I'm looking at the xdr definition of the LedgerHeader structure and it has the totalCoin fields -- so, why does every ledger header need to have totalCoins recorded in it?
How would that value ever change?
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Total number of all XLM is not a constant. Every week the built-in inflation mechanism distributes new lumens. You can find detailed information here.
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Thanks! So the inflation coins are created each week from scratch? Not redistributed? – Ivan Voras Nov 20 '18 at 10:09
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Inflation distributes fees from the
fee_pooland creates a portion of new coins to keep a steady total supply growth (1% yearly). – Orbit Lens Nov 20 '18 at 12:07 -
Thanks! Do I understand correctly how inflation is carried out: each week, nodes carry out a calculation for each account in the ledger which has non-zero inflation destination votes, which distributes newly created lumens + lumens in the fee pool to those accounts which have more than MIN_VOTE votes, in proportion to how many lumens they have. Nodes do this independently and the result is published as an inflation operation. This operation is then accepted in the usual way by consensus? – Ivan Voras Nov 20 '18 at 15:44
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Yeah. Min vote is 0.05% of all existing coins. Regular accounts with balance less than
min_votecan also vote for the inflation pools (like pool.lumenaut.net), which regularly distribute inflation rewards. Theinflationoperation can be submitted by any account, and the consensus for this operation type works as usual. – Orbit Lens Nov 20 '18 at 21:56
