Is it a bad idea to give reward proportional to effort?

1. Is it a bad idea to give rewards proportional to eforts? Unlike other blockchains such as Bitcoin that give fxed rewards for mining BTC, Jax.Network rewards miners proportional to their eforts. Rewards proportional to miners' eforts are benefcial to the network because it ensures that even small-scale miners get rewarded. What does a reward proportional to eforts mean? • To understand how Jax.Network incentivizes miners proportional to their eforts; you need to know how a PoW consensus algorithm works. Any node that successfully adds a block to the distributed ledger gets rewarded with new coins For successful mining, miners have to attempt diferent combinations while solving the computational problem assigned with the block header, starting with a nonce of zero. Statistically speaking, any miner will receive a reward proportional to their respective hashrate, abiding by the principle 1 CPU = 1 vote. Miners who mine lots of blocks are awarded transaction fees. Theoretically, this covers electricity consumption, data storage costs, and extra data processing fees. • • • The rationale for rewards on the Jax.Network shards • Sharding is simply the partitioning of data on a blockchain to reduce the workload. This data split is known as "shards." JAX is a native cryptocurrency of Jax.Network, which is awarded for mining on the shard chains. Unlike Bitcoin, miners on the shard chains are rewarded with new JAX coins based on their computing power inputted in maintaining the network - verifying transactions on the chains. This reward mechanism is more like an incentive that encourages both large- and small-scale miners to mine JAX and is also crucial to the stability of JAX. Ultimately, it helps the network to minimize centralization on the network. • • • • A perfect solution to block creation problems • Developers modifed the efort to reward proportionality schemes to refect the reality of mining and motivate miners to continue mining blocks. • The miner gets a partial reward for the efort spent on solving the problem, and no efort goes to waste. • This partial reward system also deters selfsh mining and miners seeking rewards through harmful conduct to the Jax.Network blockchain. • Having a fxed block reward would break this equality. Imagine, for the sake of argument, a ten-block reward on each shard. • Shard one has 1000 blocks, 10000 coins in circulation, and shard two has only 100 blocks or 1000 coins. • The exchange rate between the two shards becomes 1:10 instead of being 1:1. Having a proportional reward solves this issue. Conclusion The efort to reward proportionality schemes works when properly implemented. Jax.Network rewards miners based on their mining eforts and miners who may have solved the problem simultaneously but whose blocks were not placed on the main blockchain. Overall, reward proportional to efort achieves the goal of promoting many transactions with low processing delays by having a high block creation rate while keeping all shards equal in value. Are you ready to join the Jax.Network? Join Now jax.network