Voluntary issuance

Issuance design has been one of the primary things that governance system of a blockchain has to decide. Issuance comes in varities of forms, from halving, to tail emissions, to constant supplies. In this article, we try to explore a different method — to allow multiple different issuance bodies to co-exist within a blockchain, and to allow them to be created and followed at will. If no issuance curve can last for a hundred years, then do not have a fixed one.

Design

A blockchain following voluntary issuance does not have a fixed "coin". Instead, all coins are managed as on-chain smart contracts.

The protocol does not have fixed rules regarding transaction inclusion. Miners choose which transaction to include. A transaction allows sending funds to multiple targets, and includes an option to use the parameter of "coinbase". Miners voluntarily choose to interpret those options as transaction fees and use them to order transactions.

Genesis block includes a transaction that deploys the first issuance body on-chain.