One of its kind
REBL Masternodes can also run multiple Client masternodes
Without having to deposit collateral.
Implementing the REBL vision is a complicated process, with many questions to answer. The most important 3 questions we faced in the past months are:
1: How do we create demand for the REBL coin and stimulate circulation?
2: How can we make sure the REBL coin has real utility?
3: How do we implement our vision while keeping the community incentivised?
Below you will find details on how Rebellious plans to tackle this.
Any blockchain must pay validators to economically participate in its consensus protocol, whether proof of work or proof of stake, and this inevitably incurs some cost. There are two ways to pay for this cost: inflation and circulation.
The REBL blockchain runs on the proof of stake consensus protocol. To have a stable foundation during the development phase, it will be decreasingly fueled by inflation. This essentially means that the economic incentive – the block rewards – for validators will consist of newly generated coins, hence inflation. The REBL coin supply will eventually reach a max supply, so the generation of new coins stops.
The distribution of this economic model will be rolled out, at first, in what we believe to be the most optimal way to create a stable network and have the reward system in balance. It is nearly impossible to create a multi-year model like this with multiple unknown variables. Therefore this model will be regularly revised on feedback loops.
With the REBL model moving towards zero inflation, the question is – How will contributors be economically incentivized to keep running (master)nodes and thus keep the network secure and stable?
Rebellious will add a value mechanism to the REBL ecosystem to increase demand and stimulate coin circulation.
REBL nodes also function as an audit for private client chains
And will receive extra reward for this.
REBL Proof of Stake Reward
The REBL block reward is an incentive for REBL-masternodes and REBL-stakers for helping to secure and validate the REBL-blockchain. The block rewards will be supplemented with transaction fees. This will partially compensate for diminishing coin inflation throughout the year as the network expands and its user numbers increase.
Client Auditing Rewards
The client fees consist of two components. First, for a client chain that runs in a private environment: the nodes in the REBL network will check these blocks and thus function as an audit for the client chains. Clients are required to pay audit fees for this service. In practice, the client will buy REBL coins from the open market and use these to fill up the block rewards.
Clients Masternode Rewards
The biggest feature of our Ecosystem: REBL Masternode holders will receive a masternode from each new client for free. The collateral will be provided by the client, the masternodes are run by the REBL masternode holder. The more clients Rebellious has, the more masternodes a REBL holder will run, and the more they will earn.
REBL Node and Masternode rewards
Let’s grow together
*Depending on the number of clients you run nodes for and the number of masternodes you own, this reward can increase significantly.
REBL Masternodes are part of the
REBL Triple Incentive Program
REBL’s unique approach in Crypto
We are proud to announce the economic model for Rebellious today. We worked hard over the past few months to create an ecosystem that is one of its kind. Below you will find some frequently asked questions and answers.
What is a Staking Node?
A staking node, or ‘Full Node’ is a program that operates on the network by validating transactions and blocks, and relaying them. The full nodes on the REBL blockchain run on the Proof-of-Stake consensus protocol. A ‘regular’ full node is a staking wallet where users will be rewarded based on their connectivity age and the number of coins they hold. This means that in order to earn your stake, you will need to have your wallet connected. The wallet will sync with the blockchain and act as a node.
What is a Masternode?
A Masternode is a type of full node that offers various services to the network and is compensated by the network for this service. Masternodes stabilize and secure the network. In addition, Masternodes ensure transactions are sent instantly, and make it possible to send private transactions and much more.
What are the Requirements to Run a Masternode?
To run a Masternode there is an entry barrier in the form of collateral. The collateral never leaves the user’s possession, it can be moved at any time, however doing so will disconnect the Masternode from the network. To run a Masternode, the following is required:
- Masternode collateral: 100.000 REBL
- A VPS or server to host the wallet 24/7
- A Dedicated IP address
- Storage space to save all blockchain data
What do I earn running a REBL Masternode?
With each block that is created, 60% of the block reward will be assigned to a Masternode. The chances of you as a masternode receiving this reward depends on the amount of masternodes active in the network. If for example 1000 masternodes are active at a given time, your chance of receiving the reward is 1 out of 1000, or 0.1%.
Theoretically, your ROI can therefore be calculated given the amount of Masternodes that are active in the network. The table above shows this calculation.
Client Masternodes: If you own a REBL masternode then you have the unique opportunity to run a masternode for free from ALL of the client chains we will deploy. The collateral will, in this case, be deposited by the client itself through a smart contract, meaning you don’t have to deposit anything yourself. The rewards that you will receive will be paid in REBL. Clients, in turn, would need to buy REBL coins off the market to pay their masternode holders for a secure and decentralized network. This creates a huge demand for the REBL coins, as this can be seen as “oil” for the entire system.
Why do I need to Lock 100.000 REBL Coins in a Masternode?
The 100.000 REBL collateral is used as a type of “trust” for the network. The collateral serves to prevent Sybil attacks on the network, whereby an attacker could create numerous masternodes and interfere with network operations. Nodes with so called ‘skin in the game’ are therefore less likely to act maliciously.
When can I run my Masternode?
We are working hard to have our main net blockchain up and running in Q3/Q4 2018. The Full Wallet Nodes and Masternodes are both an essential part of the network and will also be ready at the launch of main net.
How many Masternodes are available?
We do not cap the number of Masternodes. The economic system will balance out in a natural way. With a steady Masternode collateral of 100.000 coins and an increasing demand for the REBL Coin this is a natural mechanism.