About Space CashSpace Cash is the fuel that powers the Hyperspace Cloud Storage network. Hosts earn Space Cash by renting out storage space and renters on the storage network pay Space Cash to hosts.
How to Mine
Miners using specialized ASIC hardware for the Blake2b hashing algorithm can mine newly minted Space Cash at a number of pools:
90% of all newly minted Space Cash will go to the miners. The remaining 10% will go to the Hyperspace team. The Hyperspace team will use these tokens for funding of work related to the development of the project, such as software development, infrastructure, and awareness.
3 billion Space Cash was generated before the network’s public launch for a founder’s reward, 600 million was generated in the genesis block for contributors to the Sia and Hyperspace ecosystems (as Hyperspace began as a fork of the Sia codebase), and another ~3.5 billion was generated as a 10:1 airdrop to holders of Siacoins. Additional Space Cash are generated via mining block rewards. Space Cash has a block time of 10 minutes and the first block of Space Cash upon public network launch had a block reward of 60,000. Each block thereafter has a block reward reduced by 0.2 Space Cash of the block prior until the block reward reaches 6,000 around September of 2023. After that, the block reward of Space Cash will be fixed at 6,000 indefinitely.
Founder's Reward and Contributors' Airdrop
3 billion of the total supply of roughly 16 billion Space Cash that will come into existence by September of 2023 have been mined by the initial developers of the Hyperspace network prior to the network’s public release. These tokens will not be sold until at least 3 years after the launch of the network and, at such a point in time in the future when they may be sold, their sale will be announced in advance and will occur in a regular manner over a lengthy period of time. Furthermore, 600 million Space Cash were created in the genesis block and distributed among 10 developers and 6 community contributors who expressed interest in actively participating in a contributors' airdrop. Each developer received 54 million Space Cash and each community contributor received 10 million Space Cash. Like the founder's reward, the contributor coins will be locked until block 157680 (~3 years from network launch).
In the Future
We are evaluating the use of Hypernodes to function as a service layer on top of the Hyperspace network. In our vision, Hypernodes would share in the Space Cash block reward in exchange for providing additional functionality to the network. More to come...