The Ergo block interval is 2 minutes, and for the first two years, each block will release a total of 75 Ergs to be shared between the miners and the Treasury. But starting at year 2, the emission rate will fall by 3.0 Ergs and after that further decline every three months by an additional 3.0 Ergs, which will result in an end to emission eight years after launch.
In Ergo, just like Bitcoin, Ethereum, and other blockchains, blocks are broken into sections. In Bitcoin, there's simply a block header and the transactions themselves. But in Ergo, we have some extra sections that enable new functionality:
- Proofs of UTXO transformation
The 'extension' section contains certain mandatory fields (including links for NiPoPoW, once per 1,024 block epoch) and parameters for miner voting, such as current block size. It can also contain arbitrary fields.
What this means in practice is that different types of nodes and clients can download only those sections of the blocks they need – reducing the demands for storage, bandwidth, and CPU cycles.
Mining in Log-Space
Whether it is Ergo, Bitcoin, or another PoW consensus model, miners are needed to constantly maintain the blockchain. In addition to using computational resources, miners also use storage resources that maintain all blockchain data from the genesis block.
A new miner’s problem: Is downloading all the data from the genesis block strictly necessary? Why is it not possible to download only the most relevant blocks to maintain the network?
Instead of accessing all of the blocks, super blocks (or light-clients) are enough to verify all of the blocks. This is accomplished by maintaining the historical data of the blockchain through smart contracts. The introduction of these superblock clients on NIPoPoWs can be done by velvet soft forks, and thereafter “light” miners can bootstrap through “online” mining.