EIP-27 Re-emission News

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Ergo Platform

May 24, 2023

With EIP-27 having been in full effect since June of 2022, a new re-emission protocol has been implemented that aims to extend emissions and ensure adherence among miners. Within EIP-27, there is now a "re-emission box" which consolidates funds from miners' rewards to be redistributed back to the mining community. Essentially what happens is miners are required to allocate a portion of the rewards to a secure "pay-to-reemission" contract. The contribution is made using "re-emission" tokens, which are then put into the miner's reward box. The primary reason that this has been implemented is to incentivize miners to actively participate in extending emissions while ensuring their adherence to the EIP-27 rules.

To streamline the consolidation and redistribution process, Alexander Chepurnoy, the founder of Ergo, has developed a script that merges the pay-to-reemission boxes created by miners with the re-emission box. Through this consolidation, the re-emission box accumulates funds that can be re-emitted back to miners, fostering sustainability within the mining ecosystem. The pay-to-reemission contract acts as a proxy which temporarily holds the funds contributed by miners before they are transferred to the re-emission contract. This inbetween step serves the dual purpose of maintaining fund security and ensuring miners' adherence with EIP-27 rules.

As a proof of work protocol, the Ergo ecosystem and its developers are always working to promote mining innovation and long-term sustainability. Although the industry is still firmly in a bear market, Ergo’s core and community developers are keeping the forges burning bright.

To learn more about the re-emission contract in regards to EIP-27, consult the GitHub here.

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