ANNOUNCEMENT | About the establishment of BHD Development Foundation and upgrade rules towards miners who do not meet the conditional mining demands

Updated On July 29, 2019

Dear BHD Community members:

In order to better support the ecological development of BHD, the BHD Foundation decided to establish the BHD Development Foundation . Any outstanding project team and Idea can send relevant materials (PPT, white papers, team introductions, etc.) to the designated mailbox of the BHD Development Fund to obtain investment.

Official designated email address:
BHD Development Foundation Address: 3PAEqARAdcwEDrEqTvsqqVSFXt62uir9aa (currently, 50K BHD has transferred from promotional fund for initial)

At the same time, with the rising value of BHD and the gradual enrichment of currencies under the POC consensus that sharing the pressure of promotion, the BHD Promotion Foundation expressed its gratitude to all of its peers! For the healthy development of BHD ecosystem, the BHD Promotion Foundation decides to distribute the additional income when the conditional is out of the block to the next conditional block address. The block height is 197568, and the detailed rules are as follows:

First, starting from the block height of 197568, the block time is reduced from 5 minutes to 3 minutes, and the output per block is reduced from 25BHD to 15BHD. The block reward per unit time is unchanged, aiming at increasing TPS and transfer speed. The halving time is about 4 years. The height of first halving is 568288, and then it will halved every 700,000 blocks . The total supply is still 21,000,000 pieces.

Second, the 30% return that does not meet the conditional capacity mining revenue remains the same. For the remaining 70%, 43% is directly accumulated to the next eligible conditional address, and the remaining 27% is allocated to the BHD Development Foundation. For every 33,600 blocks (about 10 weeks) after, the BHD Development Foundation's revenue will be reduced by 2%, and the partial accumulation will be reduced to the next block that meets the conditions for mining. By the first halving, the BHD Foundation's revenue will be reduced to 5% and stay at that amount. 65% of the income that does not meet the conditional capacity mining will accumulating to the next block that meets the conditional mining.

Starting from the block height of 197568, the new BHD distribution mechanism and mining consensus are as follows:
Total supply: 21,000,000 pieces
Development team: 10%, 2,100,000 pieces Method: pre-digging
Promotion team: 5%, 1,050,000 million Method: with each block of mining
Miners: 85%, 17,850,000 million Method: mining
Burst time: 3 minutes
Initial block size: 15BHD/Block, Block size: 2MB
halving Cycle: 4 years, the first halving time is about 568288 block height
Initial TPS: 70 T/S (transactions/seconds)

Conditional proof of Capacity: holding 3 BHD/T as conditional mining, and the conditional demand decreases synchronously with the increase of the whole network computing power.
Notes: The hard disk(1T) is evaluated based on the burst rate for the entire network, not the absolute value.

BHD Foundation
July 29, 2019, 16:00 (GMT+1)