Terminology
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Please visit https://docs.casperlabs.io/en/latest/ for official Casper Network documentation. 👏
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An era on the Casper is at least 10 blocks, and at least 2 hours in duration.
At launch, and for approximately 40 days post launch the network will have virtually no traffic, as all tokens will be locked, along with tokens sold in the public sale.
The network is designed to adjust to network conditions and can finalize blocks faster or slower in exponents of 2. For example block times will increase in 2n milliseconds.
The network will have a minimum and maximum block time. This is represented by ‘N’ within the chainspec.toml.
n | Duration (ms) | Duration |
13 | 8192 | 8 sec |
14 | 16384 | 16 sec |
15 | 32,768 | 32 sec |
16 | 65,536 | 65 sec |
17 | 131,072 | 2 mins |
18 | 262,144 | 4 mins |
19 | 524,288 | 8 min |
At launch we are planning to have block times of approximately 64 seconds.
A staking account address is represented by a truncated hash of a corresponding entity's public key, prefixed by a 1 byte address version.
You can delegate your tokens by submitting an escrow transaction that deposits a specific number of tokens into someone else’s escrow account (as opposed to staking tokens, which usually refers to depositing tokens into your own escrow account).
In other words, delegating your tokens is equivalent to staking your tokens in someone else's validator node. Delegating your tokens can give you the opportunity to participate in the Casper Network's proof-of-stake consensus system and earn rewards via someone else's validator node.
You can stake your tokens by submitting an escrow transaction that deposits a specific number of tokens into your escrow account.
By delegating your tokens to someone else's node, you can earn a portion of the rewards earned by that node through its participation in the Casper Network.
- Rewards are distributed to validators and delegators once per era.
- All rewards will be automatically re-staked.
- It is possible to track rewards earned by examining your public key entry within the auction contract under ‘bids’. Your wallet address will appear within the bid structure, and the amount of your bid will increment as rewards are earned.
- Rewards = Block rewards + Transaction Fee
The amount of rewards is split proportionally among stakes. Rewards are delivered to nodes that participate in consensus (are up and sending consensus messages). Rewards are calculated based on a percentage of total supply and delivered according to stake and participation.
There will be 10 billion CSPR on mainnet at the time of genesis. The annual inflation rate will be 8% (about 80 million CSPR).
Validators on the Casper network are expected to earn between 10-20% of their staked CSPR in rewards in the first year of mainnet launch. The reward return rate is dependent on the number of validators on the network and the amount of CSPR staked.
Transaction fees are remitted to the block proposer. The block proposer is selected by consensus randomly, and is a function of stake. Consider that the random selection algorithm operates like a lottery, and each mote (fraction of CSPR) gives each participant a single ticket in the lottery.
Your delegated tokens can be slashed if the node that you delegated your tokens to gets slashed for double signing.
Unbonding from the Casper Network will take approximately 7 eras for delegators/stakers and approximately 15 era for validators. Neither validators nor delegators receive rewards during the unbonding period, as they are not actively contributing to the security of the network during that time period.
Once unbonding is complete, the unbonded token is sent back to the account’s main purse.