OPoW & Rewards

OPoW - Optimisable Proof of Work

TIG has developed a novel variant of proof-of-work called optimisable proof-of-work (OPoW).

Optimisable proof-of-work (OPoW) uniquely can integrate multiple proof-of-works, “binding” them in such a way that optimisations to the proof-of-work algorithms do not cause instability/centralisation. This binding is embodied in the calculation of influence for Benchmarkers. The adoption of an algorithm is then calculated using each Benchmarker’s influence and the fraction of qualifiers they computed using that algorithm.

With OPoW, solving computational problems is decoupled from creating blocks, allowing many solutions to be found per block.

The influence of a Benchmarker in OPoW is explicitly calculated from their number of solutions compared to other Benchmarkers, allowing block rewards to be shared amongst all Benchmarkers based on their influence.

TIG combines a crypto-economic framework with OPoW to:

• Incentivise miners, referred to as Benchmarkers, to adopt the most efficient algorithms (for performing proof-of-work) that are contributed openly to TIG. This incentive is derived from sharing block rewards proportional to the number of solutions found.

• Incentivise contributors, known as Innovators, to optimise existing proof-of-work algorithms and invent new ones. The incentive is provided by the prospect of earning a share of the block rewards based on adoption of their algorithms by Benchmarkers.

TIG will progressively phase in proof-of-works over time, directing innovative efforts towards the most significant challenges in science.

Rewards

TIG incentivizes participants for their contributions to the network through block rewards. These rewards are distributed to:

• Benchmarkers for computing solutions and maintaining network security.

• Delegators for delegating their deposits to Benchmarkers

• Innovators for making Code Submissions for developing and optimizing algorithms.

• Innovators for making Advance Submissions for discovering novel algorithmic methods.

• Challenge Owners for proposing and maintaining challenges.

These rewards are structured to ensure that all participants are incentivized fairly based on their contributions to the network.

Check tokenomics for details on block reward emission and distribution.