Mining Difficulty

Mining pool inventory at this block number.

In introducing Mining Difficulty, you must know the constant K.

K

We have designed a mechanism, in which, as the block number increases, the amount of LEC tokens (ERC20) that can be withdrawn from the smart contract will decrease. Over time, each block will yield fewer and fewer LEC tokens. The algorithm is as follows:

X = 4200000. (This is a basic constant)

Y = The initial LEC quantity in the smart contract.

$$X * Y = K$$

When the ERC721 contract is deployed on the mainnet, K will be defined. K is a constant.

Simultaneously, we will set a constant named startBlockNumber, initially defined as the block height at the time the contract is deployed.

Next, as long as we know the current block height, we can determine the balance of LEC tokens in the smart contract. The algorithm is as follows:

• $C=Current block height$

• $S=startBlockNumber$

• $R=4200000$

$$Balance = K / (C - S+R)$$

Since the block height will only increase, the balance will get lower and lower. As the balance decreases, the amount of LEC tokens that can be withdrawn will decrease correspondingly.

You will discover an interesting thing, as time progresses, the block height increases, the denominator gets larger and larger, but the value of K remains unchanged, hence the balance of LEC in the smart contract decreases progressively.

From this, you can obtain two pieces of information:

1. The amount of LEC mined in a particular block.

Balance01 = K / (C - S+R)

Balance02 = K / (C - S+R)+1

$$LEC mined in a block = Balance01 - Balance02$$

2. The amount of LEC that can be mined decreases with each subsequent block as time progresses.

X: Week number

Y: Amount of LEC mined per block

Now, let's calculate the mining difficulty. We will use the balance of LEC in the current block as the numerator, and the initial quantity of LEC in the smart contract as the denominator, then subtract this ratio from 1.

B =Balance of LEC in current block .

I = Initial LEC quantity in smart contract. ​

$$Mining Difficulty=1−( B/I ​ )$$

The Mining Difficulty is less than 1, you can convert it to a percentage on your own. As time progresses, with the accumulation of block height, the difficulty will escalate, resulting in fewer LEC being mined. However, the degree of escalation will be depicted as shown in the figure below.

Therefore, the 80,000,000 LEC will never be completely mined, it will only asymptotically approach 80,000,000, and as time progresses, the amount that can be mined will continue to decrease.