|Tree Planter||10 Forestcoin||80%|
|Referrer (or to Forestcoin if no referrer)||0.5 Forestcoin||4%|
|Crowdsourced approver 1||0.25 Forestcoin||2%|
|Crowdsourced approver 2||0.25 Forestcoin||2%|
|Crowdsourced approver 3||0.25 Forestcoin||2%|
|Node that creates the block||0.125 Forestcoin||1%|
|Local market contingency fund/or local donation fund||0.125 Forestcoin||1%|
|Forestcoin for development and maintenance of the system||1 Forestcoin||8%|
One tree for every person. One forestcoin for every tree.
Forestcoin has the ambition to plant one tree for every person on the planet.
With this target in mind, the maximum number of forestcoins that will ever be created is one coin per person on Earth.
World Population right now
At the time that you loaded this page (Sunday 5th July, 2020 10:53:15 GMT), the world population was 7,836,337,460 (Calculated using data from: United Nations DESA report, “World Population Prospects: The 2017 Revision)
- The maximum number of forestcoins that are possible: 7,836,337,460
- The number of trees that would need to be planted to create all forestcoins: 7,836,337,460
Forestcoins are created and issued into circulation only when a tree has been planted.
As of this moment 167 trees have been planted and 2,088 forestcoins have been issued and are in circulation. Forestcoin is currently in Stage One of the Coin Release Program and 12.5 coins are issued for each tree planted. Future stages will have a lower number of coins issued per tree planted.
Understanding the 25 Stage Coin Release Program
- The coin release is broken up into 25 stages.
- Each stage releases 50% of all remaining coins, with the exception of the final stage which releases 100% of the remaining coins
Stage One will close when:
- 313,453,498 trees have been planted (which is a number equal to 1/25th (or 4%) of world population)
- When Stage One closes, 50% of all coins will have been released – 3,918,168,730 (world population divided by two)
- In Stage One 12.5 coins are created for each tree planted
- The world population is growing continuously so the exact tree planting target and actual number of coins in the stage is dynamic. When the number of trees planted reaches 1/25th (or 4%) of the then current world population, Stage One will be locked, and we will begin releasing the coins in Stage Two.
Stage Two will release 50% of all remaining coins, at a rate of 6.25 forestcoins per tree planted, and will close when the number of trees planted reaches 2/25th (or 8%) of world population.
Stage Three will release forestcoins at a rate of 3.125 forestcoins per tree planted, and will close when the number of trees planted exceeds 3/25th (or 12%) of world population.
And so on…
|Stage||Coins released in stage as a percentage of all coins||Coins released by stage end (shown as a percentage of all coins)||Coins in stage||Coins released by stage end (cumulative)||Trees that need to be planted to release all coins in stage||Trees planted by stage end (cumulative)||Coins issued per tree planted|
Coin Release Plan Reasoning
In successful cryptocurrencies the coins become more difficult to mine as time passes. This is theorized to push the value of the coin up as the reward is lowered. For example, in bitcoin, the block reward is halved every 210,000 blocks which is approximately every 4 years. When bitcoin was created the Block reward was 50 btc and is now down to 12.5. This decrease in block reward means that over time less and less new bitcoin are created, which combined with increased demand is theorised to support the price.
Forestcoin is designed in a similar manner, with higher rewards earlier in the coin release program, and the reward halving at each stage as we progress through the 25 stages.
The dual aim is to:
- To reward the early planters for supporting Forestcoin by issuing them with more coins
- To allow the coin the opportunity to grow in value in later stages when there are fewer coins being issued per tree planted
Future World Population and Maximum number of Forestcoins
The maximum number of forestcoins that will ever be released is one per head of population. Looking to the future, and basing estimates on the United Nations DESA report “World Population Prospects: The 2017 Revision”, the maximum number of forestcoins will be as follows:
- 2030: 8.6 billion population, therefore a maximum 8.6 billion forestcoins if 8.6 billion trees are planted
- 2050: 9.7 billion population, therefore a maximum 9.7 billion forestcoins if 9.7 billion trees are planted
- 2100: 11.2 billion population, therefore a maximum 11.2 billion forestcoins if 11.2 billion trees are planted
Beyond our goal of one tree for every person on Earth.
When we do reach our goal of having planted one tree for every person on Earth, we will start issuing coins on a daily basis to keep up with current daily world population growth with the new coins still being restricted to world population and divided by the trees planted for the previous day and issued pro rata. This means that the number of coins will be always restricted to one per person on Earth, but we can plant more than one tree for every person on the planet.