining; the higher the power, the greater the chances of
mining a block and earning rewards. As more miners join the network, overall
difficulty increases, requiring more power to maintain or improve success rates.
In simple terms: •Higher Power = Better odds of mining a block. •Increased
Difficulty = As the number of miners grows, the mining process becomes harder,
requiring more computing power to secure rewards. This system incentivizes
miners to boost their power to stay competitive, just like in BTC mining.Staking
for Stability: Staking is introduced to reduce selling pressure on ICPS. By
staking their tokens, holders are encouraged to lock up their ICPS rather than
sell, which helps stabilize the price. The aim is to enhance the utility of
ICPS, creating a flywheel effect—where the token's use cases and demand increase
over time, driving up its value.Fair Competition: The platform's use of a power
decay mechanism and random selection from the top 50% of miners ensures
fairness. This setup helps balance competition by preventing any single miner
from dominating due to high power alone, allowing even smaller miners a chance
to win.Increasing Power: Besides staking, miners can also increase their power
by creating new miners. Each new miner starts with an initial hash power, which
might be higher than their current one. By adding more miners, they can
potentially achieve greater overall mining power alongside staking.Ways to Earn
More ICPS: There are two primary methods to obtain more ICPS. The first is to
create more new miners, as each block contains 3 ICPS that are randomly awarded
through a lottery to the most recently created 50 miners. The second is to
purchase additional ICPS to stake, thereby increasing the miner's power.
Mining CostsMining Cost: Creating a miner now costs 1.2 ICP, with 0.2 ICP
directed to the treasury, which will add funds to the liquidity pool daily.
How to Start Mining1. Access Account ID: Visit ICPS.fun, navigate to “Vault” to
find your Account ID.2. Fund Your Account: Deposit ICP into your Account ID.3.
Activate Mining: Go to the Mining page and click “New Miner” to start mining
ICPS.
Staking for Boost your Miner1. Acquire ICPS: Get ICPS from ICPSwap or through
mining rewards.2. Check ICPS Holdings: View your ICPS balance in Vault.3. Copy
Canister ID: Copy the Canister ID from the Mining page that you wish to Boost.4.
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
approximately 1 hour for confirmation
Withdraw Staked ICPS1. Locate Canister ID: On the Staking page, find the
Canister ID to Withdraw from.2. Process Withdraw: Click Withdraw and wait for
100 blocks for ICPS to be released, with a fee sent to the treasury for
liquidity enhancement, decreasing based on the staking duration. The longer the
staking duration, the lower the withdrawal fee required: a. Initial Fee: 20% for
the first 15,120 blocks (approximately one week). b. Decreasing Fee: The fee
decreases linearly with each block, specifically by 0.0001043% per block. c.
Final Fee: 1% after 181,440 blocks (approximately 12 weeks).3. Verify Balance:
Go back to Vault to check your updated ICPS balance.
Upgrade OptionExisting miners can upgrade to the new miner (with the initial
power range of 3500-4100) by spending 0.7 ICP, recharging 2T cycle.1. Select the
Miner: Find the miner you wish to upgrade.2. Check Cycle Balance: Ensure that
the miner has sufficient cycle balance.3. Click Upgrade: Click the "Upgrade"
button to initiate the process.
New Miner BenefitsThe new miner offers lower cycle consumption, faster
computation speeds, and increased calculation iterations compared to the
previous model. 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.